RC_LP_U_200.4 Asset Review in Residential Underwriting

1-5 CMB Points Education Intermediate Loan Production (Origination, Underwriting, Processing) Residential Self-Study Web-Based Courses
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Member $50.00
Non-Member $100.00

In Asset Review in Residential Underwriting, we describe how to analyze an applicant's assets to ensure that there are sufficient funds to close and that the applicant meets program guidelines with respect to the minimum borrower contribution and reserve requirements.

The course begins with a look at the Details of Transaction section of the loan application and considerations during its review. It then addresses acceptable sources of liquid reserves and related requirements. Next, it describes how to calculate available funds to close. Toward the end of the course, verification requirements and guidelines are reviewed for personal funds, gifts, grants, and interested party contributions (IPCs).

It is important to note that the concepts explained in this course are concepts that form the foundation for sound underwriting. When a loan is run through an automated underwriting system (AUS) such as Fannie Mae's Desktop Underwriter (DU) or Freddie Mac's Loan Product Advisor (LPA), some of the factors discussed in this course may be applied automatically.

This is a single-family/residential course.

  • Details of Transaction
  • Liquid Reserves
  • Calculating Available Funds
  • Personal Funds
  • Gifts, Grants, and Contributions


    Seat time approximately 1.5 hour.

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