RC_LP_U_200.4 Asset Review in Residential Underwriting
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)
This is a single-family/residential course.
Seat time approximately 1 hour.