Jun. 25, 2014
|Universal Kickbacks: Will you please clarify under what circumstances, if any, a builder can require a customer to use a preferred lender in exchange for paying closing costs? |
|Universal LO Compensation: I have a lender that allows a flat fee of $3,000 for under $100k.
what is the rule for loans under $100k and how much can be charged/collected? |
|Fannie Mae/Freddie in Brief|
|Fannie/Freddie Heat Sources: I am trying to finance a home with a wood-burning stove as the heat source. Has Fannie or Freddie released any guidance about what is considered an acceptable, permanent heat source? |
|Fannie/Freddie Housing for Non-Profits: Is it possible for a non-profit to purchase a residence? They want to use the home for their members to stay in when they come to town from overseas. |
|Fannie VA Non-Taxable Income: My underwriter just told me that I cannot gross up my borrower's non-taxable VA pension. What is Fannie’s rule? |
|Fannie Loan Mod: What are the guidelines for a borrower with a prior loan mod who now wants to purchase a new home? |
|FHA: If condo questionnaire indicates litigation against HOA, is that a deal breaker? |
|FHA: If a person chooses to do credit counseling and has been in the program for 3 years,
how does FHA treat this?
|FHA: I am working with a doctor whose student loans have been deferred for 3 years. Do the loan payments have to be counted in ratios? [Download Chart/Checklist - FHA, VA, USDA and Conventional Comparison Chart)]|
|VA: A VA buyer has been on her current job for 1 year and 10 months. The underwriter says that he cannot approve the loan because she has to be employed for 2 years! She had taken a year off to spend with her newborn child, and previous to that, she was employed for 3 years. What’s VA’s policy regarding a “less than” 2-year job history? |
|VA: My VA buyer has 4 federal tax liens and 3 state income tax liens and has set up payments to pay them off. I included them in the ratios and he still qualifies. What is the VA’s ruling on tax liens? |
|USDA: What are the minimum “heating” requirements for USDA loans? |