What do underwriters look for on tax returns? An underwriter may review tax returns for a number of …
What does DTI stand for? DTI stands for debt-to-income. This is a ratio used by lenders to determine …
What is the difference between a PUD and a condo? A planned unit development (PUD) is often confused …
What is a condo questionnaire? When a lender sells a mortgage secured to a condo to Fannie Mae …
There are a lot of similar words related to mortgages, renting, and housing that are confusing to many …
Mortgagee and mortgagor often get confused. If you ever had a chance to closely review mortgage closing documentation, …
Generally, mortgage lenders do not check credit card statements. Lenders use the credit report to obtain information on …
Many people probably would agree that applying for a mortgage requires a lot of documentation. The documents needed …
A verification of mortgage (VOM) is a document used to obtain information on an existing mortgage. It is …
It all depends on the lender. It can be as little as a couple days to several months. …