More than ever, in today's mortgage market, the success of your organization requires that you be grounded in the foundation of strong and thoughtful underwriting. By aligning your underwriting practices with Freddie Mac's requirements, you can improve the delivery of eligible mortgages, so that together we can rebuild a sound mortgage industry and help sustain homeownership for American families.
This 1-day workshop will include "real-life" case studies and interactive exercises. You will gain an understanding of Freddie Mac's new guidelines and policy changes. We will review stable employment requirements and income calculation and documentation to help ensure your Borrowers have the capacity to repay obligations.
In this session, you will identify acceptable sources of funds, and how to document them in accordance with the appropriate documentation level. Come and discover trends and best practices in underwriting and quality control.
We will also be providing guidance on Freddie Mac's appraisal requirements; review key areas of focus when underwriting an appraisal report, and the importance of knowing your market in the areas you serve.
Prerequisites:
If your roles include responsibilities in mortgage loan origination, processing, underwriting, or quality control, you will benefit from this training.
Objectives:
Understand the scope and depth of recent policy changes
Topics:
Your responsibility for Income Analysis
Requirements for acceptable sources of funds and supporting documentation
Apply Freddie Mac underwriting guidelines for collateral review
