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Training Catalog: Course Description

Graphic Course: Instructor-Led TrainingThe Power of Strong Underwriting Workshop Graphic
       
  Description:    
 

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.

In this enhanced 2-day workshop, you will gain an overall understanding of Freddie Mac's current guidelines and policies for credit, capacity, and collateral. In addition, we will discuss how Freddie Mac?s technology tools can improve your loan manufacturing process. Case studies and interactive exercises are included so be prepared to participate!

Join us as we:

  • Analyze stable employment requirements, income calculations and documentation requirements to help ensure your Borrowers have the capacity to repay obligations
  • Review underwriting requirements for the Self-employed Borrower with a focus on Sole Proprietorships
  • Identify acceptable sources of funds, and how to document them in accordance with the appropriate documentation requirements
  • Review our requirements for appraisals and best practices for monitoring appraisal quality
  • Highlight eligibility and underwriting requirements for Home Possible Mortgages
  • Discuss Freddie Mac?s technology tools, including Loan Prospector and Loan Quality Advisor, and how they can help streamline your processes
 
       
  Prerequisites:  
 

Attendees must be an approved Freddie Mac Seller/Servicer.

 
       
  Objectives:    
 
  • Increase/reinforce your expertise in Freddie Mac's underwriting fundamentals
  • Deepen your understanding of our recent policy changes to improve your underwriting practices
 
       
  Topics:  
 
  • Underwriting with Loan Prospector's results
  • Analyzing borrower's credit, income & employment
  • Introduction to underwriting the self-employed borrower
  • Supporting acceptable sources of funds
  • Determining the acceptability of the appraisal report
  • Home Possible Mortgages