The easiest way to pre-qual a potential homebuyer and explain the home loan process is to understand PAIL and the Four C's. Don’t know what we mean, cool. Tune in.…
ARMs, Margins and Indexes An ARM has the interest rate fixed for a set term, and then becomes adjustable thereafter. Once adjustable, it will move up or down based on…
Mortgage Insurance Coverages And LTVs The cost of private mortgage insurance is risked based. This means the less money you put down the more you’ll pay in PMI. A loan…
The Importance of Reviewing Borrower Declarations On The URLA You know what happens when you assume? Don’t fall into the trap of making assumptions when helping your borrower complete their…
Private Mortgage Insurance, Explained. Private mortgage insurance (PMI) comes in many forms. Some prefer the borrower to pay monthly, sometimes the borrower can pay it all up front, sometime the…
D.O. shares real-world stories about how he allowed a borrower’s loan application to go sideways by making assumptions - as it pertains to the required HMDA data required on all…