Income Calculation Tool
A calculation tool created by The Housing Assistant
Elite
FNMA Desktop Underwriter (DU) vs. Desktop Originator (DO)
This guide breaks down the differences between DU (Desktop Underwriter) and DO (Desktop Originator), the risks, the reasons to use each, and how to pick the right tool based on your mortgage role and workflow.
FICO 10T and VanatgeScore Guide
With the introduction of FICO® Score 10T and VantageScore® 4.0, lenders now have more predictive models that incorporate trended data, alternative data, and advanced analytics. This guide explains each model, how they differ, and what trending data means for both lenders and borrowers.
AUS Interpretation Guide
This guide helps Loan Officers and processors break down Fannie Mae’s
Desktop Underwriter (DU) and Freddie Mac’s Loan Product Advisor (LPA) findings, into plain English.
Understanding Loan Level Price Adjustments (LLPAs)
This guide breaks down what LLPAs are, why they exist, how they’re calculated, and how they impact mortgage affordability.
Credit Rapid Rescore
A credit rapid rescore is a powerful tool used in the mortgage industry to update a
borrower’s credit report quickly, usually within 2 to 5 business days. It can make a
meaningful difference in whether a borrower qualifies for a mortgage or receives better pricing by helping improve their credit score faster than waiting for traditional reporting cycles.
Mortgage Processing Optimization Guide
A Detailed Guide Provided by The Housing Assistant for Realtor Use
Credit Education Guide for Hombuyers
A Detailed Guide Provided by The Housing Assistant for Realtor Use
How to Process, Underwrite, and Settle a Co-Op Loan
A Co-Op (short for Cooperative Housing) isn’t your typical real estate deal. Instead of
owning the actual unit, the borrower buys shares in a corporation that owns the building, and that share gives them the right to live in a specific unit. Think of it like a condo’s quirky, rule-loving cousin.
Co-Op By-Laws: What You Need to Know
By-Laws are the official rules and regulations that govern how the co-op operates. Think of them as the constitution of the building. They dictate everything from who can live there, how decisions are made, what’s allowed (or not), and how shares are transferred. They’re critical not just for the borrower, but for you, the processor or underwriter, to assess
building viability and compliance.