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.
Pro
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.
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.
Understanding DPA Types
Down Payment Assistance (DPA) programs come in all shapes and sizes, just like
borrowers’ credit scores. Whether you’re buying your first home or helping others do it, knowing the difference between a grant and a soft second can save money and headaches.
Understanding MBS, MRB, and TBA
This guide breaks down each in plain language and helps you understand how they compare.
Understanding Rate Locks in Mortgage Lending
This guide is designed to help borrowers and mortgage professionals understand what a rate lock is, how it works, and why it matters.
Understanding Document Custodian in Mortgage Lending
This guide walks you through the what, when, and why—so your team is prepared well before documents are sent out for certification.