Underwriting Skills Quiz

What's Your Name?

DOCUMENT SET 1: After reviewing Document Set 1 what conditions, if any, would you add to this loan (assuming your borrower was the only accountholder listed on the account and your borrowers total monthly income is $4750, these are the only asset statements provided, this is a conventional loan and employer is DaVita). Remember: please answer in condition format.

DOCUMENT SET 2: After reviewing Document Set 2 what conditions, if any, would you add to this loan (assuming a loan amount of $183,000). Remember: please answer in condition format.

DOCUMENT SET 3: Assuming you can use the borrowers income, what is the amount of the borrowers monthly earnings? (Please provide a dollar figure as your answer)

DOCUMENT SET 3: Can the calculate income from the returns provided be used in qualifying income? Why or why not?

DOCUMENT SET 4: What is the amount of qualifying income from your review of these returns?

DOCUMENT SET 5: What is the monthly rental income amount that can be used from the 9730 property? (Assume there is no mortgage on the property)

DOCUMENT SET 5: What is the monthly rental income amount that can be used from the 5044 property assuming that impounds are escrowed? (Assume the monthly mortgage payment is $1,500)

DOCUMENT SET 5: What is the monthly rental income amount that can be used from the 202 property assuming the impounds are not escrowed? (Assume the monthly mortgage payment is $1,500)

DOCUMENT SET 5: You notice there is no mortgage reporting for the 5044 property reflected on the credit report. What, if anything, would you condition for on the loan? Please respond in condition format.

DOCUMENT SET 6: What is the borrowers qualifying income (including any overtime, bonus, commission, auto allowance or other income available)?