Mortgage Underwriting Quality Control

Post Recession, agencies like Fannie, Freddie and FHA has a mandate for quality control reviews to be done and reported by lenders. This requirement opened up new avenues for mortgage service providers, specifically at offshore facilities, since this activity is preferably outsourced to third party vendor. Quality reviews involves verification of accuracy and integrity of [...]

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Calculating Base Income through Pay-stub

Base Income (Fix Income) from employment is one of the most stable form of income considered for qualifying purpose. In an application borrower is expected to provide details on his employment for most recent two years. A two years employment history can be through one employer or in few scenarios it can be through multiple [...]

Qualifying Income

Borrower's Capacity to make mortgage payment is one of the key component reviewed by underwriter while dealing with mortgage application. Borrower's capacity is analysed and is directly based on his gross monthly income. Income to be used for qualifying purpose can be from different sources. Majority of the application which are approved are for salaried [...]