Affordability has been top of mind for many in the housing industry, yet homeownership for many low to moderate income prospective borrowers feels out of reach. That’s why those of us in the mortgage industry understand the importance of assisting qualified borrowers to responsibly achieve the dream of homeownership, regardless of income level. One avenue […]
In recent years, the mortgage industry has seen a rise in occupancy misrepresentation. It can be difficult to identify this type of misrepresentation during the origination process. However, with the increasing frequency, it’s important for all industry participants to be aware of common red flags and steps that can be taken to help decrease the […]
When a borrower pursues the homebuying process, they may come across the opportunity to assume another borrower’s home loan. But how do you approach these assumptions during the underwriting process? Our very own Robert Grolemund, Regional Underwriter, explains what an assumption is, why it may be an option for borrowers, and what Enact requires for […]
[Last updated February 2025; originally published July 29, 2021] It’s an ordinary day of underwriting mortgage files and then you see it – a restricted stock unit (RSU) listed as income for the borrower. How will you handle this type of income? Depending on where you work, this may or may not be a common […]
The mortgage process involves diligence and timeliness to ensure that borrowers can meet their closing date – that diligence is also required to master the appraisal review process. Ensuring you know the ins and outs of the appraisal review is imperative to help your borrowers meet that end goal on time. Yet, you may encounter […]
Checked for accuracy on February 12, 2025. Accessory Dwelling Units (ADU), previously known as in-law suites or accessory units, may be popping up more in the loans you’re working on. They may add value to a homeowner’s property and provide more housing opportunities for family members to live – around 61% of homeowners have cited […]
Referrals and networking are key tactics that many of us rely on to generate business in the mortgage industry. These strategies are used to help build one’s sales pipeline. But how do you proceed at the underwriting stage when your borrower profile involves a non-arm’s length transaction? Our very own Natalie Stokes, one of our […]
Underwriting non-delegated loans requires a lot of diligence and consideration to ensure a successful first pass approval. When you submit a MI application with us or your integration, we have resources to help you get your non-delegated loan submission approved the first time. We understand how important it is to be effective and efficient, saving […]
As we face the challenges of today’s mortgage marketplace, now more than ever, it’s important for us to help meet you where you are. Business needs evolve but what won’t change is an emphasis on quality underwriting. We can help you as your business scales or if you face fluctuations in loan volume – navigating […]
Being able to cancel mortgage insurance is a huge selling point for you as a lender. As you’re talking to borrowers that might be considering MI in order to finance a home, talking about the benefits of MI – especially the fact that it’s cancelable – can help them feel more comfortable about having MI on their […]