This free mortgage training video discusses the business structure for a Corporation.
What is the business structure for a Corporation?
DISCLAIMER: The views and opinions expressed in this video are those of the presenter and do not necessarily reflect any official CampusMortgage® policy or position. Examples of analysis performed within the video are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of CampusMortgage®. Nothing contained in this video should be considered legal advice. Due to ongoing changes to mortgage regulations and guidelines, the information presented in this video is time sensitive and subject to change, without notice. Although every effort has been made to ensure accuracy, CampusMortgage does not guarantee the accuracy of any information contained herein. This video is for informational purposes only and not intended to be used in place of any official government guideline or regulation. Each Investor and/or Lender may have additional overlays, which you need to be aware of.
© 2024 CampusMortgage®. All Rights Reserved. Without the prior written permission of Mortgage University, Inc. (DBA CampusMortgage), no part of this video/content may be used, reproduced or transmitted in any form.
What is the business structure for an S Corporation?
DISCLAIMER: The views and opinions expressed in this video are those of the presenter and do not necessarily reflect any official CampusMortgage® policy or position. Examples of analysis performed within the video are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of CampusMortgage®. Nothing contained in this video should be considered legal advice. Due to ongoing changes to mortgage regulations and guidelines, the information presented in this video is time sensitive and subject to change, without notice. Although every effort has been made to ensure accuracy, CampusMortgage does not guarantee the accuracy of any information contained herein. This video is for informational purposes only and not intended to be used in place of any official government guideline or regulation. Each Investor and/or Lender may have additional overlays, which you need to be aware of.
© 2024 CampusMortgage®. All Rights Reserved. Without the prior written permission of Mortgage University, Inc. (DBA CampusMortgage), no part of this video/content may be used, reproduced or transmitted in any form.
What is the business structure for a Partnership?
DISCLAIMER: The views and opinions expressed in this video are those of the presenter and do not necessarily reflect any official CampusMortgage® policy or position. Examples of analysis performed within the video are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of CampusMortgage®. Nothing contained in this video should be considered legal advice. Due to ongoing changes to mortgage regulations and guidelines, the information presented in this video is time sensitive and subject to change, without notice. Although every effort has been made to ensure accuracy, CampusMortgage does not guarantee the accuracy of any information contained herein. This video is for informational purposes only and not intended to be used in place of any official government guideline or regulation. Each Investor and/or Lender may have additional overlays, which you need to be aware of.
© 2024 CampusMortgage®. All Rights Reserved. Without the prior written permission of Mortgage University, Inc. (DBA CampusMortgage), no part of this video/content may be used, reproduced or transmitted in any form.
Can income from a corporation Form 1120 be used if the borrower does not own 100% of the business?
This free mortgage training video discusses if an income from a corporation Form 1120 can be used if the borrower does not own 100% of the business.
DISCLAIMER: The views and opinions expressed in this video are those of the presenter and do not necessarily reflect any official CampusMortgage® policy or position. Examples of analysis performed within the video are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of CampusMortgage®. Nothing contained in this video should be considered legal advice. Due to ongoing changes to mortgage regulations and guidelines, the information presented in this video is time sensitive and subject to change, without notice. Although every effort has been made to ensure accuracy, CampusMortgage does not guarantee the accuracy of any information contained herein. This video is for informational purposes only and not intended to be used in place of any official government guideline or regulation. Each Investor and/or Lender may have additional overlays, which you need to be aware of.
© 2024 CampusMortgage®. All Rights Reserved. Without the prior written permission of Mortgage University, Inc. (DBA CampusMortgage), no part of this video/content may be used, reproduced or transmitted in any form.
What are the rules when using variable income for qualifying?
DISCLAIMER: The views and opinions expressed in this video are those of the presenter and do not necessarily reflect any official CampusMortgage® policy or position. Examples of analysis performed within the video are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of CampusMortgage®. Nothing contained in this video should be considered legal advice. Due to ongoing changes to mortgage regulations and guidelines, the information presented in this video is time sensitive and subject to change, without notice. Although every effort has been made to ensure accuracy, CampusMortgage does not guarantee the accuracy of any information contained herein. This video is for informational purposes only and not intended to be used in place of any official government guideline or regulation. Each Investor and/or Lender may have additional overlays, which you need to be aware of.
© 2024 CampusMortgage®. All Rights Reserved. Without the prior written permission of Mortgage University, Inc. (DBA CampusMortgage), no part of this video/content may be used, reproduced or transmitted in any form.
What are the four C’s of mortgage underwriting?
DISCLAIMER: The views and opinions expressed in this video are those of the presenter and do not necessarily reflect any official CampusMortgage® policy or position. Examples of analysis performed within the video are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of CampusMortgage®. Nothing contained in this video should be considered legal advice. Due to ongoing changes to mortgage regulations and guidelines, the information presented in this video is time sensitive and subject to change, without notice. Although every effort has been made to ensure accuracy, CampusMortgage does not guarantee the accuracy of any information contained herein. This video is for informational purposes only and not intended to be used in place of any official government guideline or regulation. Each Investor and/or Lender may have additional overlays, which you need to be aware of.
© 2024 CampusMortgage®. All Rights Reserved. Without the prior written permission of Mortgage University, Inc. (DBA CampusMortgage), no part of this video/content may be used, reproduced or transmitted in any form.
What types of income require tax returns?
DISCLAIMER: The views and opinions expressed in this video are those of the presenter and do not necessarily reflect any official CampusMortgage® policy or position. Examples of analysis performed within the video are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of CampusMortgage®. Nothing contained in this video should be considered legal advice. Due to ongoing changes to mortgage regulations and guidelines, the information presented in this video is time sensitive and subject to change, without notice. Although every effort has been made to ensure accuracy, CampusMortgage does not guarantee the accuracy of any information contained herein. This video is for informational purposes only and not intended to be used in place of any official government guideline or regulation. Each Investor and/or Lender may have additional overlays, which you need to be aware of.
© 2024 CampusMortgage®. All Rights Reserved. Without the prior written permission of Mortgage University, Inc. (DBA CampusMortgage), no part of this video/content may be used, reproduced or transmitted in any form.
Does an underwriter need to consider self-employment income or loss when using the borrower’s primary source of income for qualifying?
This free mortgage training video discusses if there’s a need for an underwriter to consider self-employment income or loss when using the borrower’s primary source of income for qualifying.
DISCLAIMER: The views and opinions expressed in this video are those of the presenter and do not necessarily reflect any official CampusMortgage® policy or position. Examples of analysis performed within the video are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of CampusMortgage®. Nothing contained in this video should be considered legal advice. Due to ongoing changes to mortgage regulations and guidelines, the information presented in this video is time sensitive and subject to change, without notice. Although every effort has been made to ensure accuracy, CampusMortgage does not guarantee the accuracy of any information contained herein. This video is for informational purposes only and not intended to be used in place of any official government guideline or regulation. Each Investor and/or Lender may have additional overlays, which you need to be aware of.
© 2024 CampusMortgage®. All Rights Reserved. Without the prior written permission of Mortgage University, Inc. (DBA CampusMortgage), no part of this video/content may be used, reproduced or transmitted in any form.
What is the difference between non-variable/fixed income and variable income?
This free mortgage training video discusses the difference between non-variable/fixed income and variable income.
DISCLAIMER: The views and opinions expressed in this video are those of the presenter and do not necessarily reflect any official CampusMortgage® policy or position. Examples of analysis performed within the video are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of CampusMortgage®. Nothing contained in this video should be considered legal advice. Due to ongoing changes to mortgage regulations and guidelines, the information presented in this video is time sensitive and subject to change, without notice. Although every effort has been made to ensure accuracy, CampusMortgage does not guarantee the accuracy of any information contained herein. This video is for informational purposes only and not intended to be used in place of any official government guideline or regulation. Each Investor and/or Lender may have additional overlays, which you need to be aware of.
© 2024 CampusMortgage®. All Rights Reserved. Without the prior written permission of Mortgage University, Inc. (DBA CampusMortgage), no part of this video/content may be used, reproduced or transmitted in any form.
How does the underwriter go about with income analysis and what’s being looked for?
This free mortgage training video discusses income analysis and what’s being looked for by the underwriter.
DISCLAIMER: The views and opinions expressed in this video are those of the presenter and do not necessarily reflect any official CampusMortgage® policy or position. Examples of analysis performed within the video are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of CampusMortgage®. Nothing contained in this video should be considered legal advice. Due to ongoing changes to mortgage regulations and guidelines, the information presented in this video is time sensitive and subject to change, without notice. Although every effort has been made to ensure accuracy, CampusMortgage does not guarantee the accuracy of any information contained herein. This video is for informational purposes only and not intended to be used in place of any official government guideline or regulation. Each Investor and/or Lender may have additional overlays, which you need to be aware of.
© 2024 CampusMortgage®. All Rights Reserved. Without the prior written permission of Mortgage University, Inc. (DBA CampusMortgage), no part of this video/content may be used, reproduced or transmitted in any form.
The appraisal is marked subject to completion based on a repair that is needed. What form is needed to follow up on this from the appraiser?
This free mortgage training video discusses what form is needed to follow up from the appraiser if the appraisal is marked subject to completion based on a repair that is needed.
DISCLAIMER: The views and opinions expressed in this video are those of the presenter and do not necessarily reflect any official CampusMortgage® policy or position. Examples of analysis performed within the video are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of CampusMortgage®. Nothing contained in this video should be considered legal advice. Due to ongoing changes to mortgage regulations and guidelines, the information presented in this video is time sensitive and subject to change, without notice. Although every effort has been made to ensure accuracy, CampusMortgage does not guarantee the accuracy of any information contained herein. This video is for informational purposes only and not intended to be used in place of any official government guideline or regulation. Each Investor and/or Lender may have additional overlays, which you need to be aware of.
© 2024 CampusMortgage®. All Rights Reserved. Without the prior written permission of Mortgage University, Inc. (DBA CampusMortgage), no part of this video/content may be used, reproduced or transmitted in any form.
The borrower states they have tip income higher than what is reported on the paystub year to date. What can we use?
This free mortgage training video discusses what can be used if the borrower states they have tip income higher than what is reported on the paystub year to date.
DISCLAIMER: The views and opinions expressed in this video are those of the presenter and do not necessarily reflect any official CampusMortgage® policy or position. Examples of analysis performed within the video are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of CampusMortgage®. Nothing contained in this video should be considered legal advice. Due to ongoing changes to mortgage regulations and guidelines, the information presented in this video is time sensitive and subject to change, without notice. Although every effort has been made to ensure accuracy, CampusMortgage does not guarantee the accuracy of any information contained herein. This video is for informational purposes only and not intended to be used in place of any official government guideline or regulation. Each Investor and/or Lender may have additional overlays, which you need to be aware of.
© 2024 CampusMortgage®. All Rights Reserved. Without the prior written permission of Mortgage University, Inc. (DBA CampusMortgage), no part of this video/content may be used, reproduced or transmitted in any form.
If the borrower receives a tax refund but the amount is considered a large deposit, does this have to be sourced?
This free mortgage training video discusses if it needs to be sourced when the borrower receives a tax refund but the amount is considered a large deposit.
DISCLAIMER: The views and opinions expressed in this video are those of the presenter and do not necessarily reflect any official CampusMortgage® policy or position. Examples of analysis performed within the video are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of CampusMortgage®. Nothing contained in this video should be considered legal advice. Due to ongoing changes to mortgage regulations and guidelines, the information presented in this video is time sensitive and subject to change, without notice. Although every effort has been made to ensure accuracy, CampusMortgage does not guarantee the accuracy of any information contained herein. This video is for informational purposes only and not intended to be used in place of any official government guideline or regulation. Each Investor and/or Lender may have additional overlays, which you need to be aware of.
© 2024 CampusMortgage®. All Rights Reserved. Without the prior written permission of Mortgage University, Inc. (DBA CampusMortgage), no part of this video/content may be used, reproduced or transmitted in any form.
How do underwriters manually calculate D-T-I if there is a discrepancy in the AUS findings compared to the loan system?
This free mortgage training video discusses how the underwriters manually calculate D-T-I if there is a discrepancy in the AUS findings compared to the loan system.
DISCLAIMER: The views and opinions expressed in this video are those of the presenter and do not necessarily reflect any official CampusMortgage® policy or position. Examples of analysis performed within the video are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of CampusMortgage®. Nothing contained in this video should be considered legal advice. Due to ongoing changes to mortgage regulations and guidelines, the information presented in this video is time sensitive and subject to change, without notice. Although every effort has been made to ensure accuracy, CampusMortgage does not guarantee the accuracy of any information contained herein. This video is for informational purposes only and not intended to be used in place of any official government guideline or regulation. Each Investor and/or Lender may have additional overlays, which you need to be aware of.
© 2024 CampusMortgage®. All Rights Reserved. Without the prior written permission of Mortgage University, Inc. (DBA CampusMortgage), no part of this video/content may be used, reproduced or transmitted in any form.
Can the borrower use PPP loan funds deposited for a down payment on a purchase?
This free mortgage training video discusses if the the borrower can use PPP loan funds deposited for a down payment on a purchase.
DISCLAIMER: The views and opinions expressed in this video are those of the presenter and do not necessarily reflect any official CampusMortgage® policy or position. Examples of analysis performed within the video are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of CampusMortgage®. Nothing contained in this video should be considered legal advice. Due to ongoing changes to mortgage regulations and guidelines, the information presented in this video is time sensitive and subject to change, without notice. Although every effort has been made to ensure accuracy, CampusMortgage does not guarantee the accuracy of any information contained herein. This video is for informational purposes only and not intended to be used in place of any official government guideline or regulation. Each Investor and/or Lender may have additional overlays, which you need to be aware of.
© 2024 CampusMortgage®. All Rights Reserved. Without the prior written permission of Mortgage University, Inc. (DBA CampusMortgage), no part of this video/content may be used, reproduced or transmitted in any form.
If a self-employed borrower shows an increase in earnings on their year-to-date profit and loss, can this be counted in their income calculation?
This free mortgage training video discusses if self-employed borrower’s increase on their year-to-date profit and loss can be counted in their income calculation.
DISCLAIMER: The views and opinions expressed in this video are those of the presenter and do not necessarily reflect any official CampusMortgage® policy or position. Examples of analysis performed within the video are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of CampusMortgage®. Nothing contained in this video should be considered legal advice. Due to ongoing changes to mortgage regulations and guidelines, the information presented in this video is time sensitive and subject to change, without notice. Although every effort has been made to ensure accuracy, CampusMortgage does not guarantee the accuracy of any information contained herein. This video is for informational purposes only and not intended to be used in place of any official government guideline or regulation. Each Investor and/or Lender may have additional overlays, which you need to be aware of.
© 2024 CampusMortgage®. All Rights Reserved. Without the prior written permission of Mortgage University, Inc. (DBA CampusMortgage), no part of this video/content may be used, reproduced or transmitted in any form.
If a borrower is on temporary leave from work, what income is used for qualifying purposes?
This free mortgage training video discusses the type of income used for qualifying purposes if a borrower is on temporary leave from work.
DISCLAIMER: The views and opinions expressed in this video are those of the presenter and do not necessarily reflect any official CampusMortgage® policy or position. Examples of analysis performed within the video are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of CampusMortgage®. Nothing contained in this video should be considered legal advice. Due to ongoing changes to mortgage regulations and guidelines, the information presented in this video is time sensitive and subject to change, without notice. Although every effort has been made to ensure accuracy, CampusMortgage does not guarantee the accuracy of any information contained herein. This video is for informational purposes only and not intended to be used in place of any official government guideline or regulation. Each Investor and/or Lender may have additional overlays, which you need to be aware of.
© 2024 CampusMortgage®. All Rights Reserved. Without the prior written permission of Mortgage University, Inc. (DBA CampusMortgage), no part of this video/content may be used, reproduced or transmitted in any form.
If a purchase contract has counter offers that follow, is the signature page of the original contract required to be fully executed?
This free mortgage training video discusses the signature page of the original contract required to be fully executed if a purchase contract has counter offers that follow.
DISCLAIMER: The views and opinions expressed in this video are those of the presenter and do not necessarily reflect any official CampusMortgage® policy or position. Examples of analysis performed within the video are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of CampusMortgage®. Nothing contained in this video should be considered legal advice. Due to ongoing changes to mortgage regulations and guidelines, the information presented in this video is time sensitive and subject to change, without notice. Although every effort has been made to ensure accuracy, CampusMortgage does not guarantee the accuracy of any information contained herein. This video is for informational purposes only and not intended to be used in place of any official government guideline or regulation. Each Investor and/or Lender may have additional overlays, which you need to be aware of.
© 2024 CampusMortgage®. All Rights Reserved. Without the prior written permission of Mortgage University, Inc. (DBA CampusMortgage), no part of this video/content may be used, reproduced or transmitted in any form.
Can crypto currency be used as a source of funds for down payment or closing costs?
This free mortgage training video discusses using crypto currency as a source of funds for down payment or closing costs.
DISCLAIMER: The views and opinions expressed in this video are those of the presenter and do not necessarily reflect any official CampusMortgage® policy or position. Examples of analysis performed within the video are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of CampusMortgage®. Nothing contained in this video should be considered legal advice. Due to ongoing changes to mortgage regulations and guidelines, the information presented in this video is time sensitive and subject to change, without notice. Although every effort has been made to ensure accuracy, CampusMortgage does not guarantee the accuracy of any information contained herein. This video is for informational purposes only and not intended to be used in place of any official government guideline or regulation. Each Investor and/or Lender may have additional overlays, which you need to be aware of.
© 2024 CampusMortgage®. All Rights Reserved. Without the prior written permission of Mortgage University, Inc. (DBA CampusMortgage), no part of this video/content may be used, reproduced or transmitted in any form.
Can a borrower get a gift from a friend for a down payment on a purchase?
This free mortgage training video discusses getting a gift from a friend for a down payment on a purchase.
DISCLAIMER: The views and opinions expressed in this video are those of the presenter and do not necessarily reflect any official CampusMortgage® policy or position. Examples of analysis performed within the video are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of CampusMortgage®. Nothing contained in this video should be considered legal advice. Due to ongoing changes to mortgage regulations and guidelines, the information presented in this video is time sensitive and subject to change, without notice. Although every effort has been made to ensure accuracy, CampusMortgage does not guarantee the accuracy of any information contained herein. This video is for informational purposes only and not intended to be used in place of any official government guideline or regulation. Each Investor and/or Lender may have additional overlays, which you need to be aware of.
© 2024 CampusMortgage®. All Rights Reserved. Without the prior written permission of Mortgage University, Inc. (DBA CampusMortgage), no part of this video/content may be used, reproduced or transmitted in any form.
“NAMU is truly the voice of today’s mortgage underwriter. As such, we aligned ourselves with NAMU to offer our NMLS training classes to those mortgage professionals wishing to also get NMLS licensed.” ”
“... a professional certification can increase an employee’s salary by five to 10 percent. In the United States, the National Association of Mortgage Underwriters (NAMU) is the primary institution for mortgage underwriters seeking certification.”
“5-STAR RATING”
“Requirements and Qualifications: Certification as a Mortgage Underwriter (e.g., NAMP or NAMU certification) is a plus.”
BOOTCAMP
The Official NAMU® Underwriter Boot Camp™
The Official NAMP® Contract Processor Boot Camp™
The Official NAMP® Processor Boot Camp™
Certification
Certified Mortgage Underwriter (NAMU®-CMU®)
Certified Master Mortgage Underwriter (NAMU®-CMMU®)
Certified Ambassador Mortgage Underwriter (NAMU®-CAMU®)
Certified FHA Manual Underwriter (NAMU®-CFMU)
Certified Mortgage QC Specialist (NAMU®-CMQCS)
Certified in Commercial Und. & Processing (NAMU®-CCUP)
Certified in Mortgage Regulatory Compliance (NAMU®-CMRC)
Certified HELOC Specialist (NAMU®-CHS)
Common questions
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Written By: Stacey Sprain
As an FHA originator, processor or underwriter, it’s likely that in the ongoing foreclosure market you’ll run across a HUD REO loan at some point. The purpose of this multi-part article is to provide you with some useful information to help in your endeavors.