NON QUALIFIED MORTGAGE UNDERWRITING

Non-QM Generic Underwriting

This course will teach you the general concepts of NON-QM Underwriting. One important point to remember is NON-QM are portfolio loans. This means the guidelines will change from Lender to Lender. There are, however; some common loan programs which almost all Lenders participating in NON-QM Loans will cater to.

NON QUALIFIED MORTGAGE UNDERWRITING

Non-QM - Alternative Income (Bank Statements - 12/24)

This course will help you get trained on a very common NON-QM loan program called as Alternative Income Documentation. In this program, the Borrower's income is calculated using Personal or Business Bank Statements for a period of either 12 or 24 months. This loan program is more suited for Self Employed Borrowers.

NON QUALIFIED MORTGAGE UNDERWRITING

Non-QM - Debt Service Coverage Ratio

This course will train you in a common loan program that most Lenders participating in NON-QM loans will offer called as Debt Service Coverage Ratio Program (DSCR). This type of loan is approved on the basis of the DSCR which is calculated using an Investment Property's Income and the proposed expenses.

NON QUALIFIED MORTGAGE UNDERWRITING

Non-QM - Full Documentation & Foreign Nationals

This course will help you get trained in Full Documentation (1 and 2 years) and Foreign National Program. The Full Documentation loan program is similar to regular Agency Underwriting and uses almost similar documentation. The Foreign National Loan Program is designed for Borrowers who are Non US Citizens / Non Permanent Resident Alien.