Mortgage Info for Homes and Small Business Financing

Being Disruptive Using Cash

I am pocketing my credit and debit cards and using cash as often as possible.  And I have no plans of ever using my phone to pay for anything. Since the early ’70s the offers for credit and use by consumers have skyrocketed.  In August 2016, U.S. consumer debt rose 8.5% to $3.687 trillion.  TRILLION!  Of this,… Continue Reading

No Income Verification NIV Investment Property Loans

NIV investment property loans return to the market Remember a decade ago when you could get a mortgage if you were breathing and able to sign loan docs?One of these mortgage types was the stated income loan.  You told the lender your occupation and “stated” your income.  The stated income on the application was never verified.… Continue Reading

NO Credit Score with Automated Underwriting

No credit score! DU Version 10.0 will include the ability to underwrite mortgage loan requests in which no borrowers have a credit score. Besides incorporating Trended Credit Data into the new automated underwriting engine, this version of DU has the ability to approve borrowers who lack any FICO credit score. Lack of Traditional Credit Having… Continue Reading

Desktop Underwriter DU 10.0 and Trended Credit Data

DU 10.0 and trended credit data are back! Fannie Mae recently announced that Desktop Underwriter (DU) Version 10.0 with the incorporation of Trended Credit Data will now be released during the weekend of September 24th. This new announcement comes after their initial push back from an anticipated release during the weekend of June 25th. We… Continue Reading

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