FHA has instituted a guideline for self employed borrowers that require that they give the lender the two years tax returns AND a profit and loss statement that is for YTD (year to date).
Some fun CNBC highlights from over the years. Enjoy! Like this:Like Loading…
Insurance companies. Insurance Brokers. Love them or hate them….
If you are in the mortgage business, you hate them.
Rates, like stock prices, can change during a day. Why? Markets move because of world events, government reports, supply/demand features and just the whim of the market. The price of the bonds that mortgages gauge are called Mortgage Backed Securities…. Continue Reading →
We have all committed mortgage fraud in the past but we did not realize it. Fannie, Freddie, etc. says that the seller can only give a credit “towards closing costs” even though they are a credit for repairs. Isn’t it silly that we must label it that way?