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!
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?