- Description
-
Details
USDA for Mortgage Professionals
This 4-hour course discusses the fundamentals of originating and underwriting USDA loans including characteristics, eligibility, income types, credit and debt, and properties.
Topics also include:- Benefits of USDA
- Loan Note Guaranty
- Loan Purposes (and Prohibited)
- Occupancy
- Guarantee Fees
- GUS
- Repayment Income and Ability
- Debt Ratio Waiver
- Compensating Factors
- Manual Underwrites
- Downgrading and “Accept”
- Debts, Collections, Judgements, Disputed Accounts
- Credit Concerns
- Funds, Gifts, Cash On Hand
- Depository Accounts
- Credit Reports and Exemptions
- Appraisal
- Repair and Escrows
- Guarantee Loan Process
- Forms
- Reviews
-