How to use the Scenario Desk
|
The scenario desk helps you find which investors have eligible programs for unique and hard to accommodate loan scenarios. To search the database, enter a keyword and click on the "Search" button, or click on a category for a list of topics. The results will help you learn how each investor handles your scenario.
|
|
|
Click on the topic below to learn how your investor will handle unique loan scenarios. Or search by Keyword.
|
|
|
|
|
|
Select a category
|
|
|
|
|
|
Available topics for: Credit
|
|
|
|
|
|
|
| |
| | | |
| M AND T Mortgage | Credit | Payment Shock | Payment Shock is defined as the percentage increase from the current housing payment to the proposed housing payment.
M&T recognizes that one of the strongest indicators of a borrower’s ability to pay is the historic record of handling housing
expense. Significant payment shock, in combination with other identifiable risk factors, i.e. low credit score, low liquid
reserves, high LTV/CLTV, and high DTI, should be carefully analyzed by the underwriter, as an integral part of the final loan
decision. Borrowers with significant payment shock may require additional documentation, or strong and verifiable compensating
factors to justify the ability to pay. |
| Merrimack Mortgage | Credit | Payment Shock | FNMA "My Community" and "Community Solutions" - MMC reserves the right to consider payment shock regardless of DU findings. |
|
|
|
|
Click on an investor name to access their profile, view news, and search for guidelines.
|
|
|
|
|
|
|
|
|