1) Michael Brown is 25% owner of a corporation called ABC Printing Co. which files a return with the IRS using form 1120. He has a car loan on his credit report open for the past 24 months being paid on time. He indicates that said car loan is paid by his corporation and should not be included in his DTI. What documentation and analysis would be required in order to exclude this debt?

2) The credit report indicates a mortgage that was “settled for less than amount owed,” in August 2015. What further information would you need in order to determine what the waiting period would be before borrower can obtain FNMA financing?

Don't use plagiarized sources. Get Your Custom Essay on
Just from $13/Page
Order Essay

3) Tony Johnson receives social security income in the amount of $2,000 per month according to the award letter in the file from SSA. Loan was submitted with income being “grossed-up” by 25%. What documentation would you look for to determine if John’s SSI income could be calculated this way?

4) Mary Jones applied for a mortgage & works as a nurse at ABC Hospital. Her 2020 ytd paystub with pay period ending October 31st indicates YTD base earnings of $29,300 and YTD overtime of $3,800. Using anything less than $4,000 gross income per month would result in an unacceptable DTI. Please see below information obtained from her employer as of 10/31/2020 and indicate what additional conditions would be required if any in regards to her income. (Please show calculations)

5) Using the same information from #4 above, but the borrower is able to provide documentation that they were on unpaid leave from 4/1/2020 – 6/30/2020. How does this impact your decision and calculations? (please explain and show calculations)

6) Per FNMA Guidelines, how are reserves calculated for multiple financed properties in the below situations (complete the highlighted boxes)

a. Borrower has 4 financed properties

OccupancyOutstanding UPBMonthly PITIAReserves Calculation
Subject: 2nd Home$100,000$1,000__mos or ___%$_______
Primary$100,000$1,000__mos or ___%$_______
Investor$100,000$1,000__mos or ___%$_______
Investor$100,000$1,000__mos or ____%$_______
Total Reserves:$______

b. Borrower has 6 financed properties, one is pending sale

OccupancyOutstanding UPBMonthly PITIAReserves Calculation
Subject: Investor$100,000$1,000__mos or ___%$_______
Principal$100,000$1,000__mos or ___%$_______
Investor$100,000$1,000__mos or ___%$_______
Investor$100,000$1,000__mos or ___%$_______
Investor (pending sale)$100,000$1,000__mos or ___%$_______
Investor$100,000$1,000__mos or ___%$_______
300000Total Reserves$______

7) The borrower is doing a rate/term refinance on their single family, primary residence. They have 2 other financed investment properties and need to use rental income from both to qualify. You see both properties have mortgages on the borrower’s credit report that supports the dates of purchase stated below, with no delinquent payments. Using the two scenarios below, please condition for the applicable documentation:

a. 2 unit Investment property, purchased in May 2020

b. Single family investment property, purchased in 2018

YTD20192018Avg # hours worked /week40

Base29,300.00$ 43,500.00$ 42,700.00$ Hourly Rate22.00$

OT3,800.00$ 10,000.00$ 9,500.00$ Date of last raise1/1/2020

Other50.00$ 75.00$ 250.00$ Amount of last raise$1 / hour

Total33,150.00$ 53,575.00$ 52,450.00$

Calculate the price
Make an order in advance and get the best price
Pages (550 words)
*Price with a welcome 15% discount applied.
Pro tip: If you want to save more money and pay the lowest price, you need to set a more extended deadline.
We know how difficult it is to be a student these days. That's why our prices are one of the most affordable on the market, and there are no hidden fees.

Instead, we offer bonuses, discounts, and free services to make your experience outstanding.
How it works
Receive a 100% original paper that will pass Turnitin from a top essay writing service
step 1
Upload your instructions
Fill out the order form and provide paper details. You can even attach screenshots or add additional instructions later. If something is not clear or missing, the writer will contact you for clarification.
Pro service tips
How to get the most out of your experience with Writall
One writer throughout the entire course
If you like the writer, you can hire them again. Just copy & paste their ID on the order form ("Preferred Writer's ID" field). This way, your vocabulary will be uniform, and the writer will be aware of your needs.
The same paper from different writers
You can order essay or any other work from two different writers to choose the best one or give another version to a friend. This can be done through the add-on "Same paper from another writer."
Copy of sources used by the writer
Our college essay writers work with ScienceDirect and other databases. They can send you articles or materials used in PDF or through screenshots. Just tick the "Copy of sources" field on the order form.
See why 20k+ students have chosen us as their sole writing assistance provider
Check out the latest reviews and opinions submitted by real customers worldwide and make an informed decision.
Amazing job. Hellen Is fantastic
Customer 454983, December 9th, 2021
Senior Seminar
Great Job!!! Thank you
Customer 453503, April 21st, 2020
Business Studies
Thank you!
Customer 455509, June 1st, 2023
Great work as always
Customer 454983, January 28th, 2022
Great paper and done before the deadline. Thank you
Customer 454659, October 20th, 2021
Business Studies
Thank you very much You did such an amazing job!
Customer 455075, November 16th, 2021
i like the customer services and the revision was on time. This is my third time using this website. i would recommend them. Just specify what you want and you will get an A in your paper.
Customer 454429, June 16th, 2020
Customer 454991, November 30th, 2021
I got my essay 3 hours earlier, use this site instead of papersowl or edubirdie trust me I got scammed. This website is actually legit :) - Happy
Customer 455051, November 1st, 2021
Great stuff
Customer 455371, June 26th, 2022
Got an A in this project.
Customer 453877, September 5th, 2020
Thank you for your work
Customer 455057, March 2nd, 2023
Customer reviews in total
Current satisfaction rate
3 pages
Average paper length
Customers referred by a friend
15% OFF your first order
Use a coupon FIRST15 and enjoy expert help with any task at the most affordable price.
Claim my 15% OFF Order in Chat
Live Chat+1(978) 822-0999EmailWhatsApp