Mortgage Lender Overlays Versus Agency Lending Guidelines

Mortgage Lender Overlays Versus Agency Lending Guidelines. Mortgage Companies Arlington Tx Best Mortgage Companies Arlington Tx 682.257.8747

Mortgage Lender Overlays Versus Agency Lending Guidelines video duration 2 Minute(s) 27 Second(s), published by Gustan Cho Associates on 29 04 2019 - 20:09:53.

Agency Guidelines Versus Mortgage Lender Overlays All lenders needs to meet federal mortgage guidelines
However, every lender can have their own Todd McDougall gives a brief breakdown on FHA Mortgages
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Agency Guidelines Versus Mortgage Lender Overlays
All lenders needs to meet federal mortgage guidelines.

However, every lender can have their own mortgage lender overlays where the lending requirements are higher, above, and beyond those of federal mortgage guidelines
This is the reason why some lenders will only accept borrowers with 620 to 640 credit scores when FHA Guidelines only require a 580 credit score
This is why some lenders require borrowers to pay off outstanding collections and charged off accounts when other lenders like myself do not
FHA does not require borrowers to pay outstanding collections and charged off accounts to qualify for FHA Loans
Bottom line is that just because a borrower cannot get qualified with one lender does not mean they cannot qualify with another lender

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