Evaluation
Fannie Mae’s underwriting rules were an evaluation of your own borrower’s (otherwise wife or husband’s towards the extent necessary for relevant legislation) guarantee investment, credit score, h2o supplies, credible and you may continual income, and collective impression these and other risk factors possess toward home loan performance. Fannie Mae’s underwriting principles permit the lender to consider individuals situations into the evaluating a beneficial borrower’s willingness and you can power to pay the borrowed funds loan. The lender have to make sure suggestions provided with the brand new debtor throughout the mortgage application procedure is right and you may done; tend to be documentation on the loan file you to definitely aids the fresh new lender’s evaluation of the borrower’s credit rating, employment and income, property, or other monetary recommendations useful qualifying; perform a thorough risk evaluation each and every real estate loan application; and bring a choice so you’re able to often accept otherwise decline the loan application for the loan. (більше…)