What are the requirements to use business assets?
Business Assets Business assets may be an acceptable source of funds for the down payment, closing costs, and financial reserves when a borrower...
What are the requirements when employment is scheduled to begin after the loan closes?
Employment Offers or ContractsIf the borrower is scheduled to begin employment under the terms of an employment offer or contract, the lender may deliver...
Are collection accounts and non-mortgage charge-offs required to be paid off?
Manually Underwritten LoansFor manually underwritten loans, collection accounts and charge-offs on non-mortgage accounts do not have to be paid off ...