Confession of a Loan Officer

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Today Brian Stevens has a very interesting conversation with a Loan Officer.  Tune in to hear his confession.



  • FHA will also take up to a 55 ratio. This would certainly have compensating factors to make that approvable.

    Dan April 14, 2016 5:01 am Reply
  • Have the Ex cosigner or go FHA

    Ed hoffman April 14, 2016 5:24 am Reply
  • We have dealt with this scenario and reduced the income as it was paid pre-tax in that scenario. 95% ltv conforming.

    Frederic Guitton April 14, 2016 7:29 am Reply
  • Was he denied by a computer? When does the common sense kick in? This is why local credit unions are getting a larger market share.

    Divedude April 14, 2016 9:10 am Reply
  • depends on the classification of the 22K. if it is child support (doubt it would be that high) then, yes, he is in trouble. what ever component of the 22k that is alimony should be taken off income versus put in as back end debt.

    michael dececco April 14, 2016 9:43 am Reply
  • So many proponents of FHA? Really? They’re program sucks. A community bank with a portfolio would do this deal all day long.

    BP22 April 15, 2016 9:06 am Reply
  • WHAT?? Angel Oak Mortgage Solutions can do this and much more aggressive scenarios. It’s all about ATR; this scenario sounds like he has it covered. What a softball loan scenario….bring on the 580 FICO, 50 DTI $1,000,000 purchase at 80% LTV. Yep, Angel Oak can do that!

    Eric Morgenson April 15, 2016 10:30 am Reply

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