#MotivationalMonday – The biggest advantage any one LO can have over another to “win” the business is truly educating the borrower and not just selling them a loan with the lowest rate. It’s being a consultant, a financial advocate to the client to educate them about their own credit and understanding how guideline work.
Today’s video I go over some common “collection” questions and a way to look at a report to know in advance if the borrower will qualify. Without having to run DU. I suggest yes, you run DU to actually “read” what DU says. But there are some guidelines written in stone. You should know what to look for up front.
Some people are good at doing this and calculating DTI correctly to begin with. 99% of bad applications has to do with, missing information and or guidelines not understood or taken into consideration. This is absolutely one of them in regards to manual underwrites.
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