Hands On Guide: Jr. Underwriting

Version History

Version	Date	Change
1.0	October 30, 2023	N/A

Content Outline

Module 1: Introduction

• How this Hands-On Guide Works

Module 2: Application & Loan Terms

• Borrower Identification

• NMLS Search

• Automated Underwriting System (AUS) Report

• Loan Program Checklists

Module 3: Credit Documents

• Tri-Merged Credit Report

• Liens & Judgements Report

• Real Estate Owned (REO) Documents

Module 4: Income Documents

• Employer 411 / Reverse Search

• Written Verification of Employment (WVOE)

• Pay Stubs

• W-2s

• 1099s

• Tax Returns

• Tax Transcripts

• Social Security Income (SSI) Award Letter

• Income Worksheet

• Divorce Decree (Court Mandated Child Support/Alimony)

Module 5: Assets Documents

• Bank Statements

• Portfolio Account Statements

• Gift Letter

Module 6: Title Documents

• Preliminary Title Report / Title Commitment

• Closing Protection Letter (CPL)

• Wiring Instructions

• Survey

• Errors & Omissions (E&O)

• Earnest Money Deposit (EMD) Receipt

Module 7: Collateral Documents

• Appraisal Report

• Appraiser Independence Requirements (AIR) Certificate

• USPS Search

• Purchase Contract

• Mortgage Insurance (MI) Certificate/Quote

• Tax Certificate

• Homeowner’s Insurance (HOI)

• Evidence of Insurance (EOI)

• Master Insurance

• Homeowner’s Association (HOA) Statement

• Flood Certificate

• Flood Hazard Notice