Mortgage Underwriting Policy Manual

Tasked by current legislation, agency guidelines or your corporate infrastructure to create your company's underwriting manual? Have you translated CFPB guidance for ATR and QMs into your underwriting standards? Don't know how to get started? We do, with our Mortgage Underwriting Policy Manual.

Overview

Use this manual for your employees or external customers based on your business model. This manual includes sections on Ability To Repay, Qualified Mortgages, Appendix Q variances with employment, income and liability guidelines, as well as Conventional and Government Loans.



Benefits

The plan features the following benefits:

  • Complete AllRegs' Mortgage Underwriting Policy Manual, saving you development time and resources
  • Applicable for employees or external customers based on your business model
  • Includes sections on Conventional and Government Loans
  • The template is delivered via email within one business day after purchase
  • Meet your regulatory or internal compliance requirements
  • Affordable one-time purchase fees

Optional Services

Maintenance: Receive regular and ongoing industry updates to keep your policy within regulatory requirements.

Publishing: Publish your manual, including your company procedures, in AllRegs Online to complete your policy manual solution.

Contact your account manager for information regarding these optional services!


Policy Manual
Mortgage Underwriting
Section Title Priority Action
5.5.2.1 Refinance Seasoning Requirements Optional Enhancement This is written as Freddie Mac’s requirement and is the most conservative. If your institution has differing requirements, revise this section accordingly.
5.6 and subtopics Texas Owner-Occupied Homestead Property Optional Enhancement This section includes Texas lending guidance and updated requirements related to amendments to Texas lending laws, effective January 1, 2018. You may remove this is your organization does not lend in Texas.
6 Fannie Mae Desktop Underwriter® Optional Enhancement This may not apply to everyone. Consider removing this if not applicable.
7 Freddie Mac Loan Product Advisor® Optional Enhancement This may not apply to everyone. Consider removing this if not applicable.
8 Conforming Conventional Loans Recommended Best Practice Verify that LTVs, ratios, and other limits agree with your credit policy.
9.4 Appraisal Delivery Requirements Recommended Best Practicev Edit this section to reflect your institutions policy regarding appraisal waivers and delivery requirements.
10 Specific Property Types Recommended Best Practice Revise to reflect your specific property mix (i.e. Co-ops, manufactured housing, geographic restrictions).
11 Non-Conforming Conventional Loans Recommended Best Practice Verify that LTVs, ratios and other limits agree with your credit policy and investor requirements.
12 Government Loans Optional Enhancement Includes programs and general qualification criteria that may be impacted by your internal credit policy or overlays. Consider removing this content if you do not do government loans.
13 Interest Only Guidelines Optional Enhancement Remove this or note in this section if you do not do interest only loans.
14 New Constructions Optional Enhancement Revise or remove this content if you do not do construction lending.
15 Relocation Guidelines Optional Enhancement This may not apply to everyone. Consider if you should remove or note this section as not applicable.