If you live in Huntington Beach you could be enjoying this gorgeous sunset!
Wednesday, September 29, 2010
Lillian has sent you message. Credit reports submitted with each loan must contain all credit available in the accessed repositories. They also must provide an account of all credit, residence history, and public records information available in the credit repositories of each borrower responsible for the mortgage debt. The minimum credit report required by FHA is a three repository merged credit report (TRMCR). A Residential Mortgage Credit Report (RMCR) from an independent consumer-reporting agency also may be used.
While the TRMCR should prove sufficient for processing most loan applications, the following circumstances require an RMCR:
a. The borrower(s) disputes the ownership of accounts on the TRMCR; or
b. The borrower(s) claims that collections, judgments, or liens listed as open on the TRMCR have been paid and cannot provide separate documentation supporting this claim; or
c. The borrower claims that certain debts shown on the TRMCR have different balances and/or payments and cannot provide current statements (less than 30 days old) attesting to this claim; or
d. The lenders underwriter determines that it would be prudent to use an RMCR in lieu of a TRMCR to underwrite the loan properly.
RMCRs must access at least two named repositories and meet all the requirements for the TRMCR, plus the following:
a. Provide a detailed account of the borrowers employment history.
b. Verify each borrowers current employment and income (if obtainable). It also must include a statement attesting to certification of employment and date verified. If this information is not obtained through an interview with the employer, the credit reporting agency must state why this action was not taken.
c. Each account with a balance must have been checked with the creditor within 90 days of the credit report.
A Non-Traditional Mortgage Credit Report (NTMCR) is designed to assess the credit history of a borrower without the types of trade references normally appearing on a traditional credit report. It can be used either as a substitute for a TRMCR or an RMCR for a borrower without a credit history with traditional credit grantors or as a supplement to a traditional credit report having an insufficient number of trade items reported.
A NTMCR may not, however, be used to enhance the credit history of a borrower with a poor payment record or to manufacture a credit report for a borrower without a verifiable credit history. It also may not be used to offset derogatory references found in the borrowers traditional credit, such as collections and judgments.
If the information obtained through the standard credit report is not sufficient for the lender to make a prudent underwriting decision, the lenders may use a NTMCR developed by a credit-reporting agency that documents all non-traditional credit references.
Otherwise, the lender must develop its own non-traditional credit history that is consistent with the requirements for credit reporting agencies described in HUD Handbook 4155.1 .
The credit-reporting agency should consider only the types of credit that require the mortgage applicant to make periodic payments on a regular basis. These types of credit include:
Additional credit report requirements can be found in the referenced handbook.
Handbook 4155.1: 1.4., 1.5
While the TRMCR should prove sufficient for processing most loan applications, the following circumstances require an RMCR:
a. The borrower(s) disputes the ownership of accounts on the TRMCR; or
b. The borrower(s) claims that collections, judgments, or liens listed as open on the TRMCR have been paid and cannot provide separate documentation supporting this claim; or
c. The borrower claims that certain debts shown on the TRMCR have different balances and/or payments and cannot provide current statements (less than 30 days old) attesting to this claim; or
d. The lenders underwriter determines that it would be prudent to use an RMCR in lieu of a TRMCR to underwrite the loan properly.
RMCRs must access at least two named repositories and meet all the requirements for the TRMCR, plus the following:
a. Provide a detailed account of the borrowers employment history.
b. Verify each borrowers current employment and income (if obtainable). It also must include a statement attesting to certification of employment and date verified. If this information is not obtained through an interview with the employer, the credit reporting agency must state why this action was not taken.
c. Each account with a balance must have been checked with the creditor within 90 days of the credit report.
A Non-Traditional Mortgage Credit Report (NTMCR) is designed to assess the credit history of a borrower without the types of trade references normally appearing on a traditional credit report. It can be used either as a substitute for a TRMCR or an RMCR for a borrower without a credit history with traditional credit grantors or as a supplement to a traditional credit report having an insufficient number of trade items reported.
A NTMCR may not, however, be used to enhance the credit history of a borrower with a poor payment record or to manufacture a credit report for a borrower without a verifiable credit history. It also may not be used to offset derogatory references found in the borrowers traditional credit, such as collections and judgments.
If the information obtained through the standard credit report is not sufficient for the lender to make a prudent underwriting decision, the lenders may use a NTMCR developed by a credit-reporting agency that documents all non-traditional credit references.
Otherwise, the lender must develop its own non-traditional credit history that is consistent with the requirements for credit reporting agencies described in HUD Handbook 4155.1 .
The credit-reporting agency should consider only the types of credit that require the mortgage applicant to make periodic payments on a regular basis. These types of credit include:
Additional credit report requirements can be found in the referenced handbook.
Handbook 4155.1: 1.4., 1.5
Monday, September 27, 2010
Friday, September 24, 2010
You have received this ESPN.com mail from:
Lillian@ExitRealtyHuntingtonBeach.com
The "Dorson: Surfing dogs have their day in the sun" story is located at http://ping.fm/xllkv
I thought you might enjoy this story from ESPN.com.
ESPN SportsFlash - Customized Headlines and Scores sent daily.
ESPN.com's daily headlines can be delivered to you each day by subscribing to SportsFlash today.
http://ping.fm/yCMyL
Lillian@ExitRealtyHuntingtonBeach.com
The "Dorson: Surfing dogs have their day in the sun" story is located at http://ping.fm/xllkv
I thought you might enjoy this story from ESPN.com.
ESPN SportsFlash - Customized Headlines and Scores sent daily.
ESPN.com's daily headlines can be delivered to you each day by subscribing to SportsFlash today.
http://ping.fm/yCMyL
If you think Californian's have the corner on the market for "Funky" Architecture, you'll bubble over when you see this http://bit.ly/avZPaF
FANNIE AND FREDDIE HAVE ANOTHER 1.5 million loans going into foreclosure for details go to http://bit.ly/ayfzCw
Sunday, September 19, 2010
This is our family's 10th year participating in the Light the Night Walk
http://wþww.lightthenight.org/ocie/
There is lot's of fun festival like games and food and best of all the proceeds all go to benefit the Leukemia & Lymphoma Society. Hope to see you!
Sent on the Now Network� from my Sprint® BlackBerry
http://wþww.lightthenight.org/ocie/
There is lot's of fun festival like games and food and best of all the proceeds all go to benefit the Leukemia & Lymphoma Society. Hope to see you!
Sent on the Now Network� from my Sprint® BlackBerry
Friday, September 17, 2010
A local friend just sent me this great deal, Victoria says "
Now let me tell you about a fairly new service here in HB...it will be useful for you if you use propane tanks in your home or business,,, you know for that outdoor heater or BBQ: HB Propane ( www.HBPropane.com ) has a service that will come to you! I used them for the first time earlier this week, and what a great service they have. Instead of dragging those empty tanks to a place to fill, they come to you. Free!  For $14.99 (plus tax per tank) they will come to your place, take away the empty tank/tanks and leave full ones. You are paying pretty much the same price (possibly less) as taking them somewhere to fill or switch out. Visit their website or give them a call: 714-375-5701 / 24 hour: 714-709-3073."
Sent on the Now Network� from my Sprint® BlackBerry
Now let me tell you about a fairly new service here in HB...it will be useful for you if you use propane tanks in your home or business,,, you know for that outdoor heater or BBQ: HB Propane ( www.HBPropane.com ) has a service that will come to you! I used them for the first time earlier this week, and what a great service they have. Instead of dragging those empty tanks to a place to fill, they come to you. Free!  For $14.99 (plus tax per tank) they will come to your place, take away the empty tank/tanks and leave full ones. You are paying pretty much the same price (possibly less) as taking them somewhere to fill or switch out. Visit their website or give them a call: 714-375-5701 / 24 hour: 714-709-3073."
Sent on the Now Network� from my Sprint® BlackBerry
Thursday, September 16, 2010
Tuesday, September 14, 2010
Hello Friend
This article was sent to you by someone who found it on Qondio.
The original article can be found on Qondio here:
http://ping.fm/gYC5N
This article was sent to you by someone who found it on Qondio.
The original article can be found on Qondio here:
http://ping.fm/gYC5N
Saturday, September 11, 2010
Friday, September 10, 2010
There has been a one thousand increase in Bed Bugs in SoCal and they are also found in Movie Theatre seats and can live up to a year with out food per news reports. Good news is they do not carry disease. http://ping.fm/Sp9l2
Thursday, September 9, 2010
Wednesday, September 8, 2010
Tuesday, September 7, 2010
Steve Morris Founder of Exit Realty said this should be posted in every school and I agree
http://ping.fm/dYuBR
http://ping.fm/dYuBR
Monday, September 6, 2010
If you sign up for my enewsletter I'll send you Top Secret Expose' on the credit bureaus http://ping.fm/V37EZ
Sunday, September 5, 2010
Saturday, September 4, 2010
Friday, September 3, 2010
REALTOR ALLERT Do your trainers provide leads,coach on the phones while you set FSBO appointments? Our trainers do 714 865-5626
http://ping.fm/imzRj
http://ping.fm/imzRj
Thursday, September 2, 2010
http://www.ovsd.org/
Did you know OVSD serves over 10,000 children grades K-12!In the present, Children are our future.....
Did you know OVSD serves over 10,000 children grades K-12!In the present, Children are our future.....
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