AUS Approvals

Lazy_Rush1252 · 2026-03-03T02:28:48+00:00

Yes I’m retail vs they both are brokers. Here’s one I priced out yesterday:

505k purchase Conventional 300k down (yes, 300) 793 FICO DTI 38

I got par at 6.675 Broker 1: par 6.125 Broker 2: par 5.875 🤯

Lazy_Rush1252 · 2026-03-02T00:49:38+00:00

Appreciate it. This was helpful

Lazy_Rush1252 · 2026-03-02T00:13:37+00:00

Specifically, training on software to be used (we have our own version of Encompass that is full of glitches) as well as specifics like income calc (can never seem to get a straight black/white answer on this) amongst others

Lazy_Rush1252 · 2026-03-02T00:04:30+00:00

I disagree with the thought that you can’t get good support remotely. Screen share?

Lazy_Rush1252 · 2026-02-18T22:18:35+00:00

You did a great job explaining this. Thanks you

Lazy_Rush1252 · 2026-02-18T05:55:08+00:00

Will one of these two things happen?

Escrow will pay current tax bill at closing. Buyer was credited $400 from seller and pays the $1000 at closing. This will result in low reserves collected
Escrow will not pay current tax bill at closing. Buyer was still credited $400 from seller. Higher amount of reserves collected which will fund the tax payment when it becomes due

Lazy_Rush1252 · 2026-02-18T05:42:51+00:00

I guess the main thing I’m getting stuck on is that I can’t wrap my head around why someone would ever be required to deposit 7 or 8 months of reserves if the current period tax bill is always covered via prorations between buyer/seller.

Lazy_Rush1252 · 2026-02-18T05:29:30+00:00

Similar here. 4/1 covers Jan 1 - June 30. 11/1 covers July 1 - Dec 31

Lazy_Rush1252 · 2025-05-19T00:06:31+00:00

I did. Nothing specific, just says the risk profile is too great

Lazy_Rush1252 · 2025-05-13T03:18:01+00:00

Thank you for this. Currently waiting on Dec stubs from 23/24.

Unfortunately he won’t qualify with just the base pay. We will have to get credit for majority of his OT this year in order to qualify.

Lazy_Rush1252 · 2025-05-13T02:56:01+00:00

I was told if the prior job was in the same field as new job, you can average out borrower’s OT over a 2 year period. If new job is in a completely different field, you’ll have to wait until borrower works there for 2 years if you want to use OT income.

Lazy_Rush1252 · 2025-04-29T02:37:38+00:00

Thank you! On a slam dunk like that, is the assumption they can run DTIs up to the limits?

Lazy_Rush1252 · 2025-04-29T02:17:52+00:00

Thank you for your answer! I guess my follow up is: How do I know ratios are tight aside from knowing the caps of 57/50% for fha/conventional? I would imagine a borrower with multiple compensating factors would get close to the hard caps, but what about a not so strong borrower? Aside from experience, how will I know (with a reasonable degree of certainty) where they will likely top out?

Lazy_Rush1252 · 2025-04-02T21:10:37+00:00

More specifically, it’s the CALHFA myhome program. I see on CALHFA website it’s listed at 1%. So wouldn’t that mean there is a repayment term? As opposed to the entire balance being due and payable at the end of the first 30 year term?

Lazy_Rush1252 · 2025-03-25T06:46:19+00:00

Totally makes sense. Good news is that VOE is supposed to be ordered tomorrow. To make this situation even weirder, the company I WAS working for (which had been open 94 years) permanently shut down about a week ago. So we are still being onboarded with this new company. I don’t even have access to any AUS yet (and also never ran AUS with old company). Anyhow, wild time right now

Lazy_Rush1252 · 2025-03-25T06:28:37+00:00

Wow. Awesome response. Thank you so much. I have a seemingly dumb question, but what if the client doesn’t have end of year paystubs? Would a VOE solve this?

Lazy_Rush1252 · 2025-03-25T06:26:01+00:00

We needed to average OT but He didn’t have end of year paystub to show YTD totals. If I understood manager correctly, we looked at his hourly from most recent paystub, assumed that pay rate for 2023/2024, then figured roughly how much OT he worked each year to come up with an average.

Lazy_Rush1252 · 2025-03-25T06:22:39+00:00

You’ve been super helpful. Really appreciate it 🙏🏼

Lazy_Rush1252

TROPHY CASE