Practice Case 3: Refinance of Second Home

Get practice using Desktop Originator/Desktop Underwriter (DO/DU) to evaluate an 80% LTV mortgage for borrowers refinancing their second home.

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Case Study Highlights

  • Entering housing expenses for second homes
  • Entering a resubordinated HELOC
  • Adding liabilities that do not appear on the credit report
  • Paying off an existing first mortgage while resubordinating an outstanding HELOC

Complexity: Complex

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Using Practice Cases

  • Introduction to Practice Cases

    Our practice cases give you unlimited hands-on experience with the underwriting process. The cases represent different common types of loans and provide data for one or more borrowers. The expected underwriting recommendation for each practice case varies (based on the latest version of DU).

Practice Cases