Practice Case 3: Cash-Out Refinance with Retained HELOC

Get practice using Desktop Originator/Desktop Underwriter (DO/DU) to evaluate an 80% LTV mortgage for borrowers refinancing their first mortgage and resubordinating an existing Home Equity Line of Credit (HELOC).

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Case Study Highlights

  • Entering a resubordinated HELOC
  • Adding liabilities that do not appear on the credit report
  • Matching mortgages to Real Estate Owned (REO)
  • 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 gives you unlimited hands-on experience with the underwriting process. The cases represent different common types of loan 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