This course covers Actual/Actual loans, the remittance type that applies to most loans sold to Fannie Mae for cash. You will learn how to handle deposits and withdrawals for custodial accounts, initiate P&I remittances to Fannie Mae, track custodial account activity, and perform monthly reconciliations of cashbooks.
Learn about best practices for daily and monthly remitting, reporting, and reconciling activities. After attending this webinar, you will be able to determine that the data you see in your organization's systems accurately correlates with the data you provide to Fannie Mae. Save the date for one of the upcoming sessions.
Learn about MBS loans, where Fannie Mae issues mortgage backed securities in exchange for pools of loans. This MBS basics course includes concepts on pool reporting and how to perform a pool-to-security reconciliation. In addition, you will learn how to, determine the amount and timing of remittances due Fannie Mae, recognize the effect that collection activity other than current payments has on your remittances, track and analyze custodial account activity, and reconcile MBS cashbooks.
Learn the basics of how to evaluate self-employment income. In particular, you will learn Fannie Mae's guidelines for determining whether a borrower is self-employed and analyzing personal and business tax returns. You will also learn the principal business structures, and how to perform a cash flow analysis and comparative income analysis.
Note: Sample calculations are not done in this course.
Learn how to fully leverage the DU Underwriting Findings Report's features, such as Potential Red Flags, Verification Messages, Approval Conditions, and more. Also, look at ways to deal with scenarios that don't seem to fit naturally into standard underwriting approaches. Save the date for one of the upcoming sessions.