Unlocking Loan Solutions with Radian

This episode is a part of Unlocking Loan Solutions with Radian, a micro-learning series for mortgage & real estate professionals, with video, audio, and job aid for each topic. Choose your preferred learning style and take your learning experience to a new level.Watch the VideoDownload the Job AidAll episodesIn this episode, we explore the topic of Restricted Stock Unit (RSU) income and how it may be used towards mortgage qualification. We delve into the definitions, guidelines, and calculation methods used by Fannie Mae and Freddie Mac for this increasingly common form of compensation. We discuss:What are Restricted Stock Units (RSUs) and how do they work?Fannie Mae and Freddie Mac guidelines for using RSU income in mortgage qualificationDifferences between performance-based and time-based RSU vestingDocumentation requirements for RSU income verificationA scenario demonstrating RSU income calculations under different guidelinesResourcesFannie Mae Selling Guide - B3-3.1-09, Other Sources of Income - Restricted Stock Units and Restricted Stock Employment IncomeFannie Mae Selling Guide - B3-3.1-01, General Income Information - Continuity of IncomeFreddie Mac Seller/Servicer Guide - 5303.1, Employed incomeStockopedia - 200 day Moving AverageSign up for Radian National Training Updates© 2024 Radian Group Inc. All Rights Reserved. 550 East Swedesford Road, Suite 350, Wayne, PA 19087. "Radian" is a brand of Radian Group Inc., including its licensed insurance affiliates. Mortgage insurance is provided and underwritten by Radian Guaranty Inc., a wholly owned subsidiary of Radian Group Inc. with home offices at 550 East Swedesford Road, Suite 350, Wayne, PA 19087. Radian Guaranty Inc. is a monoline mortgage insurance company licensed to write business in all 50 states, the District of Columbia and Guam. Radian Group Inc. and its subsidiaries and affiliates make no express or implied warranty respecting the information presented and assume no responsibility for errors or omissions. Redistribution or reproduction of all or part of the contents without Radian’s prior written consent is expressly prohibited. Scenarios provided for illustrative purposes only do not constitute a commitment or the guarantee of a specified rate. Determination of eligibility for a particular program or exemption is made by the relevant authority and not by Radian Group Inc. or its subsidiaries and/or affiliates.

This episode is a part of Unlocking Loan Solutions with Radian, a micro-learning series for mortgage & real estate professionals, with video, audio, and job aid for each topic. Choose your preferred learning style and take your learning experience to a new level.Watch the VideoDownload the Job AidAll episodesIn this episode, we delve into the complex and often misunderstood topic of non-traditional credit history in mortgage loan underwriting. Non-traditional credit history refers to alternative forms of credit that can be used when traditional accounts like student loans, mortgages, credit cards, or automobile loans are not present. We will explore:What is a non-traditional credit history?Fannie Mae’s Eligibility Requirements for non-traditional creditUnderwriting non-traditional creditScenarios to understand the application of non-traditional credit in mortgage loan underwritingResourcesFannie Mae Selling GuideSection B3-5.4, Nontraditional Credit HistoryB3-5.4-01, Eligibility Requirements for Loans with Nontraditional CreditB3-5.4-02, Number and Types of Nontraditional Credit ReferencesB3-5.4-03, Documentation and Assessment of a Nontraditional Credit History B3-2-03, Risk Factors Evaluated by DUB2-2-04, Guarantors, Co-Signers, or Non-Occupant Borrowers on the Subject TransactionB2-2-06, Homeownership Education and Housing CounselingFreddie Mac Seller/Servicer Guide5201.1 Credit assessment with Loan Product Advisor®Sign up for Radian National Training Updates© 2024 Radian Group Inc. All Rights Reserved. 550 East Swedesford Road, Suite 350, Wayne, PA 19087. "Radian" is a brand of Radian Group Inc., including its licensed insurance affiliates. Mortgage insurance is provided and underwritten by Radian Guaranty Inc., a wholly owned subsidiary of Radian Group Inc. with home offices at 550 East Swedesford Road, Suite 350, Wayne, PA 19087. Radian Guaranty Inc. is a monoline mortgage insurance company licensed to write business in all 50 states, the District of Columbia and Guam. Radian Group Inc. and its subsidiaries and affiliates make no express or implied warranty respecting the information presented and assume no responsibility for errors or omissions. Redistribution or reproductio

This episode is a part of Unlocking Loan Solutions with Radian, a micro-learning series for mortgage & real estate professionals, with video, audio, and job aid for each topic. Choose your preferred learning style and take your learning experience to a new level.Watch the VideoDownload the Job AidAll episodesJoin us in this episode as we delve into the topic of Foster Care Income. We'll explore how the GSEs, Fannie Mae and Freddie Mac, treat this income type, discuss guidelines around the history of income receipt, and review general documentation requirements. We'll also provide a couple of scenarios to aid your understanding of the use of this income.In this episode we will discuss:What is Foster Care Income and how it is treated by the GSEsGuidelines around the history of receiptGeneral documentation requirementsScenarios to better understand the use of Foster Care IncomeResourcesFannie Mae Selling Guide: B3-3.1-01, General Income InformationFannie Mae Selling Guide: B3-3.1-09, Other Sources of IncomeFreddie Mac Seller/Servicer Guide: 5301.1, General requirements for all stable monthly incomeFreddie Mac Seller/Servicer Guide: 5305.1, Requirements for all other income (non-employment/non-self-employment)Sign up for Radian National Training Updates

This episode is a part of Unlocking Loan Solutions with Radian, a micro-learning series for mortgage & real estate professionals, with video, audio, and job aid for each topic. Choose your preferred learning style and take your learning experience to a new level.Watch the VideoDownload the Job AidAll episodesIn this episode, we explore the concept of parsonage income, also known as a housing allowance, and its impact on a mortgage loan application. We will discuss:What is parsonage income and where it might come fromPotential benefits of parsonage incomeHow the GSEs treat this type of incomeDocumentation requirements for parsonage incomeExample scenarios to help better understand the use of parsonage income in a loan fileResourcesFannie Mae Selling Guide B3-3.1-01, General Income Information - Using Nontaxable Income to Adjust the Borrower’s Gross Income Fannie Mae Selling Guide B3-3.1-09, Other Sources of Income- Housing or Parsonage AllowanceFreddie Mac Selling Guide 5305.2, Specific requirements for other income types Freddie Mac Selling Guide 9202.3, Borrower income documentation for workout or relief optionsExplore more complex income types, including non-taxable sources, social security income, child support and alimony.Foundations On Demand Course: Not Your Ordinary Income Not Your Ordinary Income: Social Security BenefitsNot Your Ordinary Income: Military PaySign up for Radian National Training Updates

This episode is a part of Unlocking Loan Solutions with Radian, a micro-learning series for mortgage & real estate professionals, with video, audio, and job aid for each topic. Choose your preferred learning style and take your learning experience to a new level.Watch the VideoDownload the Job AidAll episodesAcronym ListIn this episode, we explore the subject of non-occupant borrowers in mortgage transactions. We'll discuss what GSE guidelines consider when reviewing a loan with a non-occupant borrower, and how a non-occupant borrower may impact the loan decision.What a non-occupant borrower is and why they may be included in a loan scenarioThe GSE guidelines for non-occupant borrowersHow to verify a non-occupant borrower's eligibilityReal-world scenarios involving non-occupant borrowersResourcesFannie Mae Selling Guide B2-2-04, Guarantors, Co-Signers, or Non-Occupant Borrowers on the Subject TransactionFannie Mae Non-Occupant Borrower Fact SheetFreddie Mac Selling Guide 5103.1, Mortgages including a non-occupyingBorrowerSign up for Radian National Training Updates© 2023 Radian Group Inc. All Rights Reserved. 550 East Swedesford Road, Suite 350, Wayne, PA 19087. "Radian" is a brand of Radian Group Inc., including its licensed insurance affiliates. Mortgage insurance is provided and underwritten by Radian Guaranty Inc., a wholly owned subsidiary of Radian Group Inc. with home offices at 550 East Swedesford Road, Suite 350, Wayne, PA 19087. Radian Guaranty Inc. is a monoline mortgage insurance company licensed to write business in all 50 states, the District of Columbia and Guam. Radian Group Inc. and its subsidiaries and affiliates make no express or implied warranty respecting the information presented and assume no responsibility for errors or omissions. Redistribution or reproduction of all or part of the contents without Radian’s prior written consent is expressly prohibited. Scenarios provided for illustrative purposes only do not constitute a commitment or the guarantee of a specified rate. Determination of eligibility for a particular program or exemption is made by the relevant authority and not by Radian Group Inc. or its subsidiaries and/or affiliates.

This episode is a part of Unlocking Loan Solutions with Radian, a micro-learning series for mortgage & real estate professionals, with video, audio, and job aid for each topic. Choose your preferred learning style and take your learning experience to a new level.Watch the VideoDownload the Job AidAll episodesIn this episode, we explore the concept of payment shock, its impact on loan reviews, and how it can be mitigated. We discuss:Understanding payment shock in mortgage transactionsGSEs' guidelines on payment shockReal-life scenarios illustrating payment shockStrategies to mitigate payment shockImportance of borrower education and suitable mortgage products in managing payment shockResourcesFannie Mae Selling Guide B2-1.4-02, Adjustable-Rate Mortgages (ARMs)Fannie Mae Selling Guide B3-6-04, Qualifying Payment RequirementsCFPB: Ability-to-Repay/Qualified Mortgage RuleRadian GuidelinesSign up for Radian National Training Updates© 2023 Radian Group Inc. All Rights Reserved. 550 East Swedesford Road, Suite 350, Wayne, PA 19087. "Radian" is a brand of Radian Group Inc., including its licensed insurance affiliates. Mortgage insurance is provided and underwritten by Radian Guaranty Inc., a wholly owned subsidiary of Radian Group Inc. with home offices at 550 East Swedesford Road, Suite 350, Wayne, PA 19087. Radian Guaranty Inc. is a monoline mortgage insurance company licensed to write business in all 50 states, the District of Columbia and Guam. Radian Group Inc. and its subsidiaries and affiliates make no express or implied warranty respecting the information presented and assume no responsibility for errors or omissions. Redistribution or reproduction of all or part of the contents without Radian’s prior written consent is expressly prohibited. Scenarios provided for illustrative purposes only do not constitute a commitment or the guarantee of a specified rate. Determination of eligibility for a particular program or exemption is made by the relevant authority and not by Radian Group Inc. or its subsidiaries and/or affiliates.

This episode is a part of Unlocking Loan Solutions with Radian, a micro-learning series for mortgage & real estate professionals, with video, audio, and job aid for each topic. Choose your preferred learning style and take your learning experience to a new level.Watch the VideoDownload the Job AidAll episodesIn this episode, we explore the intriguing topic of unique properties in the context of mortgage loans. We will review:Examples of unique propertiesHow GSEs view unique propertiesThe impact of unique properties on loan submissionsThe importance of proper appraisal and supporting data for unique propertiesResourcesFannie Mae: Appraisal and Property-Related Frequently Asked Questions (Question 27)Fannie Mae Selling Guide B4-1.3-05, Improvements Section of the Appraisal Report - Unique Housing TypesFannie Mae Selling Guide Announcement (SEL-2023-08): 3D printed homesFreddie Mac Seller/Servicer Guide 5605.5 Improvements analysisFreddie Mac Appraisal Report and Property Eligibility FAQRadian's guidelinesSign up for Radian National Training Updates© 2023 Radian Group Inc. All Rights Reserved. 550 East Swedesford Road, Suite 350, Wayne, PA 19087. "Radian" is a brand of Radian Group Inc., including its licensed insurance affiliates. Mortgage insurance is provided and underwritten by Radian Guaranty Inc., a wholly owned subsidiary of Radian Group Inc. with home offices at 550 East Swedesford Road, Suite 350, Wayne, PA 19087. Radian Guaranty Inc. is a monoline mortgage insurance company licensed to write business in all 50 states, the District of Columbia and Guam. Radian Group Inc. and its subsidiaries and affiliates make no express or implied warranty respecting the information presented and assume no responsibility for errors or omissions. Redistribution or reproduction of all or part of the contents without Radian’s prior written consent is expressly prohibited. Scenarios provided for illustrative purposes only do not constitute a commitment or the guarantee of a specified rate. Determination of eligibility for a particular program or exemption is made by the relevant authority and not by Radian Group Inc. or its subsidiaries and/or affiliates.

This episode is a part of Unlocking Loan Solutions with Radian, a micro-learning series for mortgage & real estate professionals, with video, audio, and job aid for each topic. Choose your preferred learning style and take your learning experience to a new level.Watch the VideoDownload the Job AidAll episodesIn this episode, we delve into non-US citizen borrowers. We'll discuss the different types of citizenship and residency, what may be required by the GSEs, and how different scenarios may be viewed by GSEs.What a non-US citizen and non-US citizen borrower isWhat may be required for verificationDifferent types of citizenship and residencyAnd how the GSEs may view different scenariosResources:Fannie Mae Selling Guide: B2-2-02, Non–U.S. Citizen Borrower Eligibility RequirementsFreddie Mac Selling Guide: 5103.2 Permanent and nonpermanent resident aliensIRS Resident and Nonresident Alien Information US Department of State Visa CategoriesSign up for Radian National Training Updates© 2023 Radian Group Inc. All Rights Reserved. 550 East Swedesford Road, Suite 350, Wayne, PA 19087. "Radian" is a brand of Radian Group Inc., including its licensed insurance affiliates. Mortgage insurance is provided and underwritten by Radian Guaranty Inc., a wholly owned subsidiary of Radian Group Inc. with home offices at 550 East Swedesford Road, Suite 350, Wayne, PA 19087. Radian Guaranty Inc. is a monoline mortgage insurance company licensed to write business in all 50 states, the District of Columbia and Guam. Radian Group Inc. and its subsidiaries and affiliates make no express or implied warranty respecting the information presented and assume no responsibility for errors or omissions. Redistribution or reproduction of all or part of the contents without Radian’s prior written consent is expressly prohibited. Scenarios provided for illustrative purposes only do not constitute a commitment or the guarantee of a specified rate. Determination of eligibility for a particular program or exemption is made by the relevant authority and not by Radian Group Inc. or its subsidiaries and/or affiliates.

This episode is a part of Unlocking Loan Solutions with Radian, a micro-learning series for mortgage & real estate professionals, with video, audio, and job aid for each topic. Choose your preferred learning style and take your learning experience to a new level.Watch the VideoDownload the Job AidAll episodesThis discussion will focus on a common theme we see coming to Radian Guaranty’s Customer Help & Sales teams, as well as in our live webinars: Trust Income. In this lesson we will discuss:The common Trust Income types you might see in loan filesThe different types of trust income that may be used to qualify for a mortgageHow trust income may be used in mortgage transactionsDocumentation used to verify trust incomeResources:Fannie Mae Selling Guide: B3-3.1-09, Other Sources of IncomeFreddie Mac Selling Guide: 5305.2 Specific requirements for other income typesSign up for Radian National Training Updates© 2023 Radian Group Inc. All Rights Reserved. 550 East Swedesford Road, Suite 350, Wayne, PA 19087. "Radian" is a brand of Radian Group Inc., including its licensed insurance affiliates. Mortgage insurance is provided and underwritten by Radian Guaranty Inc., a wholly owned subsidiary of Radian Group Inc. with home offices at 550 East Swedesford Road, Suite 350, Wayne, PA 19087. Radian Guaranty Inc. is a monoline mortgage insurance company licensed to write business in all 50 states, the District of Columbia and Guam. Radian Group Inc. and its subsidiaries and affiliates make no express or implied warranty respecting the information presented and assume no responsibility for errors or omissions. Redistribution or reproduction of all or part of the contents without Radian’s prior written consent is expressly prohibited. Scenarios provided for illustrative purposes only do not constitute a commitment or the guarantee of a specified rate. Determination of eligibility for a particular program or exemption is made by the relevant authority and not by Radian Group Inc. or its subsidiaries and/or affiliates.

This episode is a part of Unlocking Loan Solutions with Radian, a micro-learning series for mortgage & real estate professionals, with video, audio, and job aid for each topic. Choose your preferred learning style and take your learning experience to a new level.Watch the VideoDownload the Job AidAll episodesIn this episode, we delve into the intriguing topic of foreign income in mortgage transactions. We shed light on its definition, importance, and how it's addressed under the guidelines set by Government Sponsored Enterprises (GSEs) like Fannie Mae and Freddie Mac.What is foreign income in mortgage transactions?Recognizing foreign income on tax returnsFannie Mae and Freddie Mac's foreign income requirementsForeign income considerations for self-employed borrowersLanguage translation and currency conversionResources:Fannie Mae Selling Guide: B3-3.1-09, Other Sources of IncomeFreddie Mac Seller/Servicer Guide: 5305.1, Requirements for all other income (non-employment/non-self-employment)Google Currency ConverterOanda Currency ConverterSign up for Radian National Training Updates© 2023 Radian Group Inc. All Rights Reserved. 550 East Swedesford Road, Suite 350, Wayne, PA 19087. "Radian" is a brand of Radian Group Inc., including its licensed insurance affiliates. Mortgage insurance is provided and underwritten by Radian Guaranty Inc., a wholly owned subsidiary of Radian Group Inc. with home offices at 550 East Swedesford Road, Suite 350, Wayne, PA 19087. Radian Guaranty Inc. is a monoline mortgage insurance company licensed to write business in all 50 states, the District of Columbia and Guam. Radian Group Inc. and its subsidiaries and affiliates make no express or implied warranty respecting the information presented and assume no responsibility for errors or omissions. Redistribution or reproduction of all or part of the contents without Radian’s prior written consent is expressly prohibited. Scenarios provided for illustrative purposes only do not constitute a commitment or the guarantee of a specified rate. Determination of eligibility for a particular program or exemption is made by the relevant authority and not by Radian Group Inc. or its subsidiaries and/or affiliates.

This episode is a part of Unlocking Loan Solutions with Radian, a micro-learning series for mortgage & real estate professionals, with video, audio, and job aid for each topic. Choose your preferred learning style and take your learning experience to a new level.Watch the VideoDownload the Job AidAll episodesIn this episode, we explore the intricacies of business automobile mileage deductions as defined by the IRS and how these deductions impact the qualifying income calculations of a Schedule C Sole Proprietor Self-Employed borrower:What are business mileage deductions?Impact of vehicle depreciation on effective incomeKey factors affecting allowable depreciationInfluence of mileage deductions on loan qualificationDocument requirements for loan qualificationResources:Internal Revenue Bulletin: 2023-3Fannie Mae Selling Guide: B3-3.3-03, Income or Loss Reported on IRS Form 1040, Schedule CFreddie Mac Selling Guide: 5304.1, Stable monthly income and documentation requirements for self-employed BorrowersRadian's Self-Employed Cash Flow Analysis CalculatorSign up for Radian National Training Updates© 2023 Radian Group Inc. All Rights Reserved. 550 East Swedesford Road, Suite 350, Wayne, PA 19087. "Radian" is a brand of Radian Group Inc., including its licensed insurance affiliates. Mortgage insurance is provided and underwritten by Radian Guaranty Inc., a wholly owned subsidiary of Radian Group Inc. with home offices at 550 East Swedesford Road, Suite 350, Wayne, PA 19087. Radian Guaranty Inc. is a monoline mortgage insurance company licensed to write business in all 50 states, the District of Columbia and Guam. Radian Group Inc. and its subsidiaries and affiliates make no express or implied warranty respecting the information presented and assume no responsibility for errors or omissions. Redistribution or reproduction of all or part of the contents without Radian’s prior written consent is expressly prohibited. Scenarios provided for illustrative purposes only do not constitute a commitment or the guarantee of a specified rate. Determination of eligibility for a particular program or exemption is made by the relevant authority and not by Radian Group Inc. or its subsidiaries and/or affiliates.

This episode is a part of Unlocking Loan Solutions with Radian, a micro-learning series for mortgage & real estate professionals, with video, audio, and job aid for each topic. Choose your preferred learning style and take your learning experience to a new level.Watch the VideoDownload the Job AidAll episodesJoin us in this episode as we demystify the concept of Interested Party Contributions (IPCs). We examine what IPCs are, the potential interested parties, and how they are defined and regulated by Fannie Mae and Freddie Mac. Additionally, we delve into some real-world scenarios to demonstrate the application of IPCs in mortgage transactions.The relevance of IPCs in mortgage transactionsWho are the potential interested parties in IPCs?Fannie Mae and Freddie Mac’s guidelines on IPCsLimits to IPCs: occupancy type and Loan-to-Value (LTV) ratioReal-world loan scenarios involving IPCsResources: Fannie Mae Selling Guide: B3-4.1-02, Interested Party Contributions (IPCs)Freddie Mac Selling Guide: 5501.6, Interested party contributionsSign up for Radian National Training Updates© 2023 Radian Group Inc. All Rights Reserved. 550 East Swedesford Road, Suite 350, Wayne, PA 19087. "Radian" is a brand of Radian Group Inc., including its licensed insurance affiliates. Mortgage insurance is provided and underwritten by Radian Guaranty Inc., a wholly owned subsidiary of Radian Group Inc. with home offices at 550 East Swedesford Road, Suite 350, Wayne, PA 19087. Radian Guaranty Inc. is a monoline mortgage insurance company licensed to write business in all 50 states, the District of Columbia and Guam. Radian Group Inc. and its subsidiaries and affiliates make no express or implied warranty respecting the information presented and assume no responsibility for errors or omissions. Redistribution or reproduction of all or part of the contents without Radian’s prior written consent is expressly prohibited. Scenarios provided for illustrative purposes only do not constitute a commitment or the guarantee of a specified rate. Determination of eligibility for a particular program or exemption is made by the relevant authority and not by Radian Group Inc. or its subsidiaries and/or affiliates.