Pre-Endorsement Research Paper

Edward Alexander a Harvard graduate is looking to invest in a small income producing apartment building in the Back Bay-Beacon Hill area of Boston, Mass. He currently has $80,000 dollars saved up to purchase this property. He began his search for the perfect property checking current listings and prices using, www.bankrate.com and www.realestate.boston.com. Due to many of his friends living in the area he gained access to eNeighborhoods a program that allowed him to enter addresses and it would show the previous 25 properties sold. Most properties observed sold for $700,000 and higher and required an initial equity investment of $150,000. Since he only has $80,000 in equity he plans to

We often come across applications that don’t look well put together, and some applications just look too squeaky clean. If there aren’t any false we assume there is a lot of false information in that application. As a loan officer you have to make decisions that are reasonable. Making decisions means weighing information and coming to some conclusion that we feel will maximize our outcome (King 2014). A good loan officer shouldn’t just process a loan for the money. We expect to see files that seem reasonable and would help Gateway Group gain a good reputation. There are two types of loan officers, ones who are greedy for money and will take any file without doing research or a loan officer that prefers to do a file the right way without pulling any stings. A business profession should want to be known for having successful and stress-free closings. Anthony takes the time to analyze and help his borrowers complete a pre-approval process. Justin just takes information over the phone and tell applicants that they are pre-approved without submitting an application to underwriting.

It is very important that you inspect your home before you begin selling it. Make sure that

One of the more frustrating, but necessary elements of representing a seller or buyer of a house is getting through a home inspection. In order to better deal with this ordeal we must first look at why it is so important and then look at the best way to educate the parties as to what to expect. In order to avoid any problems during the process it is best for the parties to be forth right and make sure it is clear to all the parties as to what their obligations are.

Asymmetric information in lending is a huge risk. When there is misinformation from a lender to a borrower, this can cause a few different problems to arise; for example misinformation about job security or credit history from a borrower to a lender can result in late or missed payments, fraudulent spending of the money lent or the lending amount to be turned as bad debt. Specialization is a tool used for risk management. Specialization in lending helps reduce risk by gathering valuable and accurate information about the borrower. It

For first-time homebuyers, hiring an experienced home inspector is a wise decision that will enable you to know the condition of the property you are about to purchase. The inspector will check the condition of the roofs, walls, floor, and furniture.

They keep the needs of the borrower in their mind at all times, rather than focusing on their own profits, and they take into account the nature of the purchase. Is the home worth the money being borrowed? If not, Mike and Brian will explain this to the client and clearly show why this is the case.

If you are a first time homebuyer and you have no idea if you are a good candidate for a mortgage, take the steps to get pre-qualified by a mortgage lender, and then get pre-approved. There is a difference between getting prequalified and pre-approved, and by getting pre-qualified you can determine if pursuing a mortgage will be worth your efforts. For the pre-qualification process, you will be asked a variety of questions about your income, debt, credit score and rating, and other information. This allows the mortgage lender to get enough information to decide if you could be a potential candidate, and what you could afford.

In the article “Debunking Myths About Estrangement”, the author talks about how estrangement is affected into some families and how they respond towards it. They also talk about the myths towards estrangement and how he/she uses tests and examples to prove whether these myths are true or false. In the myth, “Estrangement Happens Suddenly”, the author states, “Estrangement is a “continual process,” Dr. Scharp said. “In our culture, there’s a ton of guilt around not forgiving your family,” she explained. So “achieving distance is hard, but maintaining distance is harder.” The author is stating that it is difficult to hate one's family for a long time and not forgive them.

As with any business, the savviest professionals are those who are truly educated in their field, and in the case of sales, their products. Not only did banks offer exotic loans that were generally not sagacious for most Americans, but individual salespeople didn’t necessarily understand their products (let alone buyers) which made for a risky combination that led to the current crisis. People signed on the dotted line without understanding what they were committing to, and those employed to guide them through the process were no more versed in the products themselves. Enforcing more stringent certification requirements for individual loan officers would help salespeople to better understand their products, making them more capable of guiding clients into the best fit loans.

Many consumers who are looking to purchase a home again with the recovery of the housing market may not have the ideal financial background to get started. In order to discover whether or not they qualify, these potential borrowers should first consult with a mortgage professional, such as a

The process of pre-qualification involves the lender receiving information about your ability to afford a home, and involves a credit report review. Some examples of the required information include job employment, annual income, and the down payment, for example. The pre-qualification process is subject to the submission of W2s, tax records, proof of employment, financial asset statements and other documentation.

It is very difficult to get a loan from a commercial bank for first-time homebuyers, and for existing homeowners who are in the process of foreclosure. The loan modification programs that are available now are bandages for a much bigger problem, the problem lies in the underlying banking system practices, polices and traditional way of doing business.

The real estate appraisal process is a process that affects nearly everyone who lives in a home. Most people do not have the funding to purchase a home outright and must rely on financing to purchase their homes. Banks require that a real estate appraisal be conducted to determine what the market value of a property is so they know how much the property is worth as collateral for the loan. Therefore the appraisal serves as the basis for factors such as determining a fair market price, how much collateral a property can offer a lender, or in some cases even how much a property should be able to earn in income in a "best use" scenario. This report will outline the basic steps of evaluating the value of property as well as discuss some of the considerations surrounding the appraisal process in general.

No one really realizes the time and patience it takes to get a first time home buyers loan. The first and most critical step in homeownership is getting the right mindset. This principally involves