With all the scary press that the mortgage industry has received over the past three years it is no wonder that lenders have been wary of loosening guidelines. Up until recently it was extremely difficult to find FHA financing if your middle credit score was below a 640 and if you didn’t have 20% to [...]

One of the latest “unwritten” guidelines to hit the underwriting pipeline involves the documenting of a donor’s assets prior to giving a gift to a borrower.  Up until recently, the standard gift documentation involved a few simple items: Signed Gift letter from all parties (Donor and Recipient) Verification of Deposit, Bank statement or Teller statement [...]