Underwriting for seller finance transactions
Dodd-Frank Compliance
Dodd-Frank Compliance
Allow our experienced processing and underwriting team ensure Frank-Dodd compliance.
Our Underwriting Package Includes:
- A full underwrite
- A QM Test & Results
- A Signed Compliance File
Underwrite - $650
($200 Processing Fee & $450 at Loan Approval)
Re-Work File - $200 at re-submission
Processing fee is non refundable. $200 Covers 2 borrowers. Maximum of 4 borrowers per loan application.
Do you have 2 years of verifiable income?
Have you made all of your last 12 housing/rent payments on time & do you give consent for verification?
A credit check is required. Do you have any outstanding liens, judgements, or collections? (bankruptcy, forbearance, foreclosure, etc.)
Please be sure to ask these pre-qualification questions at minimum. You want to assure you have a qualified buyer so our time and your money is used efficiently. We appreciate your business. Feel free to email us with pre-qualification questions.
Please reach us at support@underwrite4me.com if you cannot find an answer to your question.
If the buyer does not meet the ability to repay, we may suggest they bring in a co-borrower or make other suggestions to strengthen the ability to repay. You may re-submit the loan on a case-by-case basis for an additional $200 re-work/processing fee. If this is not possible, the remaining fee ($450) would NOT be due.
Loan conditions are additional pieces of documentation requested by Underwrite4me to ensure the borrower has the ability to repay. Please provide documentation to clear conditions and receive a final approval as soon as possible to prevent delays in your transaction.
The initial underwriting decision takes 5-8 business days assuming we have all of the docs requested in the submission package. If there are loan conditions, please allow 72 hours for processing and a final loan approval compliance package.
Your borrower will be emailed application instructions once your submission has been verified as complete. Please allow 24 business hours. If your borrower hasn't received their application email, please have them check their spam folder.
You are allowed up to 4 borrowers on your loan application. All borrower's planning to be on the loan need to disclosed at initial submission. If you add a borrower during the underwriting process, or due to a suspense(denial) notice, there will be a $200 re-work fee.
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