Posted by
Message
Catchfalaya
Member since Feb 2018
451 posts

Conventional Mortgage
Any lenders here have knowledge with AUS underwriting system for conventional approval? I had a 30day late payment on mortgage 14 months ago, and I’m trying to get preapproved for new home. Current lender is telling me that the system may not approve until I go 24months without a late payment.


OysterPoBoy
LSU Fan
City of St. George
Member since Jul 2013
20022 posts
 Online 

re: Conventional Mortgage
Was Catchafalaya taken?


Catchfalaya
Member since Feb 2018
451 posts

re: Conventional Mortgage
I’m confused


Chitown_Badger
Wisconsin Fan
A one drink walk from Wrigley
Member since May 2013
15388 posts

re: Conventional Mortgage
You even auto payment baw?


Replies (0)
Replies (0)
20
LSUJML
LSU Fan
BR
Member since May 2008
23342 posts
 Online 

re: Conventional Mortgage
Money board will help you out


Replies (0)
Replies (0)
20
Lsukj
LSU Fan
Prairieville, LA
Member since Sep 2014
51 posts

re: Conventional Mortgage
That is correct...they may be able to do it as a manual underwrite though. Could be a rate hit though.


TD SponsorTD Fan
USA
Member since 2001
Thank you for supporting our sponsors
Advertisement
Catchfalaya
Member since Feb 2018
451 posts

re: Conventional Mortgage
Do all lenders have different AUS that they can enter a 12 month cycle parameter or a 24 month? Do you have to ask them to do a manual underwrite?


ellesssuuu
Baton Rouge
Member since Mar 2016
1174 posts

re: Conventional Mortgage
You can have one 30 day late in the last 12 months and still have possibility of pre-approved. Call me at 225-229-8971 to chat


Replies (0)
Replies (0)
10
SDVTiger
Hawaii Fan
Cabo San Lucas
Member since Nov 2011
45385 posts

re: Conventional Mortgage
It will approve

Your lender is a rookie


Replies (0)
Replies (0)
00
cgrand
New Orleans Pelicans Fan
HAMMOND
Member since Oct 2009
22524 posts
 Online 

re: Conventional Mortgage
a good lender should be able to push that thru.
back when rates were double digits I had shite credit and always got approved. Honestly I’ve never had great credit and never had an issue on 4 mortgage approvals and many re-fi’s. One late is nothing if you have good income


Replies (0)
Replies (0)
00
Lsukj
LSU Fan
Prairieville, LA
Member since Sep 2014
51 posts

re: Conventional Mortgage
All use same AUS and it reads credit report and late pays. Loan officer and/or underwriter should look into manual option however could hurt to ask them


Catchfalaya
Member since Feb 2018
451 posts

re: Conventional Mortgage
What are the typical Front End Ratios for Conventional and Back end? If your front End is 33% but your back end is 35% would you be approved?


Replies (0)
Replies (0)
00
first pageprev pagePage 1 of 1next pagelast page
refresh

Back to top

logoFollow TigerDroppings for LSU Football News
Follow us on Twitter, Facebook and Instagram to get the latest updates on LSU Football and Recruiting.

FacebookTwitterInstagram