- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Conventional Mortgage
Posted on 7/9/20 at 6:16 pm
Posted on 7/9/20 at 6:16 pm
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.
5
Posted on 7/9/20 at 6:17 pm to Catchfalaya
Was Catchafalaya taken?
Posted on 7/9/20 at 6:23 pm to OysterPoBoy
I’m confused
Posted on 7/9/20 at 6:23 pm to Catchfalaya
You even auto payment baw?
Posted on 7/9/20 at 6:24 pm to Catchfalaya
Money board will help you out
Posted on 7/9/20 at 6:26 pm to Catchfalaya
That is correct...they may be able to do it as a manual underwrite though. Could be a rate hit though.
Posted on 7/9/20 at 6:48 pm to Lsukj
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?
Posted on 7/9/20 at 7:44 pm to Catchfalaya
It will approve
Your lender is a rookie
Your lender is a rookie
Posted on 7/9/20 at 8:06 pm to Catchfalaya
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
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
Posted on 7/11/20 at 8:54 am to Catchfalaya
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
Posted on 7/16/20 at 7:50 pm to Lsukj
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?
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News