Great Community Authority Forums | Mason | Activity

Mason replied to the discussion Why Do Mortgage Lenders Not Want To Approve Homes on Acreage in the forum Underwriting Help Desk

Tue, 27 Feb 2024 17:04:37 +0000

Reply to Why Do Mortgage Lenders Not Want To Approve Homes on Acreage

Hey Julio,

A lot of it boils down to value – Lenders don’t want a bunch of it tied into the land. Additionally, the more acres, the more probability you have for income producing qualities (hobby farms, horse/stables/equestrian characteristics, etc). I’ve gotten away with 25 acres in the past with exceptions (posted guideline max is 15) but…

Mason replied to the discussion Why Do Mortgage Lenders Ask Borrowers For a CPA Letter in the forum Income

Thu, 15 Feb 2024 23:18:18 +0000

Reply to Why Do Mortgage Lenders Ask Borrowers For a CPA Letter

CPA letter isnt always required but is undoubtedly a sure fire solution to clear the requirement. Other items can be provided, ie. Operating Agreement, Articles of Incorporation, etc. Verifying a borrower’s ownership % in their business is also a requirement and often times it has to be assumed with these documents – this is why letter from CPA…

Mason posted an update: Deephaven's standalone 2nd lien product:

Thu, 15 Feb 2024 22:59:36 +0000

Deephaven’s standalone 2nd lien product:

Mason posted a new activity comment

Tue, 13 Feb 2024 15:09:43 +0000

@FORUM GCA Pleasure speaking with you as well! If clients are from a country on the below OFAC list, we would not be able to lend to them.
https://ofac.treasury.gov/sanctions-programs-and-country-information

In reply to - Gustan Cho to Mason @Mason Pleasure speaking with you today Mason. Looking forward to working with you and Deephaven. Does Deephaven work with Puerto Rico and Virgin Islands borrowers

Mason became a registered member

Mon, 12 Feb 2024 21:34:48 +0000