Hi, I’m Marc! Your anti-jargon mortgage expert. I look forward to helping you understand this crazy world of home loans.
I began my journey into the mortgage realm began back in 2012 during the HARP refinance frenzy. Starting as a Loan Processor, I quickly learned the importance of efficiency and precision, as the underwriting standards were exceptionally strict. This knowledge was carried along into Loan Origination when I obtained my license in 2014. Fast-forward to 2019, and I decided to become a Mortgage Broker and start my own 3rd Party Processing Company, Top-Shelf Processing. My primary focus is now educating clients on mortgage loans, while providing the highest level of service and expertise.
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A Burden placed on a piece of collateral (property) to ensure that loaned funds are repaid. Once the loan is paid in full, the lien is often released
A Publically Recorded Agreement between a borrower and lender for financing on a purchase or refinance of a property
A review of a borrower's ability to repay a mortgage loan. You either qualify or you don't. No points for extra credit
A Valuation of Real Estate. Full appraisals and Drive-by Apprasials are common versions.
The percentage of the mortgage loan to the value of the home. Lenders MUST qualify loans based upon the LESSOR of purchase price or Appraised Value
A Government Sponsored Entitiy that is the other 1/2 of all Conventional Loan. Provides the Loan Prospector (LP) AUS System.
A Government Sponsored Entitiy that is 1/2 of all conventional loans. Provides the Desktop Underwriter (DU) AUS System
Prior to having a purchase contract signed, the application is reviewed and underwritten to ensure a majority of any issues are caught early.
An estimate of a borrower's ability to qualify for a loan based upon information provided on the loan application
A commitment to lend provided by a lender via their underwriter, once all conditions are met, naturally.
Also known as a final approval. Once conditions are met by a borrower, the loan can move toward the closing and balancing of figures with the title company.
A Borrower's ability to repay debt reflected in a numerical fashion
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