Asked by Omarcus77, 55111 • Tue Oct 26, 2010
According to the loan application; the borrower earned $6,950 per month. Using a search of Indeed.com, the median salary for a Crisis Intervention Supervisor in Jonesville, Florida is $29,000. At 110%, the monthly salary would be $2,658.33. Therefore the borrower fails the reasonableness test. Using the decreased salary, the DTI would be 107.56%, therefore the borrower fails materiality. We reverified income by contacting Human Resources on 04/27/2010, and Jane Doe provided a written VOE indicating the salary for the borrower in 2007 was $41,715, which equates to $3,476.25 monthly. According to TWN, borrower is no longer employed as of 12/2007. The reverified income increased the borrowers DTI to 82.25% which exceeds guidelines.
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