Transcription of Chapter 4 Credit Underwriting Overview
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Chapter 4 Credit Underwriting Overview
Chapter 4 Credit Underwriting Overview In this Chapter This Chapter contains the following topics. Topic Topic Name See Page 1 General Underwriting Information 4-2 2 Income Required Documentation and Analysis 4-7 3 Income Taxes and Other Deductions 4-32 4 Assets and Closing Requirements 4-35 5 Debts and Obligations 4-38 6 Debts Owed to the Federal Government 4-44 7 Credit History Required Documentation and Analysis 4-49 8 Automated Underwriting Cases (AUS) 4-56 9 How to Complete VA Form 26-6393, Loan Analysis 4-64 10 How to Analyze the Information on VA Form 26-6393, Loan Analysis 4-70 VA Pamphlet 26-7, Revised Chapter 4: Credit Underwriting 4-2 1. General Underwriting Information Change Date February 22, 2019 This Chapter has been revised in its entirety. a. Underwriting Information VA Underwriting Standards require lenders to always utilize the following guidance when Underwriting VA-guaranteed loans: Lenders are encouraged to make VA loans to all qualified Veterans who apply.
• salary rate and pay frequency, • average hours per pay period, • summary of year to date information including base pay, overtime, commissions and bonuses, and • reference number for the verification. Continued on next page . VA Pamphlet 26-7, Revised
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