The document discusses real estate finance unit 12 on underwriting. It explains that underwriters look at a borrower's capacity, character, and collateral when evaluating a loan. Underwriting guidelines include loan-to-value ratios, down payment guidelines, and debt-to-income ratios. Underwriters must verify a borrower's ability to repay by considering income, employment, debts, credit history, and other factors. They also appraise the property being used as collateral for the loan.

1. Real Estate
Finance
Unit 12: Underwriting

2. Unit 12: Underwriting
What Lenders Look For
 Capacity
 Character
 Collateral

3. Unit 12: Underwriting
Underwriting
 Underwriting Guidelines
 Loan-to-Value Ratios
 Down Payment Guidelines
 Debt-to-Income Ratios

4. Unit 12: Underwriting
Underwriting
 Underwriting the Borrower
 Ability-to-Repay Rule
 Ability to Repay Underwriting Factors
 Current or Reasonably Expected Income or Assets
 Current Employment Status
 Monthly Payments on the Covered Transaction
 Monthly Payments on a Simultaneous Loans
 Monthly Payments for Mortgage-Related Obligations
 Current Debt Obligations, Alimony, Child Support
 Monthly Debt-To-Income Ratio or Residual Income
 Credit History Information

5. Unit 12: Underwriting
Underwriting
 Underwriting the Borrower
 Ability-to-Repay Rule
 Verification Using Third-Party Records
 Verifying Income and Assets
 Verifying Employment Status
 Verifying Mortgage-Related Obligations
 Verifying Debts

6. Unit 12: Underwriting
Underwriting
 Underwriting the Borrower
 Qualified Mortgages
 Standard Qualified Mortgages
 Temporary Alternative Definition of Qualified Mortgages

7. Unit 12: Underwriting
Underwriting
 Underwriting the Property
 Appraising the Property
 Appraisal Approaches to Value
 Reporting Options