Solutions/Road Map to Stated Income

  1. If rental property, simple, using DSCR, read DSCR comparison excel, running Loannex to check pricing, and can use bank statement program for rental
  2. If primary,
    • self employed, can use bank statement, P&L, etc, run Loannex
    • if w-2, use WVOE, VVOE, run Loannex
    • if 40% down, GMCC Universe in 6 states, select counties, lower rate, close to full doc, read GMCC Universe PPT for details
  3. if not clear after running EPPS full doc, Loannex for non-QM (stated income), email production or contact your local branch manager
  4. Possible to use asset depletion, asset utilization/qualification if sufficient assets for better rate either QM or non-QM. Read GMCC Celebrity Asset Depletion PPT and GMCC asset as income section
  5. Join weekly meetings Tuesday/Friday 10:30am to stay humble/hungry as priority, with passion and dedication to learn, follow, execute, market and close many more loans