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    Interview Questions BA - Mortgage

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    Nikhil Satav
    Mortgage interview questions for business analyst discusses key terms used in mortgage applications and analysis. The front ratio indicates mortgage payments like taxes, principal, insurance, and condo fees as a percentage of gross income. The back ratio looks at total debt payments, including mortgages, credit cards, loans, as a percentage of gross income. A mortgage business analyst should be proficient in tools like MS Office, VBA, SQL and understand concepts such as asset management, litigation processes, and cash recovery. Pre-qualification evaluates a borrower's total mortgage capacity based on income and credit. Pre-approval verifies employment and accounts to determine capacity for a specific property. Final loan approval occurs after underwriting is complete and all documents

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    Interview Questions BA - Mortgage

    Uploaded by

    Nikhil Satav
    422 views2 pages
    Mortgage interview questions for business analyst discusses key terms used in mortgage applications and analysis. The front ratio indicates mortgage payments like taxes, principal, insurance, and condo fees as a percentage of gross income. The back ratio looks at total debt payments, including mortgages, credit cards, loans, as a percentage of gross income. A mortgage business analyst should be proficient in tools like MS Office, VBA, SQL and understand concepts such as asset management, litigation processes, and cash recovery. Pre-qualification evaluates a borrower's total mortgage capacity based on income and credit. Pre-approval verifies employment and accounts to determine capacity for a specific property. Final loan approval occurs after underwriting is complete and all documents

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    Interview questions BA - Mortgage

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    Mortgage interview questions for business analyst discusses key terms used in mortgage applications and analysis. The front ratio indicates mortgage payments like taxes, principal, insurance, and condo fees as a percentage of gross income. The back ratio looks at total debt payments, including mortgages, credit cards, loans, as a percentage of gross income. A mortgage business analyst should be proficient in tools like MS Office, VBA, SQL and understand concepts such as asset management, litigation processes, and cash recovery. Pre-qualification evaluates a borrower's total mortgage capacity based on income and credit. Pre-approval verifies employment and accounts to determine capacity for a specific property. Final loan approval occurs after underwriting is complete and all documents

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    422 views2 pages

    Interview Questions BA - Mortgage

    Uploaded by

    Nikhil Satav
    Mortgage interview questions for business analyst discusses key terms used in mortgage applications and analysis. The front ratio indicates mortgage payments like taxes, principal, insurance, and condo fees as a percentage of gross income. The back ratio looks at total debt payments, including mortgages, credit cards, loans, as a percentage of gross income. A mortgage business analyst should be proficient in tools like MS Office, VBA, SQL and understand concepts such as asset management, litigation processes, and cash recovery. Pre-qualification evaluates a borrower's total mortgage capacity based on income and credit. Pre-approval verifies employment and accounts to determine capacity for a specific property. Final loan approval occurs after underwriting is complete and all documents

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
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    Mortgage interview questions for business analyst

    Mortgage business analyst Q & A

    Give a basic overview on mortgage applications !


    When you submit a loan request, your request will be evaluated based on your present
    income and the age of the house to determine the final payment terms There are two
    terms which are used for the calculation and analysis purposes:
             Front ratio which indicates all the mortgage payments (PITI) which includes your taxes,
    principal amount, insurance and condominium to your gross income.
             Back ratio on the other hand, indicates the ratio of the amount of your total mortgage
    payment, credit card payments, car payments plus any other loan payments you’re paying
    to your gross income.

    Also, the thing to note is to sort out your credit report before applying. This way you can land a
    fair deal with the lender!

    What are the basic requirements from a mortgage business analyst?

    The business analyst in the mortgage industry should have the right mix of communication,
    technical and functional skills. He should be conversant with MS Office, VBA, SQL etc to
    corroborate his domain skills in mortgage industry. He should understand the basic concepts
    such as asset management, litigation processes and cash recovery etc.

     
    Can you explain what the terms pre-qualification, pre-approval and final loan
    approval stand for?
    Pre-qualification is the evaluation of the total mortgage you can offer to the lender. It is
    determined by your income-proof and your credit report. Then, when the information of
    your employment and accounts are verified, it?
     is called pre-approval. This is where your
    chosen property is evaluated by the market value to determine your mortgage capacity.
    After the lender finalized the deal on which all necessary documents and other formalities are
    approved, it is called final loan approval.
     

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