Notes

WFHA Requirements for prior Bankruptcy

Chapter 7

- 2 Years plus any additional time required by Lender.

- Borrower must qualify financially and have established a history of good credit history from the time Bankruptcy was filed as well as meet other FHA requirements.

Chapter 13

- FHA Rule allows a lender to conisder approving an FHA loan application from borrower who is still paying on Chapter 13 plan if those payments have been made and verified for a period of at least 1 year.

- The court trustee's written approval is a condition of the policy.

- Borrower must write a detailed explanation of the Bankruptcy and submit with loan application.


FHA policy with regards to Foreclosure

- FHA insured mortgages are not available to borrowers who have had Foreclosure or Deed-In-Lieu of Foreclosure with previous 3 years.

- If foreclosure of main residence was due to extenuating circumstances, an exception may be granted if borrower has since established good credit. NOT to include the inability to sell a home when transferring from one area to another.

FHA policy with regards to Collections, Judgements and Federal Debts

- Collection accounts usually are not required to be paid off as a condition for loan approval.

- Any judgements would have to be paid in full prior to closing.

- Borrowers who are delinquent on federal debt such as tax liens, student loans, etc are not eligible.


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EMAIL WHEN NO CONTACT MADE CREDIT REPORT PULL NEEDED :


I am sending this email to advise you that it is time to pull another credit report for you. Please call us back at the number listed below so that we can get this credit report pulled.

If you would like to get your own credit report and send to the customer service email ([email protected]) here are some links for you to use.

www.scoresense.com
www.creditreport.com
www.privacyguard.com
www.identityguard.com
www.efreescores.com
www.identitysecure.com
www.freescoresandmore.com

Once you sign up for the free trial period of credit monitoring to obtain your credit report, please call us immediately with your username and password so that we can get the credit report uploaded and processed for you.

While on the phone with us we will give you confirmation that the credit report has been uploaded to your portal and at that time if you do not wish to keep the credit monitoring service, you can call and cancel it before the free trial period expires.

Thank you for your continued cooperation throughout this process and we look forward to speaking with you.

Best Regards,


2nd Credit Report Needed **Inversion Credit**


Pulled and uploaded credit Set all tasks for processing, consultation and 3rd Credit Pull


VOICEMAIL LEFT :

No contact made with client. Left voicemail and sent email advising that it is time to pull 2nd credit report. Will set task for Friday to try and call again if task is still not completed.

UNABLE TO LEAVE VOICEMAIL :

No contact made with client. Unable to leave voicemail and sent email advising that it is time to pull 2nd credit report. Will set task for Friday to try and call again if task is still not completed.

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Credit Report Consultation Verbiage

When no contact made, simply copy and paste the text below into your email to client.

Good news! We are sending you this email to inform you that you are due for your Credit Report Consultation. Please call us at the number listed below so that we can go over your Credit Report results with you.

Thank you for your continued cooperation throughout this process and we look forward to speaking with you.

Best Regards,

When contact made and you are finished with your consultation, simply copy and paste this text below into an email to your client. (When scores have increased!)

I wanted to send an email and say CONGRATULATIONS again on your scores going up. I also want to thank you on behalf of Inversion Credit for your continued cooperation and positive outlook throughout this process. You are that much closer to being able to purchase a home.

We look forward to speaking with you next month to go over your (3rd, 4th, …) Credit Report results and hopefully give you some more good news!

Best Regards,





When contact made and you are finished with your consultation, simply copy and paste this text below into your email to your client. (When scores have went down or stayed the same)

I wanted to send you an email and thank you on behalf of Inversion Credit for your continued patience throughout this process. I also wanted to reiterate the tips I gave you over the phone during your consultation. Please see tips below.

• Continue to pay your bills on time.
• You can obtain a secured credit card.
• Continue to build positive credit.
• Pay down your credit cards to below 30% of their limit.
• Do NOT apply for ANYTHING.
• Do NOT get any new negative items added to your report.

If you have any further questions on how you can continue to improve your credit, please do not hesitate to give us a call at the number listed at the bottom of this email.

Best Regards,

If during your consultation, your client wishes to cancel and you SAVE them from doing so, simply copy and paste the text below into an email to your client.

I wanted to send a quick email to you thanking you on behalf of Inversion Credit for deciding to stick around and continue to help us to help you improve your credit. You hold the most important tool you can hold during this process, which is patience. We look forward to continuing to serve you and help you fulfill your dream of owning a home.

If you have any further questions and would like an update on progress being made or where we are in the process, please login to your portal or give us a call at the number listed below. As always, we look forward to speaking with you and providing answers to any questions you may have. If you feel more comfortable speaking with an agent in particular please just ask for them by name.

Best Regards,


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