• Point What is a Point and how much is it? On the below image for FIN 431

Mortgage Loan and Underwriting Commercial Real Estate Loans. You may use a calculator. No cell phones and no other electronic devices. . Underwriting a Consumer Mortgage Loan (Articles posted on Canvas & Discussed in Class) Loan to Value - Know the definition, and how to calculate it. Down payment - Understand the lender will use the lesser of the appraised value or purchase price. Front end and back end debt to income ratios - Know the formulas and how to calculate them and how to interpret them. PITI - Definition. Insurance - Hazard, flood, MI Definitions. Prepayment penalty - Definition (As discussed in class). VOE - Verification of Employment - Definition. VOD - Verification of Deposit - Definition. Down payment - Definition. Point - What is a "Point" and how much is it? Appraisal Definition. Underwriter - Definition. Underwriting - Definition