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An office of elite mortgage lending professionals with a common interest and goal focused on providing customer service that exceeds expectation. Thereby building our business from repeat and referral opportunities. Ruth Vogt. LMB 100023827. NMLS 257576. Regulated by the Division of Real Estate. Fairway Independent Mortgage is an Equal Housing Opportunity.

This is a joke, right? Right?

I have recently posted several stories about the desire of millennials wanting to become homebuyers. Then today I came across this video of a millennial's first day on the job. I laughed. Then I stopped. Then I wondered. Then I worried. You see when an underwriter reviews a file for loan review, "The Four C's" must be met:

  1. Capacity
  2. Credit
  3. Cash (or Capital)
  4. Collateral

Capacity is not just about AMOUNT of income to debt, but HISTORY of income (pattern) and LIKELIHOOD  of income to continue. So, when I watched this video, I immediately wondered how this "millennial attitude" could affect underwriting decisions! (Keep in mind, the recent employment vs 2 year history wouldn't be a problem if her education was in the same line as her work.) Click below:

Millinial's First Day on Job

 

 

Tell, me ... do you think the attitude reflected on this video is real? (Of course, the actual script for the video is written as a satire. But is the ATTITUDE real??)

 

Most recent Millennial Homebuyer post: 80% of Millennials Want to Buy a Home

Ruth Vogt Colorado Home Lender

 

 


Opinions expressed here are the sole responsibility of the author, and do not necessarily reflect the view of Fairway Independent Mortgage.

Ruth Vogt Colorado Mortgage Lender Ruth Vogt, Sales Manager

 #LMB100023827, NMLSR# 257576

 Equal Housing Opportunity. 

 Regulated by the Division of Real Estate.

   www.ColoradoHomeLender.com

   ruthv@fairwaymc.com  303-881-7849.

 

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Comment balloon 7 commentsRuth Vogt • June 08 2017 05:40PM
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