Radian On Air
Radian On Air
Payment Shock - Unlocking Loan Solutions with Radian
This episode is a part of Unlocking Loan Solutions with Radian, a micro-learning series for mortgage & real estate professionals, with video, audio, and job aid for each topic. Choose your preferred learning style and take your learning experience to a new level.
In this episode, we explore the concept of payment shock, its impact on loan reviews, and how it can be mitigated. We discuss:
- Understanding payment shock in mortgage transactions
- GSEs' guidelines on payment shock
- Real-life scenarios illustrating payment shock
- Strategies to mitigate payment shock
- Importance of borrower education and suitable mortgage products in managing payment shock
Resources
- Fannie Mae Selling Guide B2-1.4-02, Adjustable-Rate Mortgages (ARMs) (12/14/2022)
- Fannie Mae Selling Guide B3-6-04, Qualifying Payment Requirements (06/07/2023)
- CFPB: Ability-to-Repay/Qualified Mortgage Rule
- Radian Guidelines
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