Unlocking Loan Solutions with Radian: Payment Shock

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.

Listen to the Podcast: https://www.buzzsprout.com/948847/13773936
Download the Job Aid: https://www.radian.com/-/media/Files/Enterprise/Training/QRG/ULS-JobAid-Payment-Shock?utm_source=training&utm_medium=pdf-collateral&utm_campaign=uls-payment-shock-webpage&utm_content=payment-shock-jobaid&utm_term=
All episodes: https://www.radian.com/news-and-knowledge/training/unlocking-loan-solutions?utm_source=training&utm_medium=video&utm_campaign=uls-webpage&utm_content=all-uls-videos&utm_term=

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:
- Radian Guidelines: https://www.radian.com/what-we-do/mortgage-insurance/mi-rates-and-guidelines
- Fannie Mae Selling Guide B2-1.4-02, Adjustable-Rate Mortgages (ARMs) (12/14/2022): https://selling-guide.fanniemae.com/Selling-Guide/Origination-thru-Closing/Subpart-B2-Eligibility/Chapter-B2-1-Mortgage-Eligibility/Section-B2-1-4-Loan-Amortization-Types/1032991911/B2-1-4-02-Adjustable-Rate-Mortgages-ARMs-12-14-2022.htm#ARM.20Payment.20Shock
- Fannie Mae Selling Guide B3-6-04, Qualifying Payment Requirements (06/07/2023): https://selling-guide.fanniemae.com/1032990491/B3-6-04-Qualifying-Payment-Requirements-04-06-2022.htm
- CFPB: Ability-to-Repay/Qualified Mortgage Rule: https://www.consumerfinance.gov/rules-policy/final-rules/ability-to-pay-qualified-mortgage-rule/

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