MBA CRU study plan

Map the full residential underwriting workflow from application intake to final decision, and label each stage with its decision point

Define the four underwriting pillars (capacity, credit, collateral, character) and list the specific documents that evidence each one

Build a one-page glossary of 25 core residential underwriting terms with a plain-language definition for each

Practice reading a standard income documentation package and identify which items trigger further review

Calculate gross and qualifying income for salaried, hourly, bonus, and commission earners using averaging and continuity rules

Reconcile stated income against tax transcripts and pay stubs, and flag discrepancies with a written rationale

Compute self-employed qualifying income from business and personal returns using an add-back worksheet

Distinguish stable from variable income streams and justify a qualifying decision in two sentences each

Compute total debt-to-income ratio using housing expense, installment debt, and revolving minimums

Apply residual income logic and explain when DTI alone is insufficient for a decision

Identify compensating factors that offset high DTI and document them in underwriting notes

Recompute DTI after a simulated debt payoff and state the decision impact

Evaluate credit reports for derogatory items, disputes, and rapid rescoring triggers

Explain how credit score tiers affect pricing and eligibility without citing specific investor matrices

Assess asset statements for sourcing, seasoning, and reserve requirements

Write decline and approval letters that state the specific reason for the decision

Interpret an appraisal report for comparables, adjustments, and value conclusion consistency

Identify property condition and eligibility red flags that require a second review

Calculate loan-to-value and combined LTV across first and second liens

Determine documentation requirements for gift funds, seller concessions, and down payment assistance

Assemble a complete underwriting file checklist and mark which documents are conditionally required versus always required

Draft prior-to-closing and prior-to-funding conditions that are specific, testable, and borrower-actionable

Trace a file from submission through conditional approval and clear-to-close, noting where errors commonly occur

Audit a completed file against the checklist and log every missing or stale document

Work through timed scenario sets that combine income, credit, and collateral judgments in a single decision

Practice writing a full underwriting summary in under 15 minutes with a clear recommendation

Review every missed item from prior weeks and restate the correct rule in your own words

Identify your three weakest subtopics and build a targeted drill for each

Complete a full-length timed practice set under exam conditions and record your score by subtopic

Re-drill the three weakest subtopics until accuracy exceeds 85%

Recite the core decision rules for income, DTI, credit, and collateral from memory without notes

Finalize a one-page decision-rule sheet you can review in the final 48 hours