Mortgage Broker Loan

who does camp grounds?

Im scratching my head on this one. I think I might need to go hard money. 1.2mil Cash out from current $600,000. Currently listed for 3mil for the last 4 mos. The guy who is renovating a major ball park wants to buy it as soon as renovating the ball park wraps up Low fico (600) from living in china for the last 6 mos and running dry on cash. he sold another business he had to etrade a few years back, and finally ran out of money. No money in the bank It’s a 32 acres on a lake with 300 ft of water front 26 structures 20 cabins 2 offices 2 maintanence buildings A café A theater 6 tennis courts 1 soccer field 1 baseball field borrower's Mom lives on and maintains the property. It’s a real deal camp ground. Looking for hold me over financing. behind on LLC docs. currently with hard money financing who wants a lease hold deal if hes gonna give him more money. Any suggestions?
- Last Post by: Scrooge McDuck on 12/30/2007 @ 10:12 AM

The Giants are up!??

3rd qtr G men= 21 Bellicheats= 16
- Last Post by: Scrooge McDuck on 12/30/2007 @ 09:44 AM

WHAT ARE YOU WAITING FOR???

I want to WELCOME and THANK the NEW PARTNERSHIPS we have made on this site thus far!!! <b>WE LOOK FORWARD TO PROVIDING YOU WITH QUALITY LEADS FOR A LONG TIME!!!</b> In the mean time, we're looking to take on another 150 or so weekly, and once we're there, I'll slow up on new business for a bit to assure the quality of the lead does NOT go down!!! SEIZE the DAY!!! Don't wait until they are on here at the end of Jan & Feb telling you how many loans they closed with our leads!!! <font color="red"><b>Call me today, and start building your pipeline tomorrow!!!</b></font id="red"> <b><font color="red">LIVE TRANSFERS!!! IMMEDIATE CALLBACKS!!! </font id="red"></b> <font color="green">STOP wasting time LOOKING for LEADS, and START CLOSING more LOANS!!! </font id="green"> <b>100% EXCLUSIVE!!! MAX 85% L.T.V.!!! 10 - 15% CLOSING RATE!!! AMERICAN CALL CENTER WITH AMERICAN REPS!!! BEST LEAD CREDIT POLICY IN THE BUSINESS!!! ALL LEADS RECORDED FOR QUALITY ASSURANCE!!!</b> MANY REFERRALS AVAILABLE UPON REQUEST <b><font color="red">PRICING SPECIAL GOOD TO DEC 31ST</font id="red"></b> (866) 926 – 1222 X - 101 (609) 964 - 9841 WWW.ABCHOTLEADS.COM SALES@ABCHOTLEADS.COM
- Last Post by: ABC LEADS on 12/30/2007 @ 09:14 AM

NET BRANCHES NEEDED-BEST ARM LEADS GUARANTEED!!!!

1st Integrity Mortgage, Inc. is currently seeking "key branches" in certain states. We received our FHA Approval a few months ago and are looking to go nationwide. In order to do so, we must have a physical office in a particular region to orginate an FHA loan. For example, being in Maryland, we can not do an FHA loan in Florida since there is not a physical office there. The benefit of being a "key branch" is that you would be part of the corporate office. Benefits you would receive are: 1. Have your own branch checking account 2. Ability to charge other branches to use your FHA Lender ID 3. Top of the line benefits 4. Access to our lead system Look no further for the best ARM leads. 1st Integrity Mortgage, Inc. has the leads you have been looking for. What seperates our leads from other lead companies? First of all, we are NOT a service provider. We are a mortgage company that generates our own leads. Currently, we are only licensed in the state of Maryland, but we have 25 licenses pending. Those states would include AL, AR, AZ, CA, CO, DC, DE, FL, GA, IA, ID, IN, KA, KY, MI, MN, MO, NM, OR, TN, UT, VA, WA, WI, and WV. We will be applying for the other states in the spring after our fiscal year end. What are the leads? The leads are a list on excel that we create and is sorted by the reset/adjustment date. You get the all the basic information such as name, address, city, state, zip code, loan amount, current interest rate, adjustment date, 1st adjustment rate, periodic adjustment rate, and the rate cap. This may not seem much different than other lead companies out there. So what sets our leads apart from the others? On top of getting the excel file with all the data you want, we also send you a seperate PDF file that contains ALL the closing docs for that particular borrower. That would include the Deed of Trust and the Adjustable Rate Rider itself. We have been using this technique with a lot of success. Originally, we wanted to keep everything cost effective and manageable, but until recently, we decided why not help other broker's on here to get loans too. These leads are most effective if you have FHA. We are FHA approved, but can only originate FHA in the Mid Atlantic Region. Since we are not able to do these types of loans outside our region, it is in our best interest to pass these leads to our branches so we can be more effective as a corporate office. If you have any questions, please let me know.
- Last Post by: 1stintegritymortgage on 12/30/2007 @ 08:11 AM

SIVA; LTV61%; CLTV85% FICO 717

I need to find someone who can take on a cashout/debt consolidation refinance in Alaska. We are subordinating his 3rd mortgage and consolidating both the 1st and 2nd. I am looking for conforming rates!! Please Help
- Last Post by: chite on 12/30/2007 @ 07:37 AM

$1 millions + Loans in Illinois/ NY, NY

I'm looking for a lender that can do Purchase loans of $1 million + in Illinois and New York. Mostly SFR's in Illinois and Hi-Rise and Co-op's in New York. Please reply to the posting or give me a call at 708-887-5800 and ask for David. Thanks
- Last Post by: mortgagemessiah on 12/30/2007 @ 06:10 AM

24 hour turnaround with full package

Any lenders out there giving same day to 24 hour approvals on full packages with a 776 purchase in FL?
- Last Post by: jkennedy1234 on 12/30/2007 @ 01:55 AM

CAN ANYONE DO THIS LOAN

CAN ANYONE DO THIS FHA WITH COLLECTIONS ON HIS CREDIT FROM THIS YEAR? I HAVE LOE's STATING WHAT HAPPENED WITH HIS COLLECTIONS. PLEASE SOMEONE HELP!!!!!! MID 580 97 LTV O/O PURCHASE GIFT OF FUNDS FROM GFRIEND 3% FROM NEHEMIA HIS INCOME MONTHLY $4660. DTI 41
- Last Post by: jkennedy1234 on 12/30/2007 @ 01:39 AM

Easy Deal...

200K Loan Amount 750 FICO Can go SISA or SIVA 305K Appraised Value (66% LTV) Cash out Refi Non Owner Occupied/SFR No seasoning issues Want a 30 year IO or straight 10 year IO. Who can give me YSP at 6.875%?
- Last Post by: jkennedy1234 on 12/30/2007 @ 01:28 AM

New California Hard Money Lender ready to close!

Never has the need for a reliable Hard Money Lender been so great. We lend throughout the great state of California on a variety of property types and situations. <font size="5">California Equity Lenders, Inc has arrived!!</font id="size5"> We are a true 'equity' based lender with a large private investor base still willing, waiting and able to fund your Hard Money deals. Feel free to contact us anytime to discuss your loan scenario. <i>[/blue]Best Regards,</i> <b>Gillee Sherman President, California Equity Lenders, Inc.[/blue]</b> (818) 522-9307 - Direct (818) 337-2262 - Fax <font size="5"><font color="red">www.calequitylenders.com</font id="red"></font id="size5"> gillee@calequitylenders.com Easy ‘Hard’ Money for the 21st Century
- Last Post by: Jack Straw on 12/30/2007 @ 01:27 AM

HELP!! Need I/O on Refi Cash-Out/ NOO

I need someone to help me place this file for the 3rd time. score 753 Stated Refi Cashout / Investment 75-80LTV $177K-$184K loan amount $236K app value **full file ready to go!!!!!
- Last Post by: jkennedy1234 on 12/30/2007 @ 01:16 AM

680 fico 90/95% ltv r/t refi bk05

I have a property in Hawaii that needs a rate/term refi. Fico is 680 and she had a bk in 2005. She has plenty of assets but not a great income on paper. most of her work is under the table. any thoughts for a SIVA at that high LTV?
- Last Post by: lukeallison on 12/30/2007 @ 12:37 AM

CH 7 BK under 2 years discharged

What lender still lends on borrowers that are under 2 years out from a CH 7 BK? Signle Fam Res. 600 Mid score Full Doc. Sales price around: $185,000 Owner Oc
- Last Post by: kcm70 on 12/29/2007 @ 10:49 PM

I would like your perspective...

I am a new member, and would like to get the perspective of this forum. We will be generating First Time Home Buyer Leads on a national basis beginning in January. These Leads will be generated via national cable TV advertising that drives people to our website. I have a few questions: 1. What is the general interest level of First Time Home Buyer Leads? We think this is a good target given the glut of homes on the market right now. 2. Is there greater interest in EXCLUSIVE leads versus SEMI-EXCLUSIVE leads? Obviously, we think that the exclusive leads will convert better. 3. What are mortage professionals willing to pay for EXCLUSIVE leads like this? What is fair market value? Thank you for your help, alanalex
- Last Post by: NegAm on 12/29/2007 @ 10:15 PM

720 Fico,Full Doc, 50%LTV--Need To Beat 5.75% HELP

I am looking for some competitive pricing for a scenario which will …I need to know where I can take this to get this guy better than a 5.75% and how low do you think i can get with this good looking scenario, Im open for suggestions of course, thanks again guys. <b></b> Client Scenario: SFR Primary Residence California Fico Score: 720 Doc Type: Full Doc Cash Out Refinance Property Value: $850,000 New Loan Amount: $400,000 (cash out=$100,000) Wage Earner Liquid Assets: $20,000 Overall Income: $8000.00 LTV: 50% DTI: 35%
- Last Post by: racerx on 12/29/2007 @ 10:13 PM

refi, low fico, stated, TX, 95 ltv

SFR, second home, stated, o/o, 95 ltv, $110k l/a, 60+ days delinquent. thanks!
- Last Post by: bridgettegivens on 12/29/2007 @ 9:30 PM

Are fixed rates trending down next week?

I have been watching rates dropping gradually for 2 days now and I have seen the 10-year bond yield dropping too. I think the bad news on the economic indicators and an international incident have caused all this shift and if it continues we could see our 30 year fixed rate dropping to 5.75 at par or 5.625 at 0.50 back on a 30-day lock by leading aggressive A paper lenders. Let us guess where the 30-yr fixed conforming rate will be heading in the first week of January 2008 and how low it will dip this time before going back up again. My own guess is that it will go down during the first week of January and will go back up by January 7th or so. I hope to prelock for my clients during the first week of January like harvesting while the sun shines. What does everyone think? Peter
- Last Post by: mgraham224 on 12/29/2007 @ 9:19 PM

a question about credit cards

what would happen if a consumer walked away from 30k in credit card debt... no home, no business, no assets, no BK... just walked away on 3+ cards... obviously, a poor credit score, but what else? I heard that once it becomes a charge-off, a 1099 will be sent and taxes have to be paid, however, i havn't seen this first hand...
- Last Post by: SoCalRay on 12/29/2007 @ 8:43 PM

I need No Ratio Invest Cashout highest LTV

Any ideas where I can get more than 60% cashout on an investment property? Thanks!
- Last Post by: peter on 12/29/2007 @ 8:26 PM

Hard Money/Construction Needed

Upscale Resi: Builder needs 150-200k until next draw in Pa. 1.5 mil. on first Bank appraisal of 3.25 mil Any takers?
- Last Post by: Boblending on 12/29/2007 @ 8:26 PM

Loan Scenario....Need Help

Refi(R/T)/ $475,000 Value/ $330,000 Loan Amt./ 70%LTV/CLTV / 617 FICO 3 Units / Owner Occupied / SISA......?
- Last Post by: re_manager on 12/29/2007 @ 7:19 PM

Web based or browser based

Happy New Year. Can someone tell me what companies are offering browser based LOS( CALYX,BYTE,ENCOMPASS? Does not need to be one of these systems ) Types that are web based to gain access from any key location? Thanks in advance
- Last Post by: NNMS on 12/29/2007 @ 7:05 PM

awesome opportunity..FNL signing bonus 10k

Wholesale Account Executive (WORK FROM HOME) Foreign National Loans signing bonus upto 10k 90 days full benefits .25 basis points http://consumermortgagereports.ca/index.php?p=84 Call 1-866-983-7243 The Account Executive is responsible for contacting Canadian mortgage brokers and selling mortgage products and services. Responsibilities include: Contacting and setting up Canadian mortgage brokers Advise brokers of any changes to our loan programs, rates and/or policies Act as liaison between broker and our loan processing staff Assist in protecting our assets through careful review of broker activity Provide Regional Sales Manager with timely production reports Ensure all compliance regulations are met Successful candidates will have: One year of experience as a wholesale Account Executive or Top producing Loan Officer Consideration will be given to top notch retail sales performers. Must be self motivated and have a track record of being a top sales performer. Knowledge of state and federal lending regulations. Excellent verbal and written communication skills along with public speaking via webcam. Bachelors degree preferred. We are looking for Wholesale Account Executives nationwide to work from home on vontage line and company email........ Regional VP National Accounts Reps (25) Provincial Account Reps (10) We are also looking throughout the USA since it is a work from home position
- Last Post by: ttaylor1999 on 12/29/2007 @ 5:31 PM

commercial construction loan, owner occ

800 credit score borrower looking for max ltv loan full doc to build new building on land he currently owns.20 yrs in bussines currently leasing in Michigan business shows a profit,loan amount $600,000.He will give us deal if his local bank cant do it. Im hanging my hat on yhe fact that bank cant giv enough ltv?
- Last Post by: dwallace on 12/29/2007 @ 4:16 PM

HARD MONEY

65% to 70% LTV hard money, value 320k in Portland Oregon SFR O/O Thank You in advance
- Last Post by: Yardape on 12/29/2007 @ 4:03 PM

JUMBO SIVA

I have a self employed FTHB client purchasing a SFR in Miami,Fl for $711,000 he is putting 10% down and getting 3% seller Concessions. He has a 684 credit score and is looking for a 30 yr fixed either SIVA or SISA. Fifth/Third won't allow seller concessions if the LTV is above 80% so I need to know who else can do this.
- Last Post by: godofmortgage on 12/29/2007 @ 3:00 PM

Does ASC perform loan modifications?

If so, does the borrower have to be behind on there payments to perform a loan modification? Will they lower the rate as we'll?
- Last Post by: darkstar on 12/29/2007 @ 1:49 PM

Lenders with Saturday hours

Any lenders working today? I know there are a few that probably work on Saturdays. Loan is a purchase in FL with 776 fico.
- Last Post by: jestkikn on 12/29/2007 @ 1:30 PM

Looking for IL LO's / Brokers To Team Up With

Market is bad for most of us, I have a plan to make us money. We can partner up and I can originate deals and you struture them. I can join your company or you join the one I am with. So if you are near Ohare that is a plus. Email me lets talk this out.
- Last Post by: misteryu on 12/29/2007 @ 1:22 PM

non owner to 80 ltv refi in Or

765 fico siva rate and term refi 1350000 loan amount sfr
- Last Post by: danjara21 on 12/29/2007 @ 1:04 PM

Has anyone heard of these guys?

http://lenders.housingprograms.org/signprogram.asp Their initial claim is to be a training spring board for the sub-prime bailout borrowers and many of the regional grant programs. Plus their "sign" program seems to offer flexibility. don't know......... I am thinking of signing up. Could someone check out their training videos and maybe add some feedback?
- Last Post by: keckpas on 12/29/2007 @ 12:11 PM

RESPA VIOLATION?

I was reading a previous post that is now locked about RESPA violation. Can anyone tell me if it's RESPA violation if a mortgage company charges a fee on the HUD-1 to pay a marketing company if the borrower or seller hasn't agreed to this?
- Last Post by: themoneybee on 12/29/2007 @ 11:35 AM

1099 Purchase, Max LTV

Here's my scenario: I have a borrower with no credit scores but does have alternative credit. He's a 1099 employee and has been so for the last several years. He would like to purchase a home using his 1099 income which for 2006 was $250,000. Please suggest any companies that would offer 95 to 100 financing with decent rates. This is a personal loan (my husband), so I want the best of all worlds.
- Last Post by: GAsuperiorloanofficer on 12/29/2007 @ 11:30 AM

Need 95% Pricing

Purchase 656 FICO $410K Loan Amount 95% LTV First Time Home Buyer Stated/Verified if Possible - If NOT, 12 months bank statements SFR Clifornia Deal Owner Occ MAX Rebate Thanks
- Last Post by: brabus on 12/29/2007 @ 10:58 AM

Loanapp.con

Has anyone tried leads from Loanapp.com? I am thinking about doing a campaign with them of 100 live transfers and 100 internet leads. How was the customer service? How quick were they able to return "bad" leads? What closing ratio can I expect on the live transfers? What ratio can I expect on the internet leads? All information would be appreciated. Even if you would like to tell me who you have had some lead success with.
- Last Post by: mortiz0126 on 12/29/2007 @ 10:37 AM

70% LTV, SISA

Since my last post on this deal was lost to fodder, and my in-house can't do... I need a 135K refi, SISA. 70%LTV. 638 mid score. self employed borrower.
- Last Post by: Kewgah on 12/29/2007 @ 10:34 AM

New LO Needs Sales Advice

Hello Everyone, I'm a new loan officer and have just started dealing with prospects. Our company provides internet leads and I've been calling and speaking to these people. I was wondering if anyone has any advice for how I can start closing loans...rather than just giving rates and gfe's. My pricing is very competetive and I know that I could probably do much better than I'm doing. Does anybody have any advice for me? When I say internet leads I'm talking about lending tree and lowermybills.com. Would anyone recommend that I learn/absorb scripts...does anyone know of any good scripts? Any input would be very much appreciated...
- Last Post by: shearne on 12/29/2007 @ 10:29 AM

New Home sales FALL to Record 9% drop!

http://www.msnbc.msn.com/id/22418842/ <b> New-home sales at lowest level in 12 years The last time housing data was this grim was April 1995 WASHINGTON - Sales of new homes plunged last month to their lowest level in more than 12 years, a grim testament to the problems plaguing the housing sector.</b> The Commerce Department reported Friday that new-home sales tumbled by 9 percent in November from October to a seasonally adjusted annual rate of 647,000. That was the worst showing since April 1995, when the pace of sales was 621,000. <b> The sales pace for November was much weaker than economists were expecting.</b> They were predicting sales in the weakest sector of the economy to drop by around 1.8 percent, to a pace of 715,000. The median sales price of a new home dipped to $239,100 in November. That is 0.4 percent lower than a year ago. The median price is where half sell for more and half for less. By region, sales fell in all parts of the country, except for the West, where they rose. New-home sales dropped by 19.3 percent in the Northeast. <b>They plunged by 27.6 percent in the Midwest</b> and they fell by 6.4 percent in the South. However, sales increased by 4 percent in the West. <b> Over the last 12 months, new-home sales nationwide have tumbled by 34.4 percent, the biggest annual slide since early 1991, and stark evidence of the painful collapse in the once high-flying housing market.</b> That market has been suffering through a severe slump following five years of record-breaking activity from 2001 through 2005. Sales turned weak as did home prices. The boom-to-bust situation has increased dangers to the economy as a whole and has been especially hard on some homeowners. <b> Foreclosures have soared to record highs</b> and probably will keep rising. A drop in home prices left some people stuck with balances on their home mortgages that eclipsed the worth of their home. <b>Other home buyers were clobbered</b> as low introductory rates on their mortgages jumped to much higher rates, which they couldn’t afford. <b> With credit now harder to get to finance a home purchase, the problems in housing have grown worse. Unsold homes have piled up. The problems are expected to persist well into next year.</b> <b> The housing and mortgage meltdowns have raised the odds that the country will fall into a recession.</b> And, it has given Democrats and Republicans politicians— including those who want to be the next president — plenty of opportunities to spread blame around. To help bolster the economy, the Federal Reserve has sliced a key interest rate three times this year. Its latest rate cut, on Dec. 11, dropped the Fed’s key rate to 4.25 percent, a two-year low. <b> Many economists are predicting the Fed will lower rates again when they meet in late January.</b> The economy’s growth is expected to have slowed to a pace of just 1.5 percent or less in the October-to-December. Analysts believe that the housing and credit troubles will force consumers and businesses to tighten the belts, causing the economy to lose considerable speed. The housing slump has been a drag on overall economic activity, lopping more than a full percentage point off growth during the summer alone.
- Last Post by: rudeness on 12/29/2007 @ 10:27 AM

Are you drinking draft beer instead of bottle beer

Wholesale Account Executive (WORK FROM HOME) Foreign National Loans http://brokerworld.ca/index.php?p=156 signing bonus upto 10k 90 days full benefits .25 basis points http://consumermortgagereports.ca/index.php?p=84 Call 1-866-983-7243 The Account Executive is responsible for contacting Canadian mortgage brokers and selling mortgage products and services. Responsibilities include: Contacting and setting up Canadian mortgage brokers Advise brokers of any changes to our loan programs, rates and/or policies Act as liaison between broker and our loan processing staff Assist in protecting our assets through careful review of broker activity Provide Regional Sales Manager with timely production reports Ensure all compliance regulations are met Successful candidates will have: One year of experience as a wholesale Account Executive or Top producing Loan Officer Consideration will be given to top notch retail sales performers. Must be self motivated and have a track record of being a top sales performer. Knowledge of state and federal lending regulations. Excellent verbal and written communication skills along with public speaking via webcam. Bachelors degree preferred. We are looking for Wholesale Account Executives nationwide to work from home on vontage line and company email........ Regional VP National Accounts Reps (25) Provincial Account Reps (10) We are also looking throughout the USA since it is a work from home position
- Last Post by: jvanpetten on 12/29/2007 @ 10:06 AM

Loan Officers Learn Expand Your Business

How would you like to turn a "not a chance in hell" deal into a lifetime client? Incredible right!? The problem is our loan officers are talking to borrowers who want to refinance but can't because of lates (mortgage or consumer), fico score, tight guideline changes, no assets, no income...stuff like that. How can we turn this "ROACH" deal into gold? WE CAN NO LONGER JUST SELL DEBT, WE HAVE TO START OFFERING A SOLUTION! In the Financial Industry, there are 3 main sectors. Mortgages, savings/investments, and insurance make up what we call the MONEY Industry. What happens is the market is constantly changing and advisors are hopping from industry to industry, from investments to mortgage to insurance. Where ever the money is at that time, do you know these kinds of people? No matter what, everybody will run into these things anyway once in there life. One day, you'll want to buy a house, you need to get a mortgage. One day, you'll have money (a lot or a little), you need to learn how to save and invest it. One day you'll have a family and you'll need to protect them, insurance! THIS MEANS EVERYBODY IS A CLIENT. The guy who owns the home, the lady at the grocery store who rents, your personal trainer, your car guy, everybody! A new industry is coming, one where if loan officers are only offering refinances and purchase loans (DEBT) they will go out of business. We are seeing that today. We have to learn to offer an array of products, from Debt Management to Long-Term Asset Accumulation, from Retirement planning to Estate Planning. We need to learn how to get paid in different ways. Imagine traveling from LA to NY, how you going to get there? Bike, car, plane, foot? Or can you use all the vehicles to get you to where you want to be. By the way, all this is very simple. ALL COMMON SENSE CONCEPTS OF HOW MONEY WORKS. Knowledge is Power. Person with more knowledge on all 3 main sectors of the MONEY industry will have more POWER! I encourage all response because I believe in networking and spreading what I know to others. I promise you will learn something. Dont be shy, reply! Please let me know what you think. God Bless, David Day
- Last Post by: DavidFRF on 12/29/2007 @ 09:56 AM

FHA Appraisal

The last I checked, FHA appraisals are good for 6 months. Does anyone know where I can get documentation to show an FHA certified appraiser how long FHA appraisals are good for. Please do not just sayhud.gov. I have been on there for over 1/2 hour and am not getting anywhere.
- Last Post by: Hopland on 12/29/2007 @ 09:49 AM

Learn to turn garbage files into lifetime clients

How would you like to turn a "not a chance in hell" deal into a lifetime client? Incredible right!? The problem is our loan officers are talking to borrowers who want to refinance but can't because of lates (mortgage or consumer), fico score, tight guideline changes, no assets, no income...stuff like that. How can we turn this "ROACH" deal into gold? WE CAN NO LONGER JUST SELL DEBT, WE HAVE TO START OFFERING A SOLUTION! In the Financial Industry, there are 3 main sectors. Mortgages, savings/investments, and insurance make up what we call the MONEY Industry. What happens is the market is constantly changing and advisors are hopping from industry to industry, from investments to mortgage to insurance. No matter what, everybody will run into these things anyway once in there life. One day, you'll want to buy a house, you need to get a mortgage. One day, you'll have money (a lot or a little), you need to learn how to save and invest it. One day you'll have a family and you'll need to protect them, insurance! THIS MEANS EVERYBODY IS A CLIENT. The guy who owns the home, the lady at the grocery store who rents, your personal trainer, your car guy, everybody! A new industry is coming, one where if loan officers are only offering refinances and purchase loans (DEBT) they will go out of business. We are seeing that today. We have to learn to offer an array of products, from Debt Management to Long-Term Asset Accumulation, from Retirement planning to Estate Planning. Knowledge is Power. Person with more knowledge on all 3 main sectors of the MONEY industry will have more POWER! I am offering 100% free educational sessions on how the money industry works and how you can turn any file into a lifetime golden client. Please let me know what you think. God Bless, David Day
- Last Post by: DavidFRF on 12/29/2007 @ 09:47 AM

Manufactured and FHA question

Hey guys, I was just wondering if someone can tell me what the max ltv for a cash out FHA loan is?
- Last Post by: raymondb on 12/29/2007 @ 09:36 AM

Looking forward to 08

Looking forward to an even bigger 08. Dec income double from a year ago and a healthy pipeline going forward. No dom and glom here just cranking away. Good luck to everyone in 08. Keep pushing forward, lots of $$$ to be made with less competition.
- Last Post by: fitzpatrick on 12/29/2007 @ 09:33 AM

FHA Question

Hi, I have a borrower that has worked for a concrete company for the past 5 years as a W2 employee. In 9/07 he started his own biz doing the same exact work. He was recently discharged from a BK13. Credit seems fine. He is looking to do a c/o refi since he has no mortgage right now on his property. Think this would qualify for FHA and if so how would we now calculate his income. Thanks everyone and have a safe and healthly New Year!!!![:)]
- Last Post by: jvanpetten on 12/29/2007 @ 08:47 AM

4 unit, noo, SIVA, 75 ltv. $800K, anyone?

Not sure of my fico yet, Do I need 700? Anyone still doing these? borrower wants a 30yr fixed w/10 yr io
- Last Post by: re_manager on 12/29/2007 @ 08:21 AM

Fastest turn times?

Who is currently has the fastest UW submission turn times? Was considering Flagstar until I saw a 4 day turn time... Thanks
- Last Post by: re_manager on 12/29/2007 @ 08:16 AM

Finding some good stories out there

I just found this on the comp checker-board. &lt;living on the edge&gt; http://www.dsnews.com/view_story.cfm?id=1890 Says Cuomo won a round w/ Ameriquest, here is the full story: Ameriquest Pays Out $18 Million to NY Borrowers Kerri Panchuk | 12.27.07 Lender Ameriquest Mortgage Co. has paid out $18 million in restitution to New York borrowers in an effort to settle with the New York Attorney General's Office over allegations that the lender engaged borrowers using unethical lending practices. In a press statement, The New York Attorney General's office said checks would be mailed to 13,686 New Yorkers—all of whom are eligible based on information included in their loan profiles. The New York Attorney General's office reached an agreement with the lender in 2006 after the lending platform was accused of encouraging borrowers to refinance into loans that were either misrepresented or lacking the proper disclosures. “As homeowners throughout the state and the country grapple with the fallout from the subprime mortgages we must do all we can to soften the blow,” said New York Governor Eliot Spitzer. “The Ameriquest settlement demonstrates why strong state enforcement to combat predatory lending practices is crucial to protecting consumers. The financial relief provided through this settlement will help borrowers defray the price of these costly loans.” And then this one I hadn't even thought of, but should have: http://www.weatherforddemocrat.com/local/local_story_362110436.html Fraud investigators prepare for arson cases Danie M. Huffman wdreporter2@yahoo.com Insurance investigators examining fraud are expecting and preparing for a rash of arson cases. Such incidents caused by homeowners, hard on their luck, and attempting to avoid foreclosures and increasing monthly payments as the subprime mortgage crisis grows. “Home arsons for insurance money by mortgage-burdened owners are hardly new,” stated the Coalition Against Insurance Fraud in a recently released statement. “The question is whether a new and virulent spike looms.” The coalition’s Executive Director Dennis Jay said decreasing home values and lending made more strict are making it difficult for people to finance their way out of trouble. Weatherford Fire Chief George Teague said no local cases have been filed in the area. “The last confirmed arson case was investigated three weeks ago,” Teague said. “We don’t suspect it as insurance fraud, but the case is still ongoing.” Parker County Assistant Fire Marshal J.C. Travis said he has investigated many arson cases in the past year. “The one which was prosecuted was a man who was arrested due to a retaliation case,” he said. “With the new year and the holidays, people are getting deeper and deeper in debt — I wouldn’t be surprised if we saw more of that in the spring.” Travis also said local city and county fire marshals got together to discuss recent arson cases. “We actually attended the meeting to discuss cases and any similarities and the increase in arson cases during the next quarter,” Travis said. “This was the first meeting of its kind and we decided to continue to meet on a reguilar basis.” Adjustable-rate mortgages, of more than $50 billion, were reset last month, increasing a financial burden for homeowners. An article in the coalition’s publication, Fraud Focus, stated, “The subprime mortgage crisis is crushing untold thousands of homeowners under heavy mortgage payments they can’t afford, especially as many monthly payments adjust upward sharply after introductory teaser periods of low-interest rates.” Only a few suspected home torchings have surfaced so far. Samuel White allegedly set fire to his Houston home to collect insurance money and avoid a scheduled foreclosure. White, an African-American, also allegedly spray-painted racial slurs around the interior to deter officilas into believeing the incident was a hate crime. The insuran
- Last Post by: chrisper on 12/29/2007 @ 07:49 AM

shills

let's see who is quick to pick up on this one
- Last Post by: ML on 12/29/2007 @ 07:48 AM

HAVE EVER HEAR OF MI NOT COVERING A FILE?

PLEASE TELL ME AM NOT THE ONLY ONE ANY SUGGESTION?
- Last Post by: Perfect Fha on 12/29/2007 @ 07:38 AM

no co-borrower score?

Who will accept a coborrower with no scores other than Chase?? THANK YOU!!
- Last Post by: Perfect Fha on 12/29/2007 @ 07:35 AM

FULL DOC subprime ANYONE????

IN property 87% LTV full doc w/lots of assets $350,000 loan amount 514 mid fico 0 x 30 rate and term refi! DU said no no due to credit and LTV Looking for ANYTHING, any rate, PMI ok! What can you do for this borrower! Thanks in advance!
- Last Post by: Perfect Fha on 12/29/2007 @ 07:33 AM

Full Doc Question??????

I am doing a loan for a self employed borrower and need to know other than 1040's what other documentation suffice as a fully documented loan. I know with My W/E I use VOE's all the time, there has got to be another form of proof of income other than 1040's??? Come on Gurus help me out on this one.
- Last Post by: Perfect Fha on 12/29/2007 @ 07:33 AM

best sub prime lender

I haven't done a sub prime loan all year and all the lenders in this category disapeared. Who are you guys currently using. Senario is Iowa, rate/term refi, scores are (529, 539, 580), 85% LTV, no lates, Loan amount 106,250.00. Any help or ideas.
- Last Post by: Perfect Fha on 12/29/2007 @ 07:31 AM

100% financing in declining area/CA ANYONE!!!!

I HAVE A FIRST TIME BUYER,IN SAN DIEGO, 678 FICO,FULL DOC, LIMITED RESERVES, LOOKING FOR A 100% IN DECLINING AREA CONDO. PLEASE IF ANYONE STILL DOING THIS,WRITE ME BACK. THANK U
- Last Post by: Perfect Fha on 12/29/2007 @ 07:30 AM

Nobody shake hands with Mandyvilla!

I saw this on CNBC today and lmao! Mandy...I hope you are packing Purell these days! The video is long at 4:50 but the BofA part starts at 2:09 if you want to fast forward. Times are getting rough my friends. I guess they are saving up for the Countryslide take over. Enjoy... http://www.cnbc.com/id/15840232?video=616655042
- Last Post by: Mandyvilla on 12/29/2007 @ 07:08 AM

Looking for MD LO's to team up with

A well established brokerage in the Columbia MD area is looking to team up with some veteran LO's who are committed to winning in 2008. High splits, shared leads, nice office. This is my passion, I make a good living at it and have a strong desire to partner up with people who feel the same. Call my cell at 410-533-6071 and let's see if we can work together and make it a good year. Chris
- Last Post by: chrisb on 12/29/2007 @ 07:03 AM

Besides Equi First, Who does Bnk Stmts?

Besides Equi First, Who does Bnk Stmts? SFR
- Last Post by: MortgageMadnessInc on 12/29/2007 @ 05:59 AM

Bank statement program

Any one still doing these programs? FL, primary, self employed, refinance, rate & term, 645 middle. Thanks!!!
- Last Post by: tsevier on 12/29/2007 @ 01:16 AM

Webster Bank is gone

Just got the email, Webster Wholesale is gone. Not even on the Implode O meter yet. ************************************ Effective Date: December 28, 2007 Regrettably, due to current market conditions, effective January 8, 2008, Webster Bank will no longer accept new loan submissions in the Regional Wholesale Offices. All loans that have been locked or submitted on or before January 8, 2008, will be honored subject to the terms below. Webster Bank will, however, continue to offer you full operations support in the current Regional Offices to ensure underwriting, closing and funding of your loans. TERMS: 1) Last date of new loans locked or new registrations will be January 8, 2008. 2) Registered loans may be locked until January 23, 2008, utilizing 30 day or less pricing, and must be received by January 23, 2008. 3) No locks of any kind will be accepted after January 23, 2008. 4) By notice of this announcement, your Webster Bank Broker Agreement will be terminated after February 28, 2008, pursuant to the terms and conditions of the Agreement. We truly appreciate all of the partnerships we have established over the past years. Sincerely, James A. Wilson Senior Vice President Mortgage Banking *******************************************
- Last Post by: propertylender.com on 12/28/2007 @ 11:58 PM

Need idea for lead distribution

I will be providing 16 LO's with 2 internet leads daily. Before I invest in a CRM, can anyone suggest a manual method of maximizing efficiency & ROI? Here are my ideas. Feel free to comment: Mgr. assigns 2 leads daily. LO has 48 hrs. to make contact, take a pre-app or sell a deal. Upon receipt of lead, I am advising LO to: -call several times until contact is made -leave messages if unable to speak with prospect live -email prospect upon receipt of lead -mail 'thank you' card with business card enclosed question 1- If the original LO calls, emails, sends note card and can't sell deal in 2 days, what happens if the next LO in line sells the deal on the third day? question 2- how long would you recommend an LO hang on to the lead before returning to Mgr. for re-assignment question 3- who should database the lead under this system question 4- does this system make any sense? if not, what can anyone recommend? If I have to, I'll spring for a lead management system. any ideas? thanks
- Last Post by: ichibanbroker on 12/28/2007 @ 11:42 PM

Who is best for JUMBO STATED

Hello rate and term here 1.1 Million 70 to 75 LTV depends on how they hack my appraisal, SIVA has 200k in reserves, seasoned and sourced....
- Last Post by: angk720 on 12/28/2007 @ 11:20 PM

Loan Officers Learn How To Expand Your Business

How would you like to turn a "not a chance in hell" deal into a lifetime client? Incredible right!? The problem is our loan officers are talking to borrowers who want to refinance but can't because of lates (mortgage or consumer), fico score, tight guideline changes, no assets, no income...stuff like that. How can we turn this "ROACH" deal into gold? WE CAN NO LONGER JUST SELL DEBT, WE HAVE TO START OFFERING A SOLUTION! In the Financial Industry, there are 3 main sectors. Mortgages, savings/investments, and insurance make up what we call the MONEY Industry. What happens is the market is constantly changing and advisors are hopping from industry to industry, from investments to mortgage to insurance. No matter what, everybody will run into these things anyway once in there life. One day, you'll want to buy a house, you need to get a mortgage. One day, you'll have money (a lot or a little), you need to learn how to save and invest it. One day you'll have a family and you'll need to protect them, insurance! THIS MEANS EVERYBODY IS A CLIENT. The guy who owns the home, the lady at the grocery store who rents, your personal trainer, your car guy, everybody! A new industry is coming, one where if loan officers are only offering refinances and purchase loans (DEBT) they will go out of business. We are seeing that today. We have to learn to offer an array of products, from Debt Management to Long-Term Asset Accumulation, from Retirement planning to Estate Planning. Knowledge is Power. Person with more knowledge on all 3 main sectors of the MONEY industry will have more POWER! Please let me know what you think. God Bless, David Day
- Last Post by: DavidFRF on 12/28/2007 @ 11:18 PM

Lot Loans - Who has the Lot Loan?

I need a lot loan,, does anyone know where I can get them done? Nathan
- Last Post by: rad on 12/28/2007 @ 11:15 PM

What do I get if I win "Poster of the Year"?

Will I be 1099? Special posting privileges? The ability to ban members? Maybe a plane tick to see Racerx ;-)
- Last Post by: 1stintegritymortgage on 12/28/2007 @ 10:55 PM

Sierra Pacific

Who are they? What is their niche? THANKS.
- Last Post by: rad on 12/28/2007 @ 10:38 PM

San Diego Refinace

Please let me know if you can work with the following... California Refinance Primary residence Cash Out Refinance SFR SIVA- Self Employed 43% LTV Mid FICO is 780 New Loan Amount is 190000 Looking for a 30 year fix with a rate of 5.5%
- Last Post by: rad on 12/28/2007 @ 10:27 PM

top producing lo's and ae's 10k signing bonus

Wholesale Account Executive (WORK FROM HOME) Foreign National Loans http://brokerworld.ca/index.php?p=156 signing bonus upto 10k 90 days full benefits .25 basis points http://consumermortgagereports.ca/index.php?p=84 Call 1-866-983-7243 The Account Executive is responsible for contacting Canadian mortgage brokers and selling mortgage products and services. Responsibilities include: Contacting and setting up Canadian mortgage brokers Advise brokers of any changes to our loan programs, rates and/or policies Act as liaison between broker and our loan processing staff Assist in protecting our assets through careful review of broker activity Provide Regional Sales Manager with timely production reports Ensure all compliance regulations are met Successful candidates will have: One year of experience as a wholesale Account Executive or Top producing Loan Officer Consideration will be given to top notch retail sales performers. Must be self motivated and have a track record of being a top sales performer. Knowledge of state and federal lending regulations. Excellent verbal and written communication skills along with public speaking via webcam. Bachelors degree preferred. We are looking for Wholesale Account Executives nationwide to work from home on vontage line and company email........ Regional VP National Accounts Reps (25) Provincial Account Reps (10) We are also looking throughout the USA since it is a work from home position
- Last Post by: ttaylor1999 on 12/28/2007 @ 10:02 PM

Cash out stated 650 mid 75% cltv

trying to find a home for a cash out refi for a owner occ home here in Washington State. My client is Self employed with a 654 mid score, the loan amount will be $485,000 at 75% cltv with 100K of the loan as cash out if I can use the cash out for reserve great if not Stated Stated or NINA
- Last Post by: peter on 12/28/2007 @ 9:36 PM

29.5 MONTHS of Inventory In The OC!

April 15, 2010 is when your home should close escrow! According to the Orange County Register 12/28/07: "The California Association of Realtors reports that it would have taken 29.5 months to sell off all the single-family homes for sale in O.C. in November at the current sales pace. That’s 2.6 times longer than a year earlier. The inventory in November 2006 was 11.1 months. Few sellers are expected to wait 29 months to find a buyer. CAR’s “inventory” figure is a theoretical calculation based on how long it takes to sell all the current listings at the current sales pace. For example, if there are 3,000 homes on the market and 1,000 of them sell in a month, the inventory measurement is three months."
- Last Post by: peter on 12/28/2007 @ 9:32 PM

Any Answers of help?Have Helpful Hints too

I haven't been as active on the post as I used to be...to busy trying to get some business. I have read a couple recent posts that indicated that people just weren't as helpful as they used to be. So this post is dedicated in asking real questions that aren't unreasonable and stating a few helpful hints myself. Background-just under 8 years in the business, mostly as a loan processor, now full time loan officer. -Any lenders that can still do 6% seller paids at 100% Financing? -What is the lowest priced program for ltv's greater than 80% with 620-680 score with the new Fannie Mae price hits that are now effective as of 01/05/08. -Are the FHA Down Payment Assistance programs still allowed or not when involving seller paids? -How are you handling turn downs and possible pre-foreclosure borrowers? (I found if I cannot refinance them, my realtors can help with listing for them and it gives me ways to give them referrals and possibly help the owner with a pre-foreclosure short sale) -On December I had a Level 3 and Homecomings took it at 90% LTV with 615 score. -National City will do manual underwrites for r/t refi's up to 97% for 600+ scored borrowers under their own program at decent pricing. -General Mortgage based in Minneapolis, MN (correspondent wholesaler) can sometimes get refers turned into approve eligible or levels on their own proprietary system. -Keep adding assets with DU and run 1% under your rate you want to lock to get approvals Anybody else have any helpful hints or answers????
- Last Post by: jbrinson on 12/28/2007 @ 9:12 PM

$1.25m raw land loan needed--33%ltv-texas

who can offer a quick hard equity land loan with little upfront money as borrower does not have it--just enouph to pay for appraisal and some minor processing--this is a slam dunk daniel
- Last Post by: Yardape on 12/28/2007 @ 9:11 PM

best 30Y fixed. 40% LTV, FULL Doc, 780Fico?

This is a second home purchase, home value is $500k. Town home. Need a full doc 30 Y fixed, 780 fico, 40% ltv. who's got the best rates out there right now? R
- Last Post by: mj1133 on 12/28/2007 @ 8:49 PM

No Doc Loan

I have a borrower that I am looking for a No Doc Loan for, mid score is 727 it is on an investment property. Does anyone know of a lender?
- Last Post by: jestkikn on 12/28/2007 @ 8:21 PM

anyone know anything about Eagle Bank?

im looking for information about a branch setup w Eagle Bank. does anyone have any feedback to offer on them?
- Last Post by: mmuse on 12/28/2007 @ 8:14 PM

Happy New Year to all Loan Officers.

I wish to all loan officers health, wealth and success in 2008<font color="blue"></font id="blue">.
- Last Post by: racerx on 12/28/2007 @ 8:08 PM

live call every week night learn to earn $$$

LIVE PROSPECTING CALL Held EVERY WEEKNIGHT, AMERIPLAN LEARN TO EARN M-F, (6:55pm PST, 7:55pm MST, 8:55pm CST, 9:55pm EST) 620-294-4685 Pin 99477# Then go to http://mychampionteam.com/extra.php/JimW call me the next day Jim White 623-238-999
- Last Post by: Fastclosingloans on 12/28/2007 @ 7:30 PM

Mexico Developement Need Lenders

I have come accross a great source for Mexico Development projects. In my research I have seen a lot of broker and broker chains for the lending available. The three projects in my pipeline range from $38 MM to $69MM. 1st Project: Developer owns the land valued at $8MM and has a $4MM loan against it at 50% LTV for site prep, we now need to get a $41MM constructon loan for a 200++ unit condo project. We will be at 65% LTC and currently have 20%+ presold. Permits are in place and they are in the finishing stages of site prep. Need to secure this loan within the next 3 months. 2nd: This project is 500+ units Developer has land locked up but still needs to complete the purchase. Land purchase is roughly $3Mil and the development is roughly $20MM. Sales will total around $75MM for the entire project. I really am looking for the lender direct or no more that one between me and the lender. Also, I am looking for any reccomendations for the sales financing to the end user. I look forward to your responses.
- Last Post by: themoneybee on 12/28/2007 @ 6:40 PM

Appraiser needs help

I am writing on behalf of a friend of mine, an appraiser, who is looking to bring in some new clients (company's and Lo's. She is very fast, professional, and good on value without stretching. She also accepts credit card payments online through her website, which is www.ambersmithappraisals.com. If you are still in the biz, and have some clients in the Capital Beltway area,(maryland DC and Virginia) I would ask that you please give her a try. Her email is ambersmith@ambersmithappraisals.com and as I said she is looking to bring in entirely new clients with some kind of volume, and is open to volume discount pricing. Thank you for your consideration [:D]
- Last Post by: Cougar93 on 12/28/2007 @ 6:34 PM

80% LTV Purchase 672 FICO :: IN ESCROW!!!

672 FICO SISA / SIVA WAGE EARNER 80% LTV PURCHASE PRICE $550,000 LOAN AMOUNT $440,000 Investment Property, SFR, CORONA-CA Ready to close fast, please contact me ASAP! Brandon blocascio@gwmsolutions.com cell 951-837-8879 office 866-475-9096
- Last Post by: moneytime2007 on 12/28/2007 @ 6:25 PM

Did you hear about the kid that got a phone book

Go check out this story, and let me know what you think. Did you see it on the news? http://www.youtube.com/watch?v=waoFHBQwZsU If you can;t get it to come up, just type in "christmas phone book" on you tube. http://www.youtube.com/watch?v=waoFHBQwZsU thanks
- Last Post by: NegAm on 12/28/2007 @ 6:21 PM

Why doesnt everyone work together here?

One thing I have noticed is that a MAJOR problem exists on BO. The problem is that everyone is scrurrying around trying to find out what lender does what and you know why? Because even in the information age the lenders, ae's..etc are not really communicating. Instead of having up to the minute program updates and announcements no one knows what is going on. There are, however, a few people on this board who actually do respond a lot I notice. Can you imagine what the result would be if even 50% of the people on this board agreed to work together collectively? I know this is idealism because most people think that strength comes from within but it grows with synergy. I get so sick of seeing a person post a scenario and have to bump it up 5 times to get a response. I didnt know this industry was making that much money that we could ignore people. Then you have the ridiculous "lenderthis.com" or "advantagepricer.com" blah crap that charges you because the people who are all involved are so unaware that a great system is here and for free. Called Broker Outpost. If people started more intelligent threads and actually answered them, this board would surely grow even through the mortgage crisis. just my opinion.
- Last Post by: cwagner5 on 12/28/2007 @ 6:15 PM

Wamu's Agency Pricing Adjustment Changes.

Effective December 31st, 2007, Wamu Wholesale has made the following pricing adjustment changes: Description The new pricing adjustments are listed below and will be reflected in the Pricing Guides on the effective date. Adverse Market Delivery Fee of 0.25% to points The following Low Loan Amount adjustments apply: &lt;$50,000 +1.00 pts $50,000 - &lt;$100,000 +0.50 pts $100,000 - &lt;$150,000 +0.25 pts Note: All loans with Low to Moderate Income Borrower (LMIB) applicants are excluded. High Loan Amount discount $300,000 – Conforming limit* -0.25% pts * Conforming loan limit varies by number of units and geography Add 0.50% to points for the following: q Owner-occupied 3-4 units q Non-owner-occupied 2-4 units q LTV &gt; 90% Impacted Products The following products are impacted by one or more of the pricing adjustment changes above: q Conforming fixed rate mortgages (FRMs) q Conforming Hybrids (amortizing and Interest Only [I/O]) q WaMu Community Access™ Home Loan q Expanded Approval Note: Refer to the Pricing Guides for details. http://us.f348.mail.yahoo.com/ym/ShowLetter ANY ONE KNOWS OF ANY LENDER WHO IS NOT REFLECTING RISK LEVEL ADJUSTMENTS INTO THEIR PRICING FOR JANUARY, 2008? Thank you. Peter
- Last Post by: rad on 12/28/2007 @ 6:04 PM

c/o refi O/O in FL--2 million--pls help

O/O detached SFR in FL--AVM=2 million FICO low 700's seeking max c/o refi OR second (there is currently a 950K first & a 250 HELOC which would be paid with new loan) Can anyone help with this? Thanks in advance! **EDIT** Borrower needs to state income
- Last Post by: BigFire on 12/28/2007 @ 5:39 PM

need lincense in oregon

i need a direct lender that has a bank in oregon no world saving i talk to them already.
- Last Post by: BigFire on 12/28/2007 @ 5:38 PM

neg am 70% 4plex siva 725 fico investment CA

who does neg am 70% 4plex siva 725 fico investment CA and not world (wachovia)
- Last Post by: BigFire on 12/28/2007 @ 5:37 PM

Refi in GA 65% LTV!

SF/PR $130k Loan 65% LTV SISA 680 Fico R/T GA property 7 mos seasoning! Thanks guys. Keith 310-734-6943
- Last Post by: myvision on 12/28/2007 @ 5:35 PM

This what happens when you steal Baby Jesus!

It's not the wrath of God but close! http://www.palmbeachpost.com/localnews/content/west/epaper/2007/12/28/m1a_BABY_JESUS_1228.html
- Last Post by: NegAm on 12/28/2007 @ 5:21 PM

Max Ltv cash out 656

I have a client in alaska with a 2nd home she needs max ltv cash 656 business owner full doc 12 months bank statements help plese
- Last Post by: CreditRepGal on 12/28/2007 @ 5:10 PM

604 FICO bank statements

Can anyone do 604 FICO 24 bank statements Owner Occupied Texas purchase or refi?
- Last Post by: CreditRepGal on 12/28/2007 @ 5:07 PM

Tough times, can anyone help?

I am writing on behalf of a friend of mine, this really nice trainee who will soon have a license and s looking to bring in some new clients (company's and Lo's). She is very fast, professional, Fair Market Values with out stretching. She also accepts credit card payments online through her website, which is www.ambersmithappraisals.com. If you are still in the biz, and have some clients in the Capital Beltway area,(maryland DC and Virginia) I would ask that you please give her a try. Her email is ambersmith@ambersmithappraisals.com and as I said she is looking to bring in entirely new clients with some kind of volume, and is open to volume discount pricing. Thank you for your consideration
- Last Post by: n/a on 12/28/2007 @ 4:48 PM

need HELP!! 605 FICO--90%ltv --75%dti...Possible?

SFR Primary Residence WASHINGTON Fico Score: 605 Doc Type: FULL DOC (but considering his DTI WE can go SIVA IF IT MAKES MORE SENSE) Rate/Term Refinance Property Value: $220,000 New Loan Amount: $195,000 (cash out of $25,000 included) Wage Earner Liquid Assets: $35,000 Gross Monthly Income= $4,500 Job Title=Graphic Technician (25 years +) LTV: 90% DTI: 75%
- Last Post by: CreditRepGal on 12/28/2007 @ 4:47 PM

NOO SIVA Cash Out Refi 80% LTV - 10+ Properties

We have a real need for SIVA investor programs out here. Everyone has agency NOO products, but I want to hear from the reps that still have a unique 80% LTV NOO cash out refi product. I am specifically looking for those NOO programs that will allow for more than 10 or 20 financed properties. Let's help each other through this mess. Thank you all!
- Last Post by: questfunding on 12/28/2007 @ 4:33 PM

GLOBAL MORTGAGE WILL NOT PAY ME!!!

Two other branchs and I were wrongfully terminated by Global Mortgage and are possibly filing a law suit. But, they did not pay me for the last loan that I closed with them. the other branch managers are also waiting on funds from Global. Does anyone have any suggestions besides a law suit to get the money? Thanks
- Last Post by: taz90444 on 12/28/2007 @ 4:24 PM

Stand Alone 2nd - 640 Score Full Doc - 92% LTV

Are there any lenders that have a stand alone 2nd (closed end or HELOC) program for borrower w/ 640+ score. 1st is $395k, value is $480k. Loan amount is $50,000 and will pay off an existing $25,000 2nd TD.
- Last Post by: questfunding on 12/28/2007 @ 4:23 PM

Anyone do hard money refi's on SFR 2nd's??

I need to fund a refi on a 2nd for a single family residence. Please help me if you can or know someone that can. Loan amount: 100k CLTV: 75% Home value: $1.3mm 800 fico full doc willing to cross with $800k in stock 6 month term<b></b>
- Last Post by: questfunding on 12/28/2007 @ 4:18 PM

100% Commision

I have seen all these companies offering 100% commission. One of those companies is Ascent Home Loans. Is there anyone on this website working for them, and are the rates competitive? Do they hold out any hidden fees? Are there any other banks offering a true 100% commission?
- Last Post by: nci1 on 12/28/2007 @ 4:17 PM

660 Fico 850K Ln Amt 53% LTV Sisa no MTG lates

Anyone know who will do this loan scenario CASH OUT other than Hard Money.
- Last Post by: peter on 12/28/2007 @ 4:13 PM

Super Jumbos

I have 784, 38% LTV, cash out of 900K, owner occ, SFR, SIVA loan amount of $1,500,000. Who will do this loan besides ALS and CITI?
- Last Post by: rainmand on 12/28/2007 @ 4:12 PM

100% CLTV Subordination

Are there any shops that allow 100% CLTV 2nds to be subordinated behind their 1sts? FHA allows something like this, no? Any other shops?
- Last Post by: ncassidy on 12/28/2007 @ 4:10 PM

Wamu's Agency Pricing Adjustment Changes.

Effective December 31st, 2007, Wamu Wholesale has made the following pricing adjustment changes: Description The new pricing adjustments are listed below and will be reflected in the Pricing Guides on the effective date. Adverse Market Delivery Fee of 0.25% to points The following Low Loan Amount adjustments apply: &lt;$50,000 +1.00 pts $50,000 - &lt;$100,000 +0.50 pts $100,000 - &lt;$150,000 +0.25 pts Note: All loans with Low to Moderate Income Borrower (LMIB) applicants are excluded. High Loan Amount discount $300,000 – Conforming limit* -0.25% pts * Conforming loan limit varies by number of units and geography Add 0.50% to points for the following: q Owner-occupied 3-4 units q Non-owner-occupied 2-4 units q LTV &gt; 90% Impacted Products The following products are impacted by one or more of the pricing adjustment changes above: q Conforming fixed rate mortgages (FRMs) q Conforming Hybrids (amortizing and Interest Only [I/O]) q WaMu Community Access™ Home Loan q Expanded Approval Note: Refer to the Pricing Guides for details. http://us.f348.mail.yahoo.com/ym/ShowLetter
- Last Post by: peter on 12/28/2007 @ 4:05 PM

26 States lending, License Free, state charter,

<font face="Times New Roman"><font color="red"><font size="3">States we lend in: Illinois, Indiana, Nevada, Georgia, Texas, Ohio, Florida, South Dakota, Oregon, Virginia, Missouri, South Carolina, Michigan, Louisiana, Mississippi, Delaware, Alabama, Iowa, North Carolina, Minnesota, Washington State, Nebraska, Colorado, Kentucky, Pennsylvania, Alaska (CA. AZ. & WI. Pending approval) States we do FHA in: Illinois, Michigan, Indiana, Missouri, Kentucky, Iowa I have FHA training materials available & Reverse Mortgage training, just ask! A Lenders: Aurora Loan Services, CitMortgage, Countrywide, Flagstar, Franklin American, Homecomings, ING Direct, National City, Taylor Bean & Whitaker, Washington Mutual, Wachovia, Wells Fargo B-C Lenders: Argent(Now Citi Residential Lending), Countrywide, Equifirst, First Franklin, Option One Please contact me for the specific lenders niche sheets or to learn more about this Unique, “STABLE” and Alternative Banking Opportunity! (Net Branch and Team Leader opportunities immediately available with little or no overhead) Spencer Wade- Senior Mortgage Banker/ Team "Swade" Leader Pan American Mortgage (Div. of Pan American Bank) 773-419-3636-cell / 866-844-6385-fax / 773-777-8290 x 206-Office www.panamlending.com (Mortgage Website) www.panamerbank.com (Banking Website) www.parealtygroup.com (Real Estate Website) </font id="size3"></font id="red"></font id="Times New Roman">
- Last Post by: swade on 12/28/2007 @ 4:03 PM

Homecomings Financial

Did anyone else hear that Homecomings Financial shut their doors today? The office in Parsippany, NJ, who did great numbers just closed their office today. They are owned by GMAC who appears to be getting out of the wholesale game. Scary!!
- Last Post by: servicefirst on 12/28/2007 @ 4:02 PM

jumbo 100% anybody????

Is anybody doing Jumbo to 100% I know Chase will do the 80 and allow a 20 but an outside 20. Does anyone know who will do this? Thanks for the help
- Last Post by: brandons101 on 12/28/2007 @ 3:51 PM

Need Help with a Business Loan -

My client wants to buy the business he works for. It is a springs company, such as those used to raise 4x4 trucks. The price is currently at 250k and it's a corporation. Can anyone help me with this transaction- Thanks! richard@newcapitalinvestments.com
- Last Post by: swmsn on 12/28/2007 @ 3:44 PM

Commercial Investment Multi-Unit

What is the highest LTV on a purchase anyone can offer? Scenario: 1st time investor Indiana property 8 Unit--Fully occupied 760 Fico w2 employee w/reserves $170k listed price Thanks in advance, Alex
- Last Post by: kenvphan on 12/28/2007 @ 3:44 PM

Need Help with a Business Loan -

My client wants to buy the business he works for. It is a springs company, such as those used to raise 4x4 trucks. The price is currently at 250k and it's a corporation. Can anyone help me with this transaction- Thanks!
- Last Post by: swmsn on 12/28/2007 @ 3:42 PM

SBA loan for start-up

Could anyone refer an SBA lender that he/she knows would make a loan for a start-up in the hospitality business?
- Last Post by: brandons101 on 12/28/2007 @ 3:41 PM

need lincense in oregon

i need a direct lender that has a bank in oregon no world saving i talk to them already.
- Last Post by: nol2cher2 on 12/28/2007 @ 3:38 PM

Jumbo Loan

Looking for a lender who will do a jumbo loan with MI... 450K Loan Amount Full Doc 90 LTV 680 FICO SFR / OO Contra Costa County - Declining Market!?!
- Last Post by: re_manager on 12/28/2007 @ 3:37 PM

A Paper 709 FICO 80% SISA NOO

Can anyone help? Need an 80% LTV rate and term stated refinance 709 FICO Non Owner Occupied. Thanks, Marc marc@capitaldirectlending.com
- Last Post by: manwithaplan on 12/28/2007 @ 3:35 PM

Intel Marketing LLC

I got a call from a lead company, Intel Marketing. They claim they guarantee 10% of their leads will close or you get ALL of your money back. Has anyone used these people? I sent them a check (not so smart) and got an email that same day from a nice gentleman warning me they were dishonest. I was able to get the check stopped and have not heard anything further. Has anyone else had an experience with this company?
- Last Post by: RyanA on 12/28/2007 @ 3:34 PM

SunTrust cuts 5% LTV in FL & CA

I could see declining markets (duh)... but everywhere? There are still pockets where values (in CA) are still maintaining themselves. Nevertheless, they can do what they want to do, it's their money. <i>UPDATE TO THE SUNTRUST DECLINING MARKETS POLICY AND THE SUNTRUST MORTGAGE DECLINING MARKET INDEX – Effective Wednesday, January 2, 2008 Due to current conditions in the capital markets and declining property values in many areas across the country, SunTrust Mortgage has implemented updates to the SunTrust Declining Markets Policy in order to better align SunTrust policy with Agency, Mortgage Insurers and non-Agency investor guidelines. Based on communications issued by Freddie Mac, Fannie Mae and Mortgage Insurers providing guidance regarding prudent lending in declining markets, which include appraiser responsibilities, lender responsibilities on appraisal quality, restrictions to maximum financing, underwriting expectations, etc., SunTrust Mortgage has updated our policy for declining markets as stated below. It is imperative that all Brokers and SunTrust Wholesale personnel involved in underwriting appraisals, read and become familiar with these guidelines. The SunTrust Declining Markets Policy focuses on two primary areas: • A thorough review of the appraisal to ensure the value and marketability of the collateral is substantiated, and • A reduction of maximum allowable LTV/TLTV for the product or program by 5% in declining markets regardless of AUS findings. <u>Note: All properties in the states of Florida and California are subject to a 5% reduction in maximum LTV/TLTV regardless of location in a declining market.</u> Under SunTrust policy a declining market may be identified in the following ways. If the property is identified as being located in a declining market in ANY of the three ways, the SunTrust policy will apply. • If the appraiser marks “declining” in the Property Values section of Page 1 of the appraisal and/or makes comments referencing declining values, OR • If DU returns a warning that the property is located in a declining market. “The subject property has been identified as being located in either an area of declining home prices or in an area where it may be difficult to assess home values…,” OR • If a property is in an area listed on the SunTrust Mortgage Declining Market Index list.</i>
- Last Post by: mwfan55 on 12/28/2007 @ 3:32 PM

refi rolling 30 80%

What non subprime lenders will do this loan: refi rate term O/O sfr 80% ltv 621 score full doc dti 54% 2/07-30 1/07-30 12/06-30 11/06-30 mortgage lates
- Last Post by: AP at CITIRL on 12/28/2007 @ 3:31 PM

Condo Conversion

Hello All, My company currently holds a private 2nd mortgage on a property that the borrower is converting from a 2 unit multifamily to 2 seperate condominiums. I am assuming causing a new APN to be issued. What then happens to the existing liens? Are they split equally between the 2 parcels? I have never run into this before. I'm sure someone can enlighten me though. Thanks.
- Last Post by: Henry_Sun on 12/28/2007 @ 3:24 PM

100% Full Doc NOO 740 FICO

looking for 95% - 100% refinance on investment property 5 years ownership 60k-65K loan amount 740 FICO w2 wage earner anyone
- Last Post by: swmsn on 12/28/2007 @ 3:19 PM

FHA Quality Control Plan

I am in the process of getting FHA approved. I believe I have a good start to one. I just went by FHA's checklist. However, I want it to go through smoothly. Does anyone have a sample quality control plan I can just look at? Or can you direct to somewhere I can find one? I know there are comapnies out there who will do it for you, but until I see one that will go through, I think I can do it and I havea good start to one. Any help would be appreciated. thanks in advance
- Last Post by: hmetcalf on 12/28/2007 @ 3:17 PM

SECONDS!!!!

Will anyone touch this??!!!?? Purchase 711 fico SFR CA Owner Occ. 800,000 1st... SIVA Anyone do a $100,000 2nd....CLTV 90%
- Last Post by: swmsn on 12/28/2007 @ 3:14 PM

Anyone use.........for leads

reallygreatrate.com Spoke to their rep, nice guy, knows a lot. Anyone use them? Sorry have to do my research. Thanks Have a happy new year!!!!
- Last Post by: dkendall1979 on 12/28/2007 @ 3:09 PM

Need Help on this now!

80% purchase IL SFR 715 fico 2.4 Mil PP 1.92 Mil loan amount Full doc (2years business and personal tax returns) and bank statements of VOD for assetts Have appraisal,credit, loan app. and a ready willing and able buyer. Here's the issue. Borrower recently purchase another home valued at 1.7Mil and has it rented to 2 people from his company. I have affadavit from that closing showing it was purchased for investment property. Most lenders I have spoke to want 2 year history of landlord to use the rental income which is 10,500. Without that income his DTI is pushing 48-53
- Last Post by: bigtnorange on 12/28/2007 @ 3:08 PM

Credit Suisse Commercial

Does anyone have a contact for Credit Suisse commercial division? Thanks
- Last Post by: dkny on 12/28/2007 @ 3:01 PM

ING Approved Brokers in Northern California

Please email me. Thanks,
- Last Post by: berny on 12/28/2007 @ 3:01 PM

motel refi--75-80% financing-$400k loan size

BORROWER WITH EXCELLENT CREDIT LOOKING AT REFINANCING THERE 15 UNIT MOTEL IN Heppner Oregan--zip is 97836 IT IS OWNER OCCUPIED AND HAS BEEN OWNED FOR OVER 5 YEARS-- IS 11,872 SQUARE FEET ON .27ACRES/AND OR A QUARTER OF AN ACRE THEY OWE $270K VALUED AT $510K(BASED ON APPRAISAL THAT WAS DONE 4 MONTHS AGO--WHICH THEY WOULD LIKE TO USE) IS AN NON-FLAGGED INDIPENDANT MOTEL LOOKING FOR A LOAN OF AROUND $400K--GOING 75-78% LTV LOOKING FOR A 20 YEAR FIXED RATE IF POSSIBLE TOWN OF 1500 PEOPLE--BUT IS VERY POPULAR PLACE FOR OUTDOOR/HUNTING AND THERE IS A NASCAR FACILITY THEY ARE BUILDING ACROSS THE STREET THEY ARE THE ONLY LODGE IN TOWN NEED THE MONEY TO PAY BACK THE DEBT THEY INCURRED RENOVATING THEIR PROPERTY WHICH THEY SPENT CLOSE TO $60K THEY WERE SKEPTICAL ABOUT GOING FULL DOC AS THEY PUT A LOT OF MONEY BACK INTO THE BUSINESS--...ETC FOR TAX REASONS--BUT GROSSED OVER $200K LAST YEAR--WHICH MORE THAN COVERS EXPENSES THEY ARE LOOKING FOR A HALF DECENT RATE AS THEY HAVE A 7.5% RATE CURRENTLY--AND DO NOT WANT IT TO JUMP TOO HIGH WHAT CAN YOU DO FOR ME???!!IN TERMS OF RATES/FEES AND YSP??
- Last Post by: knagi on 12/28/2007 @ 3:00 PM

ny coop lenders

who are the new york co-op lenders i need one 550 score 23 percent down stated income verfied assets
- Last Post by: swmsn on 12/28/2007 @ 2:55 PM

anyone know who do 3 months seasoning

FICO SCORE: 722 FULL DOCS SFR O/O LN AMT: 525K LTV: 80% HOUSE PURCHASED IN AUCTION...WANTS TO GET CASHOUT.
- Last Post by: jkennedy1234 on 12/28/2007 @ 2:53 PM

NOO Properties

Looking for max LTV on stated and full doc. Please help!! Thanks!
- Last Post by: jcallanan on 12/28/2007 @ 2:46 PM

90% FD investor loan

Who has a 90% investor purchase full doc, SFR for borrower with 693 mid score that does not require 2 years landlord experience.
- Last Post by: moneytime2007 on 12/28/2007 @ 2:40 PM

Lender Required .

SIVA Score:779 Investment Property LTV:80% Loan Amount:362000
- Last Post by: AP at CITIRL on 12/28/2007 @ 2:33 PM

Sub Prime all but gone? Really?

I read various posts that say things like "Sub Prime is all but gone." This strikes me as interesting because we have brokers running scenarios through our Sub Prime (and Hard Money) lender PreQual engine database every day, placing and closing deals. Do brokers say this because there aren't as many Sub Prime lenders as there used to be or because it's too hard to get a deal closed? Or is there a mindset out there that brokers should "avoid" Sub Prime at all costs simply because there is a perception that it's not as "easy" as it once was? Some of our brokers have said things like this to us because they couldn't get in contact with their AEs for program qualification related answers (which is why they use brokerlenderlink.com instead!). This topic is interesting to me because, clearly, the Sub Prime borrower still exists! When I interview our clients, it seems our users are well aware of the market opportunity that exists by staying on top of Sub Prime while most of the other brokers avoid it. What are your thoughts? In case you're curious, here is our Sub Prime and Hard Money Lender List as of 12-26-07 (there are 67). Who are we missing?: 1st Choice Equity Funding Accu Funding Accredited Advantage Capital Equity Solutions AFC Hard Money Alternative Lending Solutions AMX Banco Popular Bear Stearns Bluefields Capital Bridgelock Capital Charter Bank Chase Citi Clearvue Capital D&R Fin. DFI Funding Emerald Isle Lending Equifirst Essex Wholesale First Franklin First Mount Vernon Industrial Loan Association First NLC GMC Mortgage Capital Gordon Lending Greenlight Funding Gregory Funding Guaranteed Rate Heartford Financial Services Heartland Homewide Lending Imperial Lending Integrated Equity Management Group Ion Capital Lend Source LJL Funding Maitland Mtg. More 2 Lend Fin. Mortgage Solutions Management Mountain Range Funding New South Federal Newmark Lending No Red Tape Novelle One Choice Mortgage P.B. Financial Group Point Center Financial Preferred Capital Raymond C. Green, Inc. Residential Capital Roman Capital Group Saxe Mortgage Company SBB Financial Standard Equity Funding Superior Mortgage Titan Hard Money TLP Funding Tower Mortgage Capital Trust Deed Investments Trust One Mortgage United Residential Lending USA Funding USBank Vantage Capital Westar Funding Wilmington Windstone mortgage Corp.
- Last Post by: Keeysturn on 12/28/2007 @ 2:33 PM

Rate-Term Condo Tel

Please help with the lender name for refinancing CONDO TEL PROPERTY TYPE: CONDO TEL LTV: 47% TX Rate-Term DTI 22% FICO: 644 URGENT
- Last Post by: ceejay123 on 12/28/2007 @ 2:27 PM

Need help placing loan

Does anyone know who can do this loan? Jumbo loan amt ($431k) Cash-out Stated income 675 Fico BK discharged just over 3 yrs ago O/O - SFR 79% LTV I keep hitting the wall on this one unless I want a super high rate. Thx!
- Last Post by: nikkisalei on 12/28/2007 @ 2:26 PM

Uh-Oh...There's That "R" Word Again

http://biz.yahoo.com/ap/071228/economy.html
- Last Post by: n/a on 12/28/2007 @ 2:18 PM

Vertice Lending?

Anyone use them and care to share your experience with them? It looks like they are a division of wachovia. Thanks
- Last Post by: Vickivh on 12/28/2007 @ 2:17 PM

SISA w/ 744 score. Shouldn't this be easy?

Scenario; California property, Primary residence. LP approval (Can't get DU) 85% LTV SISA 774 score 330k loan amount. The challenge that I'm having is that they don't have many trade lines and only two scores. 750 & 744. Any suggestions?
- Last Post by: AP at CITIRL on 12/28/2007 @ 2:11 PM

Looking for lenders that fund EA1's below 550

EA1 L/A 390,000 Value 650k Fico 541 Cash Out 60% LTV. Full Doc 9500 in assets 30 year fixed
- Last Post by: Captain Mortgage on 12/28/2007 @ 2:02 PM

Declining Market Question: HomePossible vs. MCM

After Jan 15 fannie re-instates it's 5% ltv cut in declining markets. Does anyone know if HomePossible/ Freddie Mac will be cutting LTV's and if any lender will do 100% home possible loan in a declining market?
- Last Post by: danielgrunauer on 12/28/2007 @ 1:58 PM

option arms

What lenders are offering optoin arms. I usually go to wachovia, but I just want a back-up.
- Last Post by: jestkikn on 12/28/2007 @ 1:56 PM

Construction/lot loan

Looking for a lender to do a construction loan that includes the purchase of the lot. Full doc, excellent credit. Always went to IndyMac on these in the past but they will no longer do lot loans.
- Last Post by: coopercash on 12/28/2007 @ 1:52 PM

Manufactured Home Purchase

Here is the scenario... California Purchase Primary Residence Manufactured Home SIVA 80% LTV Borrowers mid FICO is 714 Home is on permanent foundation and on land.. Loan amount is 348000
- Last Post by: ambergonzalez26 on 12/28/2007 @ 1:46 PM

3 UNIT 90% SIVA Jumbo

Any lenders doing the following? 700 FICO 90% LTV 3 UNIT O/O Rate/Term 675K Loan SIVA - Wage Earner CA
- Last Post by: Visionary on 12/28/2007 @ 1:41 PM

80% NOO purchase stated 700 scores

Hi All Purchase 600k non owner occupied 80% first TD 480k 730 score stated income - verified assets (300k) sfr in Los Angeles Thanks in advance
- Last Post by: skyviewmtg on 12/28/2007 @ 1:39 PM

What is short sale/

What exactly is a short sale? Does anyone have a simple description of what this is? Thanks so much SkYe skye.securedre@gmail.com
- Last Post by: KellyVanguardNM on 12/28/2007 @ 1:35 PM

REALTORS advise Client to ignore Pre-approval

http://www.realtor.org/rmomag.NSF/pages/feature5jan08?OpenDocument
- Last Post by: mganovsky on 12/28/2007 @ 1:34 PM

95% SIVA - 667 FICO- owner occ.

this is a purchase - 95% LTV owner occ SIVA primary residence. 350k loan amount. 60k in assets. jonwfg@gmail.com
- Last Post by: WAMUEM on 12/28/2007 @ 1:33 PM

Nebraska

Can someone help me out with the income limits or the my community neighborhoods of NE. I have a borrower who will have income of $85,500 this last year (4 people in the household, 2 wage earners). They are looking in the Papillion, Millard (Sarpy County side of Millard), and Bellevue areas. I am not from NE and know very little about it so if anyone has any insight on Fannie neighborhoods and income limits it would be greatly appreciated.
- Last Post by: Shuggins on 12/28/2007 @ 1:32 PM

HELOC anyone do 1 yr tax return and no seasoning?

Client only has 1 yr tax return and 650 fico...no seasoning on title.... 85%ltv 2nd/heloc .....anyone?
- Last Post by: ticgroup on 12/28/2007 @ 1:29 PM

Massachusetts

I feel bad for those in Mass that are having problems with the Mass. communistic government, Stay strong and figure out a way to navigate through! This very well may be a nationwide thing some day, and would like any input you guys and girls in the trenches have.
- Last Post by: LT4 on 12/28/2007 @ 1:27 PM

Hard Money to 70%?

Looking for a hard money lender who will go up to 70%, full doc, for a 350 sq ft condo in South Beach FL? The LTV has to be based on the appraised value not the contract price. Thanks
- Last Post by: mainemortgageguy on 12/28/2007 @ 1:23 PM

Anyone besides Chevy Chase or World??

I am looking to do an option arm. 80 FICO, 65% LTV, Stated Owner OC. The client is self employed (day Care Owner). Can anyone else help?? Thanks
- Last Post by: lucky1s on 12/28/2007 @ 1:21 PM

first time home buyer domain name

I'm going to let my URL, www.first-time-home-buyer.net go . If this is your niche, it'll work well for you. In the past on Broker Outpost, I've given away my URL's that I wasn't interested in for free, and made the recipient promise they'd develop a website with it within 6 months if I let them have it. Everybody said "yes, they would", but nobody did it. Probably because they got it for free. I'm feeling they would have felt differently if they earned it, or paid for it. So this time I'm doing it differently. If you'd like to purchase it from me, let me know via email. I'm asking $200 for it. Not much, but it'll be more meaningful to you since it wasn't free. The email address is raymond@reversemortgagelender.org
- Last Post by: rainmand on 12/28/2007 @ 1:14 PM

90% C/O Refi - Sub Prime!

Have a tricky loan - help! 90% cash out refi owner occupied Oregon JUMBO - $522,000 Stated income - not self employed. 600 score Anyone know anyone who might touch it? Thanks a million!
- Last Post by: simcalister on 12/28/2007 @ 1:02 PM

Hard Money in WI 65%

I need a hard money lender in WI...65% LTV...Rural...7 acres...12-18 months banks statements as full doc...$175,000 value...$113,750 loan amount...467 mid credit score...Land contract refi.... PLEASE EMAIL me ASAP!
- Last Post by: ajlane on 12/28/2007 @ 1:01 PM

Stated Income Stated Assets

Do anybody no any lenders that will do a stated stated at 100% with the borrower fico at 700? All help is gladly appreciated.
- Last Post by: dpm on 12/28/2007 @ 1:00 PM

SIVA cash out 719 MID

Whats the max LTV I could get on a SIVA cash out? Primary residence, SFR in Fla. FICO is 719.
- Last Post by: Acp001 on 12/28/2007 @ 12:47 PM

Unsecured Lines of Credit

Hello ya'll I'm looking to start submitting applications with one of the BO members that can help get unsecured lines of credit for borrowers. I just wanted to know if any of you ever done any of these unsecured lines of credit??? if so how easy are they (or tough), how long did it take, how much did you get and what kind of service and interest rates were you able to get on you rscenario. Please share since I have no doubts other BO members are probably on the same boat as myself... Thank you!
- Last Post by: visionmtg on 12/28/2007 @ 12:44 PM

Can we help you close just 1 more deal in 2008?

www.BrokerLenderLink.com The world's ONLY Sub Prime and Hard Money automated Boolean Rules pricing and qualification engine. Our Boolean Rules Engine contains over 10mb of lender Underwriting Guideline, Risk Grade, Pricing, Adjustment, Prepay, and Ysp data -maintained 24/7/365, representing 68 investors (as of 12-28-07). Other sites you've seen don't do it this way. Why? So far, BrokerLenderLink.com has cost $3 million in design, programming, data entry, and data maintenance. The RIGHT WAY is technically challenging and very expensive. If we help you close just one more deal, or maximize the ysp on just one submission, an entire year's subscription more than pays for itself! To learn more, read BO Announcement Post: "Rules Engine vs Aggregator: No contest!!" "Post my Scenario, Wait for AE Response? Heck No!!" "Is the pricer and Aggregator? Why should I care?" See our Mega Engine in action. Go to www.brokerlenderlink.com and click "Try it Now -Free!"
- Last Post by: bllinc2002 on 12/28/2007 @ 12:42 PM

neg am 70% 4plex siva 725 fico investment CA

neg am 70% 4plex siva 725 fico investment CA and not world (wachovia)
- Last Post by: Boblending on 12/28/2007 @ 12:32 PM

Hard money lender, Wyoming 50% LTV

I have a lady in Wyoming who has a property Free & Clear, Owner-Occ. She needs to pull out cash to payoff debts & do some Home improvement. I need a hard money lender who will take this, her credit scores are aroun 475. Property appraised at $150,000 and we are at 53% Any Help would be greatly appeciated.
- Last Post by: acalryke on 12/28/2007 @ 12:32 PM

Loan Officers and Small Companies

Is running your office starting to Run you? Are you focusing too much time on administrative issues and not enough time originating or recruiting? Are the cost’s of running the office draining your profit? With the “My Mortgage Company“ program powered by Pacific Financial you: Run your office the way YOU want. Hire the people YOU want. Market the way YOU want. Originate the way YOU want. Work the hours YOU want. <b>We handle:</b> Back Office support Payroll Workers compensation Employees Benefits Licensing Support multi states available Lender Approvals AR/AP Compliance Record retention <b>Origination Support</b> Direct Lender with Top A and Alt-A Investors: Countrywide IndyMac Citibank Bears Stern Chase Manhattan Flagstar Bank HUD (FHA and Reverse) Benefits Include: In house loan documents Priority Underwriting Elevated Relationships Ability to originate wholesale or retail No need to disclose YSP Proprietary Pricing Engine Matches program with lender guidelines and gives you price indication in seconds rather then hours or days. Virtual Office (Remote Access) Log in to the office anywhere there is an internet connection. Access to your desk top, email and programs just like you are at the office. Loan Applications Credit Reports Processing software Pricing engine AUS systems Marketing pieces Lender list Email <b>Knowledgeable support</b> Active President and CEO with over 20 years experience in Real Estate Sales and Real Estate lending. Our processors average 10 years in mortgage lending. In today’s market you need more then just a lender, you need the know–how to put your transaction together. <b>Sales Support Training</b> In house training in sales and motivation for you and your staff. Niche marketing ideas <b>States Currently Available</b> If you don’t see the state you need let us know we can probably add it. California - Dept. of Corp. Lic# 6037583 North Carolina - License #122495 (originators need individual license) Washington - License #602 271 568(originators need individual license) Exempt in the following states: Alabama, Alaska, Arkansas Colorado, Florida, Hawaii, Iowa, Indiana, Kentucky, Louisiana, Missouri, Mississippi, Montana, Nevada, Ohio, Oklahoma, South Carolina, Texas, Tennessee * for more information call Bill 818/591-2580 * state licensing requirements and exemptions are constantly changing
- Last Post by: bmoran on 12/28/2007 @ 12:29 PM

Anyone do 1 yr self-employed?

I have a nurse that has been getting 1099 for 1 yr and before that she was W2. What lender will do 1 yr self-employed?
- Last Post by: liverichly on 12/28/2007 @ 12:20 PM

Best Rates?

I've been looking around and it seems like no one can be Flagstars pricing. They're quoting me 6.375 with 2.095 on the back...anyone know who's pricing is stronger?
- Last Post by: mj1133 on 12/28/2007 @ 12:11 PM

FYI: judgments against your clients can be bought!

Hi Everyone, I want to share with you guys a story that might be beneficial to some people on this site. About 3 months ago I had a client with an outstanding money judgment against them for $35000 that was 2 years old and the judgment creditor never got paid by my client. Hence the judgment had been on my client's credit report causing a lot of havoc and preventing my client from borrowing money. At first I decided to trash the lead because there was noting I could do but then I accidentally came across an ad in a local newspaper about a company that buys money judgments. To cut a long story short I referred my client to them, they got the judgment creditor to sell the judgment to them for $3500, I repeat $3500 (since the judgment creditor had given up hope ever collecting on the old judgment, I guess to them it was a deal). Anyways they then offered my client a chance to pay them off on the judgment for $7000. The took $4000 cash from my client, filed a satisfaction of judgment with the county and then had my client finance the other $3000 for a monthly payment of $25. How convenient is that. Now my client has the judgment satisfied on their credit report and I was able to get him the money he needed. What I am sharing with you guys is priceless, just think of the leads we are throwing away because we think we cant help them, email me at "mcgab3438@gmail.com" and I will gladly give you the company's information.
- Last Post by: assassin17 on 12/28/2007 @ 12:07 PM

CARWASH Purchase(NO REALESTATE), sba 7a

Ok ive got a file for Business purchase for 2.4MM 1.6MM loan amount 500K down Payment 300K seller carry This is business only purchase. NO REAL ESTATE AT ALL. Property is 2004 built. Anaheim Hills, currently grossing at 1.2MM a year. Has a lot more potential, even upto 2.5MM since gas stations are sitting idle. Two purchasers have over 10 years of experience in running and owning Car Wash properties. Please email for more details. Time is of essence.
- Last Post by: swmsn on 12/28/2007 @ 12:04 PM

685k,75%ltv, 506 mid...

1x30 685k loan amount 75ltv single fam owner occ 506 mid full doc refi cashout mass any takers... please email me @ creiff.ams@gmail.com thanks
- Last Post by: djorge44 on 12/28/2007 @ 12:00 PM

second needed- spec home

anyone have stated seconds beside eloan (100k max) good fico, reserves, SE and so on- just need a higher $$ amt
- Last Post by: swmsn on 12/28/2007 @ 11:57 AM

77% ltv, 87% cltv sub heloc, R/T Refi

Looking to refi 1st loan amount 728k and subordinate the heloc loan amount 99k on a bank statement program. ltv is 77% 1st and 87% cltv. Rate and Term. DTI is 39%. Borrower is SE and has 2-3 months seasoned reserves. Thanks
- Last Post by: DCHRISTOU369 on 12/28/2007 @ 11:52 AM

full doc, 100% in Azusa, Ca. 2 unit jumbo

I have a 760 fico full doc need a lender, purchase price $640K
- Last Post by: muwate on 12/28/2007 @ 11:52 AM

MORTGAGE PROCESOR

HELP...EVRYONE IS LAZY AND I HAVE TO STAY ON TOP OF THEM,,,I NEED SOMEONE WHO IS COMPETENT ASAP..4 DEALS THAT ARE LIVE...IMPRESS ME THERE YOURS
- Last Post by: drewbenson on 12/28/2007 @ 11:49 AM

stated verified NY LOAN

850 k Purchase 695 middle owner occ single family need 90% CLTV I have the 80% already, I need the other 10% If you can do 80% and the 10% both let me know. thanks.
- Last Post by: DRDIAMOND on 12/28/2007 @ 11:42 AM

neg am 70% 4plex siva 725 fico investment CA and n

neg am 70% 4plex siva 725 fico investment CA and not world (wachovia)
- Last Post by: Dark1 on 12/28/2007 @ 11:42 AM

80% LTV, $488k, SIVA purchase in CA

SFR purchase in San Mateo, CA. Re-sale from individual, not a bank owned property. 20% down $488k loan amount Borrower is employed (10 years) & self-employed (4 years). BK discharged in '01. Can go SIVA or SISA. $60k in 401k as reserves 685 FICO, but paid off revolving debt and a rescore says we'll get over 700. Looking for 30-year fixed
- Last Post by: rortega on 12/28/2007 @ 11:41 AM

high real estate commision in FL

Looking for lenders in FLORIDA wouldn't mind high real estate commision.(30%) and over. please let me know
- Last Post by: mganovsky on 12/28/2007 @ 11:41 AM

Commercial loans

Happy New Year to all of you. I am new to this site. I represent a Direct Commercial Lender. Looking to assist anyone with Commercial Money Needs. I can also do Residential Loans but only in Florida. The Commercial Money can be through out the US.
- Last Post by: mgraham224 on 12/28/2007 @ 11:40 AM

DID NEW WORLD MORTGAGE CLOSE

I HAVE TRIED TO CALL THEM, EMAIL THEM...NOTHING..THEY OWE A LOT OF PEOPLE MONEY AND NEVER EVEN ANNOUNCED THEY HAVE CLOSED THEIR DOORS...HAS ANYONE HEARD ANYTHING???
- Last Post by: MortgageGurl on 12/28/2007 @ 11:38 AM

Internet Leads

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- Last Post by: loanbroker5 on 12/28/2007 @ 11:37 AM

Super Jumbo Cash Out -SC property

652 Mid 2.2M Appraised value 1.5M Loan Amount Cash out-$350k Full Doc A ton of assets 70% LTV/CLTV Primary-SFR Looking for a 7/1 or 30yr w/h I/O options depending on the rate. Also, I have another super jumbo cash out investment at 75% LTV/CLTV. Looking to close both at the same time, if possible.
- Last Post by: douglas on 12/28/2007 @ 11:34 AM

bear

anybody have Bear Stearns and National City Mortgage wholesale site addresses?
- Last Post by: mbrownusa on 12/28/2007 @ 11:34 AM

$1.4 Million Purchase

680 score, 80% LTV, 20% will be gift of equity/seller carry SIVA, has about 80 000 in 401k. have full file thanks!
- Last Post by: alisyed on 12/28/2007 @ 11:30 AM

Mortgage insurance calculator

Who knows of a good site where I can get a descent estimate on mortgage INS.
- Last Post by: mgraham224 on 12/28/2007 @ 11:22 AM

90% LTV Purchase Non Seasoned Funds...

$169k Purchase Price 90%LTV FTHB CA Property Full Doc A/E Looking for a lender that doesn't require seasoned funds. client is traditional and keeps $$$ at home (LOL)
- Last Post by: rortega on 12/28/2007 @ 11:18 AM

Net Branch L/Os doing loans out of state BEWARE!

Just read the website of the Nevada Morgage Lending Division that there are banks, credit unions, etc. in other States that are exempted from licensing in Nevada and their L/Os can originate loans there under this umbrella of exemption. Proof of such exemption is obtainable on-line from the Mortgage Lending Division, State of Nevada (http://mld.nv.gov/) and going thru the list of exempted companies under Category I exemption (set forth in NRS 645B.015(1)), you can double check your net branch company if they are really exempted from Nevada State's licensing requirements. I guess lenders will refuse to fund loans from companies that are not legally licensed in Nevada as well as from net branch companis not listed in the exemption list, or evidenced by an exemption certifiate with an appropriate Lic Exempt # on it. There are net branches who claim to be owned by banks or claim to be able to do loans in many States, including Nevada. Before joining any such net branch, one should ask for copy of the exemption certificate for the State or States where one plans to originate loans under the net branch system. Anyone can comment or add to my current understanding on this issue? I am shopping for the right net branch company that is legally exempted in Nevada and that can provide solid evidence of such exemption. One company I applied to has failed to provide such evidence and even got angry that I asked for it. Thank you. Peter
- Last Post by: mganovsky on 12/28/2007 @ 11:17 AM

100% R/T refi, PA , 629, 179k

I have a client who has a 629, SFR, o/o, i need 100% r/t refi, i can't go conforming because i have to escrow and that would through his closing costs off heres the scenrario... house appraised for 179 he owes 163 and he has a PP of 8300 and he is currently in an arm that is currently adjusting.... looking for full doc or stated DTI is 55%!! i'm looking for subprime or hardmoney
- Last Post by: Andres814 on 12/28/2007 @ 11:15 AM

need to refi a manufactured home in FLorida

I have a borrower that is looking for more than 15 yr term. Does anyone still do this?
- Last Post by: CSCHERIFF on 12/28/2007 @ 11:09 AM

Non Owner with 12 month bk statements

NONOwner-North Carolina loan (looking for as much ltv as possible)!!! 593 score borrower and 565 for co-borrower, self employed 15 yrs same buisness. 12 month bank statements. 100k in assetts. 2 x 30 on mortgage 20 trade lines with 24 months seasoning.
- Last Post by: Jdesey on 12/28/2007 @ 11:06 AM

FL, 880k, O/O, 663mid, Refi, Stated, 80%LTV

Loan scenario: FL, $880,000, 663 FICO, 80% LTV, Refinance, SF, stated, OO State: FL Amount: $880,000 Property type: SFR Documentation: stated FICO: 663 LTV: 80% Occupancy: OO Loan purpose: Refinance 0X30 on mortgage debt consolidation.
- Last Post by: jkelly on 12/28/2007 @ 10:57 AM

$$Boost Your Business With Reverse Mortgage Leads

We have been doing marketing for 5 years and are able to generate lists of people that may qualify for Reverse Morgages. We contact the consumer verify that they are interested in speaking to a reverse mortgage professional, that everyone on title is over 62 and that the home is worth 150k with a max LTV of 50%. This is then verified a second time by our call center, and then once we confirm this we transfer the consumer live to you on the telephone. We generate a lot of clients by people going to our website. If you Google “Reverse Mortgage Leads” we are the first company to come up. Having a top google rating is key to our lead generation. Most people call in off of that. We also have a dedicated sales staff that works in our call centers and originates business. We started as an online marketing company 5 years ago and have been growing ever since. We provide leads and data in several “verticals” including Reverse Mortgage, Debt, Student Loans, Scholarship, Auto and more. The housing market slump is turning more and more individuals to finding alternate ways to secure financing, be the first in your area to initiate the reverse mortgage lending process and see your business explode. 201-683-5520, Holiday Special through the end of the year.
- Last Post by: prosperityforall on 12/28/2007 @ 10:55 AM

Conforming Lender for NOO DU approval

besides Chase, Wells, Sovereign, Lincoln
- Last Post by: sbuckman on 12/28/2007 @ 10:52 AM

Flagstar downgrades appr value, still a deal

I had a 175k rural appriasal come back lower on their BPO. It is an A+ refi so its still a approve eligable loan @ the reduced value. The UW says they cannot do it because the guy would now have PMI & its a fair lending act violation to put the guy into a PMI loan after saying it wont be? I asked for the guidelines to enlighten me & he basicly told me to screw & sent me a denial letter instead of the guideline or act. Nice way to continue a 16 year relationship. Is this true? How so?
- Last Post by: mganovsky on 12/28/2007 @ 10:50 AM

516, 60 days down, 80% LTV, Full Doc, FL

Can anyone help with this scenario? 516, 60 days down, 80% LTV, Full Doc, FL
- Last Post by: CreditRepGal on 12/28/2007 @ 10:48 AM

Lot Loans

Does anyone know who does Lot/Land Loans. I have a client that wants to purchase 77acres. THanks, David P. 303-777-5264
- Last Post by: CSCHERIFF on 12/28/2007 @ 10:44 AM

$1.4mill option arm good credit

can you do the following option arm 697 fico 80% rate/term refi siva 1.4mill loan amt sfr owner occ ca deal self employed ppp is fine looking for any option arm. please email pricing to sp@truechoicelending.net
- Last Post by: Boblending on 12/28/2007 @ 10:42 AM

56% DTI?

I have a borrower who as a home that is currently on the market to be sold but he is purchasing a town home because his wife says he needs to get out. His DTI including the other home is 56%. He is going to put 20% down on the townhome with 680+ credit, do you guys see this as being any problem going though?
- Last Post by: theanswer on 12/28/2007 @ 10:40 AM

median incoem for california

where can i find the charts for median income forthe california counties
- Last Post by: racerx on 12/28/2007 @ 10:36 AM

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- Last Post by: LOP-Man on 12/28/2007 @ 10:18 AM

630 TX cash out refi/full doc

Texas Cash out refi 80% LTV mid score of 630 Full Doc I need a lender who can pay 3rd party fees. Equifirst has declined it because there seems to be some kind of address conflict. Borrower's check stubs, license, and w2s have his parents address and they are not accepting it because they do not match his homestead address. His wife (coborrower) has her previous childhood address coming out as well and this is why they are not accepting it. This is a very legit deal but Equifirst is being very picky on it. Any help would be appreciated. Thanks
- Last Post by: meagherr on 12/28/2007 @ 10:15 AM

looking for investors pays over 25% per deal

i have completed 10 of deals like this let me give you example bought house for 110,000 cost $20,000 remodel total cost =130,000 payment$600. we rent the house for $1200 per month appraised value from usbank was $280,000 that means we have $180,000 in equity. i have full construction crew and a list of prequalified renters and buyers. the properties all have min $100,000 equity if intristed call me for full details 916-273-7725 or email loansfromjesus@yahoo.com
- Last Post by: pablin_2005 on 12/28/2007 @ 10:10 AM

REO buyers

Okay, if you are looking at this message then you know how tough it is to get one of these deals done. I work directly with a Bank that has these REO portfolios to deliver. This is not a Compiler or some guy who knows a guy who knows a guy... etc.... The one condition is that your buyer has to show HARD evidence of funds to be considered. No soft Proof of Funds will be accepted. John 805-495-5953 Jdesey@gmail.com
- Last Post by: Jdesey on 12/28/2007 @ 09:55 AM

Anyone still doing stated 2nds????

High FICO, to 90% in Missouri, is it even possible anymore?
- Last Post by: dgreco3 on 12/28/2007 @ 09:52 AM

Any Citimortgage AE's

I am trying to submit a file but my AE is missing in action. Can someone help me out?
- Last Post by: racerx on 12/28/2007 @ 09:44 AM

Full package that needs home! ANY LENDER!

This is a Investment Property or Second home (Which ever is better), c/o refinance 630 Fico, Full doc, 95% LTV, Condo. Property located in FL.
- Last Post by: mlo on 12/28/2007 @ 09:39 AM

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