I requirement to do a mortgage loan near a foreclosure 16 months ago...?
I'm a loan officer need a lender that will go 90% ltv on a borrower near a foreclosure 16 months ago and a 577 middle score (full doc), I need to find a lender than may hold a program for this borrower.
Thank you
Answers:
Lotsa luck. If you are a loan officer and can't find one, how do you expect to find leads here other than the scammers who are imagined to reply. And btw, last I heard, 577 is just about a middle credit score.
Its not gonna happen.
brokeruniverse.com
brokeroutpost.com
This post does not belong here go to these websites and post there.
How more or less ask your manager or other people within your office.
Other than loan sharks the sub prime market is gone, the Alt-A is disappearing and the credit scores surrounded by all cases have be raised. Your lender will end up suing you if they find a loan a year from now because of the rates you got them. Not to mention a foreclosure of late over a year ago, sorry out of luck
Good luck finding one. With the current crisis beside mortgages it's going to be impossible.
A 610 is a middle score. 577 is strictly low and subprime. Origination lenders are completely out of this business for the moment, unless the borrower have a 20% down. Only people doing these loans are small, local banks who don't use mortgage brokers or originator, and even then they are normally single going down to 620 or so.
The no doc loans are dodo birds - a thing of the past. Everything is full doc very soon. Source(s): Real estate investor and formerly a licensed real estate agent
Related Questions:
What's the best place to step to apply for a mortgage loan?
Ask around for a mortgage broker. A righteous one will shop your information around and get you the best rate. Mortgage loan is a possession used for the loans secured by a property. Mortgage loans refer to a loan secured by...
Thank you
Answers:
Lotsa luck. If you are a loan officer and can't find one, how do you expect to find leads here other than the scammers who are imagined to reply. And btw, last I heard, 577 is just about a middle credit score.
Its not gonna happen.
brokeruniverse.com
brokeroutpost.com
This post does not belong here go to these websites and post there.
How more or less ask your manager or other people within your office.
Other than loan sharks the sub prime market is gone, the Alt-A is disappearing and the credit scores surrounded by all cases have be raised. Your lender will end up suing you if they find a loan a year from now because of the rates you got them. Not to mention a foreclosure of late over a year ago, sorry out of luck
Good luck finding one. With the current crisis beside mortgages it's going to be impossible.
A 610 is a middle score. 577 is strictly low and subprime. Origination lenders are completely out of this business for the moment, unless the borrower have a 20% down. Only people doing these loans are small, local banks who don't use mortgage brokers or originator, and even then they are normally single going down to 620 or so.
The no doc loans are dodo birds - a thing of the past. Everything is full doc very soon. Source(s): Real estate investor and formerly a licensed real estate agent
Related Questions:
What's the best place to step to apply for a mortgage loan?
Ask around for a mortgage broker. A righteous one will shop your information around and get you the best rate. Mortgage loan is a possession used for the loans secured by a property. Mortgage loans refer to a loan secured by...