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RANDY P
2272 Posts |
 Posted - 01/05/2008 : 12:06:16 PM
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is there anyone out there besides Indy Mac who is doing the following?
10% down against estimated costs, 70% LTV after completion
SFR O/O
Owner builder, not a licensed contractor
Property is parcel in escrow now - need funding to continue constrution. Once again, constrution to perm - house is NOT built yet.
700 FICO full doc borrower
Anyone? |
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mgraham224
950 Posts |
Posted - 01/05/2008 : 11:34:46 PM
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Not sure if they still do it, but WaFed used to. No YSP there, FYI.
Careful... I think one of their underwriters is a democrat! |
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RANDY P
2272 Posts |
Posted - 01/05/2008 : 11:42:42 PM
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quote:
Originally posted by mgraham224
Careful... I think one of their underwriters is a democrat!
If that's the case I'll just start to cry when they try to feed me a TD :) |
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mgraham224
950 Posts |
Posted - 01/06/2008 : 12:38:10 AM
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Yep, tug at those dem's heartstrings. Hey, maybe you can get subprime back if you cry loud enough.
Good luck though. I've had common sense underwrites with them. Smoother than most agency lenders.
For the record, I'm politically agnostic but wholeheartedly opposed to any unnecessary government intervention that damages the industry for good brokers. |
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RANDY P
2272 Posts |
Posted - 01/06/2008 : 01:13:56 AM
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I'm not.
In general I have disliked the Democratic party campaign platforms, stances, the pandering to the fringe political causes (READ: UNPOPULAR)and HR 3915 and it's distortions was enough to cure me of nver, ever considering another Democrat for office.
rjp
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