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jrami012
52 Posts |
 Posted - 03/19/2008 : 7:42:21 PM
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Here's my scenario:
FICO: 687
SIVA
$100k CD acct
$18k checking acct
$325k l/a
5% down
Self employed (Lath and Plastering Contractor)
Please price out at par and 1 rebate
Any feedback is greatly appreciated!
Thank you! ;0)
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ppulatie
2259 Posts |
Posted - 03/19/2008 : 7:45:12 PM
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How about ROTFLMAO?
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mantixmortgage
2717 Posts |
Posted - 03/19/2008 : 7:47:46 PM
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| sorry, no mas |
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KHufford
6019 Posts |
Posted - 03/19/2008 : 7:49:38 PM
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quote:
Originally posted by ppulatie
How about ROTFLMAO?
Can you FW me their rate sheets, please?
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dkendall1979
10342 Posts |
Posted - 03/19/2008 : 8:26:34 PM
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Janet, can you collect the tax returns and see what you get?
Our FHA doesn't have DTI restrictions and I got one approved today at 67% DTI on a self-employed borrower with compensating factors (high fico, overall debt going down).
Let me know,
quote:
Originally posted by jrami012
Here's my scenario:
FICO: 687
SIVA
$100k CD acct
$18k checking acct
$325k l/a
5% down
Self employed (Lath and Plastering Contractor)
Please price out at par and 1 rebate
Any feedback is greatly appreciated!
Thank you! ;0)
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Scrooge McDuck
8880 Posts |
Posted - 03/19/2008 : 8:28:42 PM
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quote:
Originally posted by dkendall1979
Janet, can you collect the tax returns and see what you get?
Our FHA doesn't have DTI restrictions and I got one approved today at 67% DTI on a self-employed borrower with compensating factors (high fico, overall debt going down).
Let me know,
quote:
Originally posted by jrami012
Here's my scenario:
FICO: 687
SIVA
$100k CD acct
$18k checking acct
$325k l/a
5% down
Self employed (Lath and Plastering Contractor)
Please price out at par and 1 rebate
Any feedback is greatly appreciated!
Thank you! ;0)
you guys NEED more freaking states. |
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dkendall1979
10342 Posts |
Posted - 03/19/2008 : 8:31:24 PM
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You come in and do the compliance for Mass and pay the registration fees to renew the license, and I'm sure the boss would open it up for you :)
quote:
Originally posted by Scrooge McDuck
quote:
Originally posted by dkendall1979
Janet, can you collect the tax returns and see what you get?
Our FHA doesn't have DTI restrictions and I got one approved today at 67% DTI on a self-employed borrower with compensating factors (high fico, overall debt going down).
Let me know,
quote:
Originally posted by jrami012
Here's my scenario:
FICO: 687
SIVA
$100k CD acct
$18k checking acct
$325k l/a
5% down
Self employed (Lath and Plastering Contractor)
Please price out at par and 1 rebate
Any feedback is greatly appreciated!
Thank you! ;0)
you guys NEED more freaking states.
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subprime
3606 Posts |
Posted - 03/19/2008 : 8:31:44 PM
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| David are you serious??? NO DTI Restrictions on FHA?? How the heck is that possible?? That is awesome, is that with traditional full doc? Can that go to 97.5% and allow for DPA to 100%? |
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subprime
3606 Posts |
Posted - 03/19/2008 : 8:32:52 PM
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quote:
Originally posted by jrami012
Here's my scenario:
FICO: 687
SIVA
$100k CD acct
$18k checking acct
$325k l/a
5% down
Self employed (Lath and Plastering Contractor)
Please price out at par and 1 rebate
Any feedback is greatly appreciated!
Thank you! ;0)
Janet, if your borrower could qualify with bank statements let me know, I could price this out for you |
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dkendall1979
10342 Posts |
Posted - 03/19/2008 : 8:37:59 PM
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Yes,
we're fully delegated & non-supervised. We don't like low fico scratch and dent. We go for the high fico, DU approve eligible loans. While I'm at it, we don't have monthly MI on 15yr fixed loans either, the loan I was speaking about above was a 15yr fixed loan which went a distance in getting the approval.
We're going after the high fico, good borrowers that just can't close conventionally. We're already putting out approvals on the new loan limits as well. I got a 694,750k loan amount approved today at 92% LTV it was unreal! Oh and Orange County!!!
quote:
Originally posted by subprime
David are you serious??? NO DTI Restrictions on FHA?? How the heck is that possible?? That is awesome, is that with traditional full doc? Can that go to 97.5% and allow for DPA to 100%?
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subprime
3606 Posts |
Posted - 03/19/2008 : 8:51:51 PM
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| That is unreal, nice job, you guys have some good stuff going on. Would you allow 100% with DPA? With over a 45% DTI? If their was comp factors of course |
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dkendall1979
10342 Posts |
Posted - 03/19/2008 : 8:59:10 PM
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Yes, San Diego and all. The only thing that ***** is once you go over the "old" FHA limits, you've got to price out on FHA Jumbo which is about 1% off the non-jumbo stuff. But, who cares? 700k loan amounts, 90%+ LTV's at 6% on a 30yr fixed rocks!
quote:
Originally posted by subprime
That is unreal, nice job, you guys have some good stuff going on. Would you allow 100% with DPA? With over a 45% DTI? If their was comp factors of course
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jrami012
52 Posts |
Posted - 03/19/2008 : 9:02:33 PM
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| sounds like a really good program. I will collect bank statements and see what i get. What percentage of deposits do you give credit for? |
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subprime
3606 Posts |
Posted - 03/19/2008 : 9:04:52 PM
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100% of personal bank statements
IF business, we take 75%
What city is the property in? Need to check our declining market chart, we go by city, not county |
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