Besides FHA any lender allow cltv of 100%+

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KHufford

6434 Posts

Posted - 04/03/2008 : 3:30:57 PM

Any lender allow this? Refinancing just a first mortgage and will the resubordination of the 2nd cltv will be over 100% ?

jillstatz

657 Posts

Posted - 04/03/2008 : 4:11:13 PM

depends on who the 2nd is currently with, a couple months ago Home Comings subordinated with the cltv being 115% after re-financing the first only.

KHufford

6434 Posts

Posted - 04/03/2008 : 4:31:26 PM

Who did the 1st?

Scrooge McDuck

9716 Posts

Posted - 04/03/2008 : 4:41:34 PM

i think us bank still does that.

jillstatz

657 Posts

Posted - 04/03/2008 : 4:44:26 PM

M&I Wholesale will allow to 125% cltv

KHufford

6434 Posts

Posted - 04/03/2008 : 4:53:30 PM

I just called M and I...rep wasnt too sure because of all teh changes but thinks that 125% went away? Do you know if for sure they will do that still?

irishstu7975

261 Posts

Posted - 04/03/2008 : 5:01:45 PM

I just got something a day or two ago from M&I saying they will do 125% WITH THE SUBORDINATION OF THE 2ND.....sorry for the shouting

jillstatz

657 Posts

Posted - 04/03/2008 : 5:16:25 PM

According to the rate sheet that I received Monday from them it still say that they are. I have found broker support to be much more helpful than my AE, they seem to be more up on things.

irishstu7975

261 Posts

Posted - 04/03/2008 : 5:17:53 PM

yea...my AE with them never returns calls or e-mails ....i have to contact broker support who are very helpful

goodguy1

1681 Posts

Posted - 04/03/2008 : 5:19:54 PM

I spoke with an M&I rep today..
M&I will no longer do 125%, however Irwin might.
M&I will allow >100% CLTV if you take their 1st to 100%...at 8.65%..good luck getting the 2nd to subordinate though.

getfunding

130 Posts

Posted - 04/03/2008 : 7:00:49 PM

Can I Get The Contact info for M&I please

thanks

jillstatz

657 Posts

Posted - 04/03/2008 : 7:24:14 PM

1-800-827-2654 broker support is option 4

neversaynever

1044 Posts

Posted - 04/03/2008 : 7:26:41 PM

M&I WILL as well as US Bank.

getfunding

130 Posts

Posted - 04/03/2008 : 7:47:38 PM

Thanks Jill, U wouldnt Happen to know if they Fund in the state
of MS, do you?

Thanks

jillstatz

657 Posts

Posted - 04/03/2008 : 7:55:19 PM

quote:
Originally posted by getfunding

Thanks Jill, U wouldnt Happen to know if they Fund in the state
of MS, do you?

Thanks

from the rate sheet no they do not lend in MS

EMScommercial

5141 Posts

Posted - 04/03/2008 : 8:00:55 PM

are you serious jill? still?

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