| Author |
Previous Topic | Next Topic |
|
mullaned2002
94 Posts |
 Posted - 04/10/2008 : 3:26:39 PM
|
As far as I know, Golden 1st is still doing these. They are a small wholesale lender located in NY. They are aggressively manually underwriting. I am not affiliated with this bank. I work for a commercial hard money lender. My friend Ryan works there; my interest is to help those looking for this product and Ryan.
Ryan's cell 763-498-4631
krh36@hotmail.com
Best of Luck! |
|
tmaxey2
31 Posts |
Posted - 04/10/2008 : 9:24:15 PM
|
How about giving us their web site and contact info...
Manual UW companies are getting hard to find.
Thanks |
|
|
chicagobanker
13 Posts |
Posted - 04/10/2008 : 10:00:15 PM
|
I can do FHA <580...please call for my contact info
|
|
|
lenderep
2702 Posts |
Posted - 04/11/2008 : 04:34:29 AM
|
| We do as well..... |
|
|
actionjackson
1191 Posts |
Posted - 04/11/2008 : 08:45:38 AM
|
We do them at 560
Jason J. Miles
Cornerstone Bancor Mortgage Corp
1-866-WE-LEND-U/1-631-225-7096
1-800-538-0794/E-FAX
1-631-943-9807/1-631-991-1665/CELLS
jason@cmbank.net
www.cmbank.net |
|
|
MoneyLenderP
1681 Posts |
Posted - 04/11/2008 : 09:14:30 AM
|
| I'm leaving my company for a place that still has no min score, manaual UW all day |
|
|
jblakeleycook
131 Posts |
Posted - 04/11/2008 : 09:38:26 AM
|
| tbw does under 580 all the way down |
|
|
jladarski
111 Posts |
Posted - 04/11/2008 : 11:57:02 AM
|
quote:
Originally posted by jblakeleycook
tbw does under 580 all the way down
they do but they also have a 1-1.5 (can't remember) point hit on it as well now |
|
|
MoneyLenderP
1681 Posts |
Posted - 04/11/2008 : 11:59:14 AM
|
security atlantic...down to 530..
freedom mortgage..no min..no hits |
|
|
jblakeleycook
131 Posts |
Posted - 04/11/2008 : 12:53:10 PM
|
| how do I get in touch w/ freedom mortgage? |
|
|
todoforu
761 Posts |
Posted - 04/11/2008 : 1:49:39 PM
|
thanks! needed to know this:
quote:
Originally posted by mullaned2002
As far as I know, 1st Rate Capital is still doing these. They are a small wholesale lender located in NY. They are aggressively manually underwriting. I am not affiliated with this bank. I work for a commercial hard money lender. My friend Ryan works there; my interest is to help those looking for this product and Ryan.
Ryan's cell 763-498-4631
Best of Luck!
|
|
|
Rene Viloria
1877 Posts |
Posted - 04/11/2008 : 2:58:23 PM
|
| This is so messed up fha is the only product that can really help people at this time and they are already shutting it down! |
|
|
Rene Viloria
1877 Posts |
Posted - 04/11/2008 : 3:07:05 PM
|
quote:
Originally posted by beth1234
quote:
Originally posted by Rene Viloria
This is so messed up fha is the only product that can really help people at this time and they are already shutting it down!
isn't America just great! Home of the free! Free of owning a home. I love how we give money freely to people on welfare that do not pay any taxes but homeowners that are working and active contributers to society can't receive any help ever. Maybe if we stop giving money out like it is candy to people that sit on their ass all day then we can have less taxes taken out of our checks, thus going towards our bills. But, that would be to easy of a solution.
Agree, what about the billions in this stupid war....... |
|
|
twobig
299 Posts |
Posted - 04/11/2008 : 4:19:20 PM
|
| Freedom announced that they will be taking the 1.5 hit for sub 580 scores now. |
|
|
FundStar14
783 Posts |
Posted - 04/12/2008 : 12:33:01 AM
|
quote:
Originally posted by beth1234
quote:
Originally posted by Rene Viloria
quote:
Originally posted by beth1234
quote:
Originally posted by Rene Viloria
This is so messed up fha is the only product that can really help people at this time and they are already shutting it down!
isn't America just great! Home of the free! Free of owning a home. I love how we give money freely to people on welfare that do not pay any taxes but homeowners that are working and active contributers to society can't receive any help ever. Maybe if we stop giving money out like it is candy to people that sit on their ass all day then we can have less taxes taken out of our checks, thus going towards our bills. But, that would be to easy of a solution.
Agree, what about the billions in this stupid war.......
True but I bet you more money is given out on welfare that went towards the war guaranteed.
I'm with you Laurie.. Your dead on.... |
|
|
mpgloans
39 Posts |
Posted - 04/12/2008 : 12:36:12 AM
|
| I didn't get that Freedom announcement...can you post it please? TY |
|
|
msancheznj
2243 Posts |
Posted - 04/13/2008 : 10:45:34 AM
|
| HSBC no hit to ficos under 580. |
|
|
ppulatie
2278 Posts |
Posted - 04/13/2008 : 5:57:57 PM
|
| Mountain West, but they hit 3 points for under 580 and 3 for over $362,900 |
|
|
Quicksilver
4823 Posts |
Posted - 04/14/2008 : 07:49:50 AM
|
Scratch Security National off, just go this:
Less than 580 – Not allowed regardless of AUS Findings. Loans currently in pipeline cannot close.
580-619 – Must have an AUS approval. Loans currently in pipeline without an AUS approval will be Continued on a case by case basis with a 2nd signature from our corporate office.
620 or greater –AUS or Traditional underwrite. If traditionally underwritten, ratios cannot be exceeded by more than 2%
No FICO/Alternate credit – Requires 2nd signature from the corporate office.
|
|
|
msancheznj
2243 Posts |
Posted - 04/14/2008 : 08:02:07 AM
|
quote:
Originally posted by beth1234
quote:
Originally posted by msancheznj
HSBC no hit to ficos under 580.
Is this assuming you get an accept when you run it through DU?
At least Accept/Refer, they'll manually U/W. |
|
|
twobig
299 Posts |
Posted - 04/14/2008 : 08:28:53 AM
|
quote:
Originally posted by mpgloans
I didn't get that Freedom announcement...can you post it please? TY
link is here http://image.exct.net/lib/ff021670716205/d/1/BB%20fha%20jumbo%20and%20cs%20adj.pdf
11 April, 2008
FHA Product Updates!
Freedom Mortgage is pleased to announce our
FHA Jumbo Conforming Product
Available April 14th, 2008!
Below are some product highlights:
• Subject to the new FHA loan limits. You can find the new conforming
jumbo loan limits at: http://entp.hud.gov/idapp/html/hicostlook.cfm.
For areas not impacted by the new jumbo limits, the maximum standard
FHA loan limit is $362,750, or the county limit, whichever is less.
• Eligible terms: 15, 20, 25, and 30-year fixed rate terms
• Eligible properties/occupancy: 1-4 unit primary residences
• Eligible transactions: purchase, limited cash-out & cash-out refinances
• Look on Monday’s rate sheet for pricing information!
-------------------------------------------------------------------------------------------------
New FHA Credit Score Adjustments!
Effective 4/14/08!
Beginning with locks on or after Monday April 14th, the following
credit score adjustments will apply to all FHA/VA products:
680+ (.500) Improvement to YSP!
620 – 679 No Adjustment! Priced as posted!
580 – 619 +.500 cost to YSP!
< 579 +1.000 cost to YSP!
No score Priced at < 579
Floating loans in the pipeline must be locked today
Friday April 11th to keep the existing adjustments!
---------------------------------------------------------------------------------
If You Have Any Questions, Please Contact Your
Freedom Mortgage Account Executive. |
|
|
sithburns
379 Posts |
Posted - 04/14/2008 : 08:52:19 AM
|
Welfare is not evil.
Abuse is evil. More oversite on EVERYTHING is just what the doctor ordered. A little civilian oversign on the Bush Regime would be fantastic.
Oil prices are record high
Gas prices at record high
Lots of private outsourcing of military operations and equipment
All in all for Bush I'd have to say... SUCCESS!!!! MISSION ACCOMPLISHED
For the people of the US and the world. Sux to be us. Too bad we have no balls and don't hold people accountable for breaking our consitution huh.
Not only that we violate international laws by illegally supporting holding suspected terrorists with no right to council and no formal charges being brought on them. We advocate and practice totured to people. way to go US.
Yeah Welfare is our big problem here people. PLEASE................... |
|
|
jblakeleycook
131 Posts |
Posted - 04/14/2008 : 09:01:44 AM
|
| must you go on some tangential rant? can't you just stay on topic. For those of you who are ACTUALLY INTERESTED in compiling a list of lenders that still do below 580 score manual underwrite FHA loans, please contribute. All others, please don't waste our time! |
|
|
lemeuss
597 Posts |
Posted - 04/14/2008 : 09:55:10 AM
|
| damn the man |
|
|
Quicksilver
4823 Posts |
Posted - 04/14/2008 : 10:01:11 AM
|
USA Home Loans www.usahlwholesale.com I should have a CTC with today, finally. I just noticed they'll go below 580, here's the adjustments
Non Traditional Credit (no fice) pricing hit - 2.000
<565 hit of 2.000
565-579 hit of 1.500
580-594 hit of 1.000
|
|
|
Carpet Muncher
1385 Posts |
Posted - 04/14/2008 : 10:07:57 AM
|
quote:
Originally posted by Quicksilver
USA Home Loans www.usahlwholesale.com I should have a CTC with today, finally. I just noticed they'll go below 580, here's the adjustments
Non Traditional Credit (no fice) pricing hit - 2.000
<565 hit of 2.000
565-579 hit of 1.500
580-594 hit of 1.000
How have they been to deal with? |
|
|
Quicksilver
4823 Posts |
Posted - 04/14/2008 : 10:12:17 AM
|
quote:
Originally posted by Carpet Muncher
quote:
Originally posted by Quicksilver
USA Home Loans www.usahlwholesale.com I should have a CTC with today, finally. I just noticed they'll go below 580, here's the adjustments
Non Traditional Credit (no fice) pricing hit - 2.000
<565 hit of 2.000
565-579 hit of 1.500
580-594 hit of 1.000
How have they been to deal with?
Seemed a bit unorganized and slow, but like everyone else they got slammed with FHA which is all they do if I'm not mistaken. 1st time using them, pricing is pretty damn good for tough files, mine was a manual as I got a refer, 85% ltv cash out (2 mortgage lates) at 5.875 paying 1.5 when I locked last week. |
|
|
Carpet Muncher
1385 Posts |
Posted - 04/14/2008 : 10:14:38 AM
|
quote:
Originally posted by Quicksilver
quote:
Originally posted by Carpet Muncher
quote:
Originally posted by Quicksilver
USA Home Loans www.usahlwholesale.com I should have a CTC with today, finally. I just noticed they'll go below 580, here's the adjustments
Non Traditional Credit (no fice) pricing hit - 2.000
<565 hit of 2.000
565-579 hit of 1.500
580-594 hit of 1.000
How have they been to deal with?
Seemed a bit unorganized and slow, but like everyone else they got slammed with FHA which is all they do if I'm not mistaken. 1st time using them, pricing is pretty damn good for tough files, mine was a manual as I got a refer, 85% ltv cash out (2 mortgage lates) at 5.875 paying 1.5 when I locked last week.
So pretty much par for the course. Thanks for the info. I am signed up with them. I'll give 'em a shot on a low FICO |
|
|
igoresha76
133 Posts |
Posted - 04/14/2008 : 11:13:22 AM
|
Any one in NJ does FHA < 580, besides Freedom Mortgage and Security Atlantic?
Thank you |
|
|
jblakeleycook
131 Posts |
Posted - 04/14/2008 : 11:43:05 AM
|
| Laurie, can you take this diatribe off this thread? Stay on topic please. |
|
|
Rene Viloria
1877 Posts |
Posted - 04/14/2008 : 11:50:38 AM
|
quote:
Originally posted by beth1234
quote:
Originally posted by sithburns
Welfare is not evil.
Abuse is evil. More oversite on EVERYTHING is just what the doctor ordered. A little civilian oversign on the Bush Regime would be fantastic.
Oil prices are record high
Gas prices at record high
Lots of private outsourcing of military operations and equipment
All in all for Bush I'd have to say... SUCCESS!!!! MISSION ACCOMPLISHED
For the people of the US and the world. Sux to be us. Too bad we have no balls and don't hold people accountable for breaking our consitution huh.
Not only that we violate international laws by illegally supporting holding suspected terrorists with no right to council and no formal charges being brought on them. We advocate and practice totured to people. way to go US.
Yeah Welfare is our big problem here people. PLEASE...................
Dude, unless you can speak of things you know you really shouldn't make a statement you can't support with evidence. I worked in the welfare field for 7 years. Speaking from EXPERIENCE. The average family gets $5,000/month of all of the combined lovely things they receive, (i.e., medical, food stamps, housing,childcare, etc). Hmmmm. all for sitting on their ass all day. $5,000 x lets see, millions of families each month, how much wasted money is that. At least our military people are working citizens and doing a job. these people are not doing one damn thing.
Welfare is not the problem right now, the stupid war is the problem, the reason of oil, the dollar, lack of spending in education and lack of spending in our country is more tight to the war and the current administration policies that the welfare... But i agree with you welfare should be out, but do not blame welfare for our crisis, it has nothing to do with it! It is not the cause of the current problems...The biggest problem with our business was the investors lending without taking into acct. risk, and loose underwriting guidelines....Back to fha, it is messed up what lender are doing requiring over 600 scores... |
|
|
MacMortgage
70 Posts |
Posted - 04/14/2008 : 12:16:14 PM
|
| Lenders are changing their FHA guidelines and score minimums because it is impossible to sell the sub 580 paper right now. If they can't sell it, we can't write it! |
|
|
cspatmon
2438 Posts |
Posted - 04/14/2008 : 7:05:14 PM
|
| Laurie, your statements are bitter and vindictive. That's probably why you're not in the field of social work today. Please, save your opinions of untruths for someone who cares!Ideal Mortgage will take 530 and sub 500 FHA Secure. |
|
|
fund-n
320 Posts |
Posted - 04/14/2008 : 7:56:54 PM
|
| I just wish I had FHA. just submitted our package |
|
|
mlo
216 Posts |
Posted - 04/15/2008 : 03:59:39 AM
|
| I could do below 580 |
|
|
mpgloans
39 Posts |
Posted - 04/15/2008 : 07:22:08 AM
|
This is who I know that is doing below 580:
Freedom (manual still ok as far as I know)
Equifirst (manual saa)
5th 3rd Bank Wholesale (LP Accept only)
West America (Approve Eligible only)
Wells (A/E only)
Does anyone know about CITI in regards to FHA only (I know they have their problems...just want to know about FHA, please) |
|
|
U812
413 Posts |
Posted - 04/15/2008 : 07:23:33 AM
|
In the future, if you post a company's name please post their contact information also. Makes it much simpler to compile a list.
Thanks ALL! |
|
|
cspatmon
2438 Posts |
Posted - 04/15/2008 : 10:54:15 AM
|
Laurie you definitely need serious counseling. My background is extensive. For the record I never needed financial assistance of any type or have a family history of being on the dole. That never took away the feeling of having compassion for others less fortunate. If you have an identity problem and this is the way you cope to put down others than you need a damn straight jacket! |
|
|
JQUALIA1
1 Posts |
Posted - 04/15/2008 : 11:48:51 AM
|
quote:
Originally posted by chicagobanker
I can do FHA <580...please call for my contact info
Do you lend in texas? |
|
|
cspatmon
2438 Posts |
Posted - 04/15/2008 : 12:01:15 PM
|
| Sorry Laurie, Ideal rep explained they will not underwrite sub 560. Possibly in another month or so it may change again..... #1-877-FHA-IDEAL. |
|
|
Travis Du Bois
590 Posts |
Posted - 05/20/2008 : 11:42:29 AM
|
Bump... Just wanted to see if there were any updates to this.
If so can you list the company and website or contact info for an AE with them?
Thanks |
|
|
twobig
299 Posts |
Posted - 06/04/2008 : 12:35:48 PM
|
| Rebump. |
|
|
mullaned2002
94 Posts |
Posted - 06/04/2008 : 12:45:04 PM
|
Ryan moved to Golden 1st. No score requirement.
krh36@hotmail.com
763-498-4631 |
|
|
FHA123
4 Posts |
Posted - 06/04/2008 : 1:03:40 PM
|
We will go down to a 530 fico manual underwrite.
Bill Randles
Account Executive - Continental Home Loans
630.696.8931
wrandles@chl123.com
www.chl123.com
CHL's FHA Spotlight
MINIMUM 530 SCORE ELIGIBILITY FOR FHA
106% FINANCING AVAILABLE 1-4 UNITS
RATE AND TERM REFI < 12 MO'S SEASONING
REDUCED PRICING HITS FOR JUMBO'S
NO DECLINING MARKET RESTRICTIONS
JUMBO FHA LOAN AMT'S UP TO $729,750
97.75% MAX LTV PURCHASES
95% CASH OUT ALLOWED
UP TO 6% SELLER CONCESSIONS
GIFT AND GRANT FUNDS ALLOWED
NO PAYMENT SHOCK
BANKRUPTCY SEASONING = 2 YEARS
FORECLOSURE SEASONING = 3 YEARS
CURRENTLY IN BANKRUPTCY "OK"
NO SCORES TO 97.75% PURCH- 95% REFI'S
NO TRADE LINES (ALTERNATE TRADES OK)
"ONE DAY" MLS SEASONING OK
NO PRE-PAY PENALTIES
NO RESERVES REQUIRED |
|
|
HollywoodLO
261 Posts |
Posted - 06/04/2008 : 1:17:10 PM
|
| Citi will, I believe. The hit is 1.5. Not sure if it has to be Approve/Eligible or not though. |
|
|
Managing Prime
2804 Posts |
Posted - 06/13/2008 : 11:50:27 AM
|
| Bumpity Bump....bump. |
|
|
dgpaul
28 Posts |
Posted - 06/13/2008 : 11:54:25 AM
|
| Equifirst came on board this past Wed. with a 530 FHA! |
|
|
TheMoneyStoreguy
398 Posts |
Posted - 06/13/2008 : 12:01:00 PM
|
The Money Store does manual underwrites down to 580, and with DU approved to 550
DTI up to 60
Turnaround times 24 to 48 hours
Broker approval 24 to 48
Call or email to discuss.
|
|
|
downtime
233 Posts |
Posted - 06/13/2008 : 12:07:54 PM
|
| Anyone do a 545 manual underwrite? |
|
|
| |
Previous Topic | Next Topic |
|
Search for: 
