| Author |
Previous Topic | Next Topic |
|
canesf12
156 Posts |
 Posted - 04/30/2008 : 1:03:22 PM
|
| What mortgage companies are doing one day off MLS for a refinance? |
|
djorge44
1843 Posts |
Posted - 04/30/2008 : 1:04:29 PM
|
| Tons, cash out or rate term. Make sure you drop the appraised value 20% or so from list price |
|
|
canesf12
156 Posts |
Posted - 04/30/2008 : 1:09:35 PM
|
| It is a rate and term and 20% is not a problem. |
|
|
dwmordue
452 Posts |
Posted - 04/30/2008 : 1:09:44 PM
|
GMAC & Homecomings still doing them 1 day off.
Citibank is 30 days... I think.
US Bank is 90 days. |
|
|
williamspeaking
4058 Posts |
Posted - 04/30/2008 : 1:11:28 PM
|
| I'm 1 day off for full doc. |
|
|
dwmordue
452 Posts |
Posted - 04/30/2008 : 1:23:43 PM
|
| Technically, anyone who sells directly to FNMA has the ability to do loans that are 1 day off MLS. FNMA themselves have no requirement of time of market beyond the 1 day. It's an overlay in the actual lenders who contract to sell to FNMA, they choose the guidelines where they add the requirement of the 30, 60, 90, 180 days, etc. |
|
|
arenas32
44 Posts |
Posted - 04/30/2008 : 4:18:27 PM
|
| I just closed one with Metrocities as a cashout with conforming pricing and no problems. they'll do it. |
|
|
ZoolanderMSM
220 Posts |
Posted - 04/30/2008 : 4:22:03 PM
|
| Washington Mutual will take it w/ one day off. |
|
|
dmj30064
236 Posts |
Posted - 04/30/2008 : 5:20:54 PM
|
Is this for rate/term or is cash-out possible? Please advise, if so I have a deal for you in GA.
quote:
Originally posted by williamspeaking
I'm 1 day off for full doc.
|
|
|
daronc
1280 Posts |
Posted - 04/30/2008 : 5:53:40 PM
|
| Conforming full doc I am ok..... |
|
|
richmun
22 Posts |
Posted - 04/30/2008 : 6:56:52 PM
|
I have a client with 803 credit score, wants to refinance -- cash out, 30 days out of MLS, property now rented since they moved into their new house, property in Orlando, Florida value 145,000 new loan amount would be 105,000 - full doc. They are ready to do this - let me know what you have and what kind of rate we are talking about!!!
Thanks!!
Richard Munoz
Island Point Mortgage |
|
|
dmj30064
236 Posts |
Posted - 05/05/2008 : 12:10:09 PM
|
Call Metrocities.
quote:
Originally posted by richmun
I have a client with 803 credit score, wants to refinance -- cash out, 30 days out of MLS, property now rented since they moved into their new house, property in Orlando, Florida value 145,000 new loan amount would be 105,000 - full doc. They are ready to do this - let me know what you have and what kind of rate we are talking about!!!
Thanks!!
Richard Munoz
Island Point Mortgage
|
|
|
Clr2close
330 Posts |
Posted - 05/05/2008 : 3:28:13 PM
|
hello my name is Damon Laylock from Ideal Mortgage Bankers I would like to discuss this loan further please email me at Dlaylock@idealmb.com
DAMON LAYLOCK
SR. ACCOUNT EXECUTIVE
IDEAL MTG. BANKERS
OFFICE 631-944-4555 EXT. 2125
DIRECT LINE 631-944-4016
CELL 718-749-2112
FAX 631-944-4977
IDEALMB.COM
DLAYLOCK@IDEALMB.COM |
|
|
slants
4301 Posts |
Posted - 05/05/2008 : 4:04:05 PM
|
quote:
Originally posted by ZoolanderMSM
Washington Mutual will take it w/ one day off.
You do realize they have not been in wholesale since last year? |
|
|
dmj30064
236 Posts |
Posted - 05/16/2008 : 2:31:54 PM
|
Can you do one day off market for FHA? Who else?
quote:
Originally posted by williamspeaking
I'm 1 day off for full doc.
|
|
|
richrano
303 Posts |
Posted - 05/16/2008 : 5:59:10 PM
|
| WAMU is not wholesale anymore=try New Century-lol |
|
|
dmj30064
236 Posts |
Posted - 05/16/2008 : 10:07:23 PM
|
Get out of here with your useless comment. Idiot.
quote:
Originally posted by richrano
WAMU is not wholesale anymore=try New Century-lol
|
|
|
DaveDeal
66 Posts |
Posted - 05/17/2008 : 08:12:54 AM
|
So why is a house fresh-off the MLS harder to finance?
Just because it didn't sell? Drive down LTV?
Never understood Y |
|
|
slants
4301 Posts |
Posted - 05/17/2008 : 10:22:43 AM
|
quote:
Originally posted by DaveDeal
So why is a house fresh-off the MLS harder to finance?
Just because it didn't sell? Drive down LTV?
Never understood Y
The fact that the homeowner has already demonstrated to the lender that if they were to default, they may have difficulty marketing the property, but more importantly, they have demonstrated a desire to sell. Lenders have no interest in booking loans just to have them paid off shortly thereafter. They make money by keeping performing loans on the books. Hence the ysp recapture to the broker for early payoffs. |
|
|
dmj30064
236 Posts |
Posted - 05/17/2008 : 2:46:44 PM
|
| What mortgage companies are doing one day off MLS for a Rate/term refinance? |
|
|
joeyostjr
185 Posts |
Posted - 05/19/2008 : 11:49:51 AM
|
Citi just announced today that they are doing it.
Hope this helps |
|
|
dmj30064
236 Posts |
Posted - 05/19/2008 : 11:52:38 AM
|
Thank you greatly sir.
quote:
Originally posted by joeyostjr
Citi just announced today that they are doing it.
Hope this helps
|
|
|
5266052
96 Posts |
Posted - 05/19/2008 : 11:55:57 AM
|
| Also, 5th 3rd just started doing rate and term also with just one day off MLS |
|
|
hcf_ae
55 Posts |
Posted - 05/19/2008 : 12:36:53 PM
|
We can do 1 day off MLS.
Danielle Burgess
Account Executive
Central Banc Mortgage
720-275-7975 Direct
619-564-3489 Efax
Danielleb@centralbancmtg.com
|
|
|
HEAREP
218 Posts |
Posted - 05/19/2008 : 1:04:09 PM
|
quote:
Originally posted by dmj30064
What mortgage companies are doing one day off MLS for a Rate/term refinance?
We are doing it. |
|
|
| |
Previous Topic | Next Topic |
|
Search for: 
