Jumbo stated

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frawgster

58 Posts

Posted - 05/05/2008 : 3:44:35 PM

I got a pretty solid loan I'm trying to place. Details below.

Loan AMT - $795000
LTV - 54%
SFR
Owner occ
Rate/term refi
Self-employed borrower
Seasoned verified liquid reserves of $2.1M in a money market account
785 mid credit score
California property (Rancho Palos Verdes)

Our borrower has been a property manager for 20 years. She owns 6 rental properties (2 apartment buildings with 5+ units, and 4 4-plexes).

We have to go stated because she has not filed taxes for 2005, 2006, and 2007. Why the IRS has not come knocking on her door, I have no idea. Borrower currently has a 5 yr I/O loan with no prepay that will be adjusting in August. She wants another 5 yr I/O.

Can anyone touch this deal? If anyone can, can anyone do this at a rate that's below 6.5%?

Any help would be appreciated. Thanks!

sessa

65 Posts

Posted - 05/06/2008 : 01:20:59 AM

If we were doing this now, the rate would be very close to 6.5. We're working on a loan very similar. If you want more specifics, email contact information.
sessa

dorian10

24 Posts

Posted - 05/06/2008 : 06:54:53 AM

I don't think a SIVA jumbo w/a rate of 6.5% exists. You might try Countrwide Fast and easy.

dkendall1979

9516 Posts

Posted - 05/06/2008 : 08:24:26 AM

JMAC Lending, Stearns Wholesale, Luther Burbank, Union Bank of California, First Federal Bank of California to name a few.

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