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cmattson
73 Posts |
 Posted - 05/06/2008 : 06:29:39 AM
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| I had a jumbo loan with US Bank that they just denied. My borrower has great credit but 47% back end, they kicked me an approval but failed to tell me that they qualify them off 1% of the loan amount of the 2nd? The 2nd is for 215k, so even though the payment is actually 1100, they are qualifying them as if the payment in 2150. Does anyone know who has a comparable product? |
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mdube
44 Posts |
Posted - 05/18/2008 : 5:26:48 PM
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I can do 2nds on my heloc program but I cannot do wholesale deals. I can only do retial. If I can help you close a loan where you are doing the first mortgage and need a 2nd let me know. My criteria is 720+ fico (Experian only) no income verification if deal is solid, and up to 89.9% LTV on primary home and 2nd home. ME/NH/MA/VT only. Helocs and 2nd mtg loans up to 500k. 30-yr fixed 2nd mtg loans as well. I've done a couple for some other loan officers who needed a 2nd mtg to help close their first mtg. I will cross-refer with 1st mtg customers that I cannot do. Let me know if I can help.
Marc |
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