| Author |
Previous Topic | Next Topic |
|
financebiz
623 Posts |
 Posted - 05/08/2008 : 4:25:47 PM
|
My company is FHA Approved, but non of my Wholesale Lenders are allowing the FHA 203K Rehab since April 2008.
I've tried, TBW, DK Funding, M&T, Flagstar, Wells Fargo, etc, etc,etc......
Are there any Wholesale Lenders left for this program??????? |
|
financebiz
623 Posts |
Posted - 05/08/2008 : 4:55:25 PM
|
| Any ideas?????? |
|
|
gcapozzoli
138 Posts |
Posted - 05/08/2008 : 4:57:22 PM
|
go to the page below and fill in the info you are looking for and at the bottom click 203
good luck
http://www.hud.gov/ll/code/llslcrit.cfm |
|
|
financebiz
623 Posts |
Posted - 05/08/2008 : 5:05:07 PM
|
quote:
Originally posted by gcapozzoli
go to the page below and fill in the info you are looking for and at the bottom click 203
good luck
http://www.hud.gov/ll/code/llslcrit.cfm
Thank you. I have done this, but, this does not help. This search shows lenders, but with FHA, we are the lender and the bank is called the sponsor. When I search it shows my broker name.
I need a sponsor, which is a wholesale lender?
Anyone else????????
|
|
|
meiyakim
48 Posts |
Posted - 05/08/2008 : 5:12:58 PM
|
My understanding is there is no more broker 203ks or 203k.
Wells, countrywide, and maybe us bank will monopolize these opportunities. I am finding right now that even with minimal issues bank owned property sellers are refusing to allow FHA offers. cash, rehab/constr/or conventional |
|
|
lunarhamster
3125 Posts |
Posted - 05/08/2008 : 5:30:39 PM
|
| M & T, and Freedom Mortgage do them, I tried to get one done a couple of weeks ago, what a pain in the azz, I switched it to a 203B, not worth the trouble for a small amount of repairs. |
|
|
financebiz
623 Posts |
Posted - 05/08/2008 : 5:36:38 PM
|
quote:
Originally posted by lunarhamster
M & T, and Freedom Mortgage do them, I tried to get one done a couple of weeks ago, what a pain in the azz, I switched it to a 203B, not worth the trouble for a small amount of repairs.
I need about $10,000 in repairs. Is the FHA 203K the only way to structure this? |
|
|
financebiz
623 Posts |
Posted - 05/08/2008 : 5:43:58 PM
|
quote:
Originally posted by lunarhamster
M & T, and Freedom Mortgage do them, I tried to get one done a couple of weeks ago, what a pain in the azz, I switched it to a 203B, not worth the trouble for a small amount of repairs.
M&T stopped this week and Freedom Mortgage, per their website, will no longer do anything above 97% after April 7, 2008. |
|
|
lunarhamster
3125 Posts |
Posted - 05/08/2008 : 6:25:03 PM
|
| Holy huge pain in the azz, good luck. |
|
|
djacobson
133 Posts |
Posted - 05/09/2008 : 10:12:06 AM
|
| We do 203K loans send me an email and I will forward our rate sheet. |
|
|
gsgroupinc
1944 Posts |
Posted - 05/09/2008 : 10:13:43 AM
|
quote:
Originally posted by financebiz
quote:
Originally posted by lunarhamster
M & T, and Freedom Mortgage do them, I tried to get one done a couple of weeks ago, what a pain in the azz, I switched it to a 203B, not worth the trouble for a small amount of repairs.
M&T stopped this week and Freedom Mortgage, per their website, will no longer do anything above 97% after April 7, 2008.
M & T did not stop in OHIO Flagstar does not do the wholesale |
|
|
lshaull
66 Posts |
Posted - 05/09/2008 : 10:44:59 AM
|
| I currently have one in with Flagstar. You can broker it but if they are buying a hud with 100 dollars down and doing rehab- it has to go retail and they will give you 1% |
|
|
gsgroupinc
1944 Posts |
Posted - 05/21/2008 : 10:17:59 AM
|
| If freedom is doing these please supply me with a contact. |
|
|
gsgroupinc
1944 Posts |
Posted - 05/21/2008 : 11:24:12 AM
|
| BUMP |
|
|
mortgagemoneyfas
363 Posts |
Posted - 05/21/2008 : 11:56:53 AM
|
Towne Mortgage &
brokercap.com/203k |
|
|
1paul
275 Posts |
Posted - 05/23/2008 : 1:50:13 PM
|
Freedom Mortgage no longer does them....at least in Florida
My AE had just sent me an e-mail, that they no longer do them. |
|
|
BB
989 Posts |
Posted - 05/23/2008 : 3:31:59 PM
|
American Southwest Mortgage (no New York, no Virgin Islands)
203 K Streamlines Only
First Guaranty Mortgage –
203 K Streamlines Only
AR, GA, ID, LA, ME, MA, UT, RI, NY, WA, WY, MN, MT, NV, NH, SD
|
|
|
kellamtom
607 Posts |
Posted - 05/23/2008 : 4:23:45 PM
|
universal mortgage corporation
203k streamlines only, which means repairs less than 35k |
|
|
4robinst
22 Posts |
Posted - 05/23/2008 : 5:39:44 PM
|
| WE do them in 9 states 203k |
|
|
| |
Previous Topic | Next Topic |
|
Search for: 
