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bigbob
98 Posts |
 Posted - 05/13/2008 : 3:57:29 PM
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| I know that the markets have changed, and it looks like unless you have good to excellent credit the only game in town is FHA. If there are some Subprime companies left let it be known, with your contact info and some ideas as to what you REALLY can still do. |
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bigbob
98 Posts |
Posted - 05/13/2008 : 6:40:24 PM
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| Are they all gone? Come on fellas there has to be 1 or 2 of you left out there! |
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ugaagent
301 Posts |
Posted - 05/13/2008 : 6:48:46 PM
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| Wow, not a ONE except for Accredited??? I'm starting a subprime company then. With everyone gone and knowing what we now know whoever comes back into the market is going to make a killing if done right. |
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jillstatz
487 Posts |
Posted - 05/13/2008 : 6:54:06 PM
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| US Bank still has there sub-prime product also...rates aren't very pretty though. |
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nowbroker
1071 Posts |
Posted - 05/13/2008 : 7:17:38 PM
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| Citimortgage |
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clos
95 Posts |
Posted - 05/13/2008 : 7:31:53 PM
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Wilmington still has subprime.
I also have it but my pricing is really bad and you need a 90% LTV and a 590 fico |
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Ryan Robertson
192 Posts |
Posted - 05/14/2008 : 10:13:25 AM
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| We continue to do sub-prime, pretty much all full doc or bank statements but it doing some good business on it. Give me a call. |
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steela
186 Posts |
Posted - 05/14/2008 : 10:17:03 AM
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ugaagent is exactly right. Some entity jumps in and starts writing sub prime business with a max dti of 50 of NET, full doc only, 90 LTV max and they'll make a killing.
Just gotta find someone to buy the paper. |
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jjacovo
96 Posts |
Posted - 05/14/2008 : 10:18:34 AM
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| Call Bed Bug Eddy. 75% LTV max, 30 yr fixed @ 11%, no min fico |
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mudshark
3737 Posts |
Posted - 05/14/2008 : 10:25:42 AM
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| Larry Stoken is doing it. He just bought out New Century. The janitor is letting him use the offices for $20 and a bottle of Johnnie Walker per day. It's supposed to be a secret. |
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djorge44
1206 Posts |
Posted - 05/14/2008 : 10:59:09 AM
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My former New Century Rep works for Senderra now...It is funny talking to him every blue moon. The company I used to work for used to send him 110 files a month average loan amount was 168-174K from 2004 through the end.
Not sure how many loans he is closing now. He was smart though and never spent a lot of money. |
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vegas41
32 Posts |
Posted - 05/14/2008 : 4:08:39 PM
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| Why would you want subprime? Working with FHA investor that has no min credit scores required; full doc only. |
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