| Author |
Previous Topic | Next Topic |
|
celloshred
1599 Posts |
 Posted - 05/21/2008 : 2:50:21 PM
|
Got an 80% Purchase (or 85%)
FULL DOC
New Conforming L/A of $528,000 (or $561,000)
DTI is high
Payment shock
785/687 Mids
DU says : Approve/Ineligible (loan amount)
Who will take this? |
|
CoralSnake
10014 Posts |
Posted - 05/21/2008 : 3:04:11 PM
|
All Jumbo COnforming loan amounts need a manual underwrite and DTIs cannot be higher than 45 back-end.
That being said, 5/3rd Bank will go off your findings for loan amounts up to 650k. |
|
|
aaron1976
381 Posts |
Posted - 05/21/2008 : 3:38:21 PM
|
| You can do this as a non-conforming product and go SIVA. But the rate will be higher. |
|
|
kalee3415
183 Posts |
Posted - 05/21/2008 : 4:02:31 PM
|
Hmmm. Why would he take it SIVA? Oh yeah, so he can "fix" his DTI. Gee, I bet there won't be any blatent fraud in that.
quote:
Originally posted by aaron1976
You can do this as a non-conforming product and go SIVA. But the rate will be higher.
|
|
|
celloshred
1599 Posts |
Posted - 05/21/2008 : 4:11:13 PM
|
| ha ha ha |
|
|
Clr2close
301 Posts |
Posted - 05/21/2008 : 4:44:34 PM
|
| Wolf i emailed you and left you a voice message |
|
|
mantixmortgage
2505 Posts |
Posted - 05/21/2008 : 4:47:35 PM
|
quote:
Originally posted by CoralSnake
All Jumbo COnforming loan amounts need a manual underwrite and DTIs cannot be higher than 45 back-end.
tru.
also, what "non conforming" lender will do this siva? |
|
|
dkendall1979
8001 Posts |
Posted - 05/21/2008 : 5:05:52 PM
|
| We could probably work this FHA. |
|
|
celloshred
1599 Posts |
Posted - 05/21/2008 : 5:10:39 PM
|
| i sent it through DU for FHA and gave me a 'refer/ineligible'... unless i did it wrong... |
|
|
| |
Previous Topic | Next Topic |
|
Search for: 
