| Author |
Previous Topic | Next Topic |
|
Danno1500
12 Posts |
 Posted - 05/22/2008 : 12:50:53 PM
|
Are stated loans going away in the state of Illinois??? Law SB1167 goes into effect June 1st. Are lenders still doing stated in IL after June 1st? I got an email saying Suntrust was pulling all reduced doc (including LP doc waiver or verbal VOE only) from Illinois. It seems the law states that you MUST verify income and ability to repay.
If you work for a lender that does stated, please let me know if you have heard that IL will no longer allow stated? If you work in IL and know what lenders are doing regarding this bill - please let me know...
Thanks-
InDebtDan |
|
rijuroy
347 Posts |
Posted - 05/22/2008 : 12:59:53 PM
|
| this is a very good question .. I got an email only from suntrust ... not sure why not from any other lender ... I remember during hb4050 pilot program all lenders sent out emails regarding not lending in any of the selected zip codes.. I will love to hear something about this |
|
|
| |
Previous Topic | Next Topic |
|
Search for: 
