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yvonnel41
140 Posts |
 Posted - 05/24/2008 : 6:24:36 PM
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Hello:
Can anyone do an 85% LTV Purchase in CA, and close and fund before June 5th,2008, with a Loan Amt. of 610k..Fico is over 700?
I was told HSBC has such a program, but don't have an AE contact for N. Cal.
Prefer SIVA or VOE, have full package ready.
Previous LO left her company, left all files sitting as a means of revenge, and the Seller has an impending Tax Lien Sale coming.
Thanks to all, and Happy Memorial Day!!
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EquitySmart
1240 Posts |
Posted - 05/24/2008 : 6:29:02 PM
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| Only 1 week to close? Good luck. Why wasn't the application submitted earlier? |
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yvonnel41
140 Posts |
Posted - 05/24/2008 : 6:34:02 PM
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Hi Sam:
LA working the deal dropped the ball, quit and left all of her files to be found by her company. It wasn't until people started calling that they realized she did this. I submitted this file in March, can you believe it, and have gone through Title issues, reappraisals,and the whole gamut only to get here with her leaving!...LOL
I tell you some people have no morals when performing their duties..
I know it is difficult, but I have to ask as it is my obligation to my client..Thanks for taking the time to reply. |
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EquitySmart
1240 Posts |
Posted - 05/24/2008 : 6:39:43 PM
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| Wow - that REALLY *****. The best thing you (or the loan officers manager) can do is advise the client they will most likely not close on time, so they can start negotiating an extension to the closing date... Hopefully the sellers will be understanding... |
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yvonnel41
140 Posts |
Posted - 05/24/2008 : 6:41:53 PM
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| Tax sale forthcoming and we were already given one extension by the City..Yes really *****, and have never seen anything like it! |
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EquitySmart
1240 Posts |
Posted - 05/24/2008 : 6:58:00 PM
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| Hopefully you know an underwriting manager who will sympathize with your situation and rush your file through underwriting to help you get this closed. GOOD LUCK! |
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slants
4309 Posts |
Posted - 05/25/2008 : 08:43:44 AM
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"Prefer SIVA or VOE" - Is it stated wage earner? That could be a problem. Check with these who advertise fast turn times:
WWW.STEARNSWHOLESALE.COM
Jumbo Conforming – loan amounts up to $729,750 (Based on FHA County MSN limits).
Still looking for a 5/1 Jumbo?
Check out our JUMBO PREMIER program on page 2.
NO ADJUSTMENT for stated/verified.
www.MFGBanking.com
UNDERWRITERS THAT WANT TO HELP US MAKE IT WORK!!
UNDERWRITING IN JUST HOURS NOT DAYS!!
One Day Docs
Handy email for scenarios and pricing ! |
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peter
4937 Posts |
Posted - 05/25/2008 : 10:49:46 PM
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Yvonne. Yes, I got an e-mailed flyer from HSBC about this 85% LTV
but not sure if it is conforming jumbo loan amount.
You may want to call HSBC, 1-800-273-7039 or
https://webloan.us.hsbc.com to find the A/E for N. Cal.
I believe Union Bank of California Wholesale does have
a low doc or SIVA for 1st and a piggyback 2nd to 90% CLTV
for their "Low Doc" which may be equivalent to SIVA, and this
is up to $50oK L/A subject to a min FICO of 680.
Call 858-496-6808 for your N. Cal A/E.
Peter
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slants
4309 Posts |
Posted - 05/25/2008 : 10:54:13 PM
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quote:
Originally posted by peter
Yvonne. Yes, I got an e-mailed flyer from HSBC about this 85% LTV
but not sure if it is conforming jumbo loan amount.
You may want to call HSBC, 1-800-273-7039 or
https://webloan.us.hsbc.com to find the A/E for N. Cal.
I believe Union Bank of California Wholesale does have
a low doc or SIVA for 1st and a piggyback 2nd to 90% CLTV
for their "Low Doc" which may be equivalent to SIVA, and this
is up to $50oK L/A subject to a min FICO of 680.
Call 858-496-6808 for your N. Cal A/E.
Peter
Peter, do these allow W2'd or are they SE only? |
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peter
4937 Posts |
Posted - 05/25/2008 : 11:11:03 PM
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Slants, I have no further info as I'am not approved
with Union Bank and have not inquired deeper into their
guidelines. You might want to call them and ask for the
A/E to respond. I am sure they do have some niches on
Jumbo low doc as they are the only bank that still has
piggyback 2nds to 90% for refi and purchase.
Peter |
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