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Shuggins
1011 Posts |
 Posted - 06/03/2008 : 10:03:50 AM
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I have the following list of lenders that I can use for FHA. I have a deal I am working on that needs to close by the 11th of July and I do not want any major problems to come up.
So my question is of the following lenders who would you use.
American Sterling Bank
Countrywide
DK or 1st Am
Flagstar
Great Northern Financial
Liberty
Macquarie
Mortgage IT
Security Atlantic
Suntrust
TBW
Universal Mortgage Corp.
US Bank
USA Homeloans
I am looking for your input on these guys and how they are doing on your files. |
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Bob H
300 Posts |
Posted - 06/03/2008 : 10:09:36 AM
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Senderra is great on manuals (580+ of course). They will go pretty high on ratio's with compensating factors.
Sierra Pacific is excellent on the clean deals (approve/eligible 600+). Great pricing, quick turn, and reasonable conditions.
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lobb
190 Posts |
Posted - 06/03/2008 : 10:44:55 AM
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| Michigan Mutual, University Lending, United Wholesale |
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dkendall1979
10261 Posts |
Posted - 06/03/2008 : 10:58:16 AM
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| I didn't make the list :( |
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lobb
190 Posts |
Posted - 06/03/2008 : 11:01:30 AM
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you do not cover my state. Sorry dude.  |
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EquitySmart
1240 Posts |
Posted - 06/03/2008 : 11:07:54 AM
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| TBW is the only lender on your list we use with any regularity - they often have the best rate if credit scores are between 580 and 600 (since they have no price hits for this FICO) and they will manually underwrite files with credit scores under 580 (with only 1.5% price hit for this FICO) - the underwriting times are a little slow = 2-3 weeks on average, but they seem to have good common sense underwriting for most of our files. |
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Shuggins
1011 Posts |
Posted - 06/03/2008 : 11:17:26 AM
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quote:
Originally posted by EquitySmart
TBW is the only lender on your list we use with any regularity - they often have the best rate if credit scores are between 580 and 600 (since they have no price hits for this FICO) and they will manually underwrite files with credit scores under 580 (with only 1.5% price hit for this FICO) - the underwriting times are a little slow = 2-3 weeks on average, but they seem to have good common sense underwriting for most of our files.
I hear ya. Unfortunatley I do not want ot risk 2-3 weeks just to get a list of conditions.
Anyone else have any opinions on the lenders I have listed? |
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