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meagherr
331 Posts |
 Posted - 06/04/2008 : 11:15:39 AM
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Hey BO,
I just had a broker tell me that a retail shop stole a rate/term refi from him because the bank was doing a streamline refi on the borrower where they didn't need any income documentation. I know that you can do this thru FHA, but do banks out there have programs for their current borrowers that would mirror FHA streamline's. Thanks for any info you can share on this. |
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EquitySmart
1240 Posts |
Posted - 06/04/2008 : 12:01:23 PM
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| The conventional streamline refinance option is generally only available to retail lending (obviously only with the lender that is currently servicing the loan) - it is very difficult to find lenders that have conventional streamline refinance options for brokers... |
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SoCalRay
2698 Posts |
Posted - 06/04/2008 : 12:05:24 PM
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Fannie and Freddie do allow for streamline refinancing but it is difficult to find a wholesale program for it.
Did a bunch of them on suntrust loans in 99
It used to be easy 8 years ago before this mess of no one knows who the investor is. |
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