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brown13
239 Posts |
 Posted - 06/05/2008 : 4:00:41 PM
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CA
LOS ANGELES COUNTY
88.696% LTV
FULL DOC 41.009/49.099 DTI
653 MID FICO
510K LOAN AMOUNT
575K APPRAISAL
BK BACK IN 1999 SOME CONSUMER LATES AFTER BK
R&T COMING OUT OF NEG AM (WACHOVIA)
0X30
WANTS A 30YR FIXED WILL CONSIDER ARM
LET ME KNOW WHAT YOU COULD DO |
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SoCalRay
2698 Posts |
Posted - 06/05/2008 : 4:03:24 PM
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FHA loan all the way
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brown13
239 Posts |
Posted - 06/05/2008 : 4:05:36 PM
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quote:
Originally posted by SoCalRay
FHA loan all the way
THATS WHAT I THOUGHT, BUT MY PRICING MANAGER SAID NO. |
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dkendall1979
10298 Posts |
Posted - 06/05/2008 : 4:06:25 PM
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You need a new pricing manager. This is a good FHA deal if in the right county.
Just saw LA County...
I'll get it funded for you. |
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brown13
239 Posts |
Posted - 06/05/2008 : 4:29:02 PM
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quote:
Originally posted by dkendall1979
You need a new pricing manager. This is a good FHA deal if in the right county.
Just saw LA County...
I'll get it funded for you.
COOL. ACCORDING TO THEM ITS BECAUSE SHE HAD LATES AFTER BK |
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velecico
3997 Posts |
Posted - 06/05/2008 : 4:35:05 PM
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That will kill it , I love AEs that post they will " fund it " without even looking at a file , your only shot if the lates were due to " cirscumstances beyond control " , sorry the " abusive hubby " story I have seen 1000 times will not work , EXTREME MEDICAL may not even work , only a death to the PRIMARY bread winner or a relocation/shutdown of factory , place of employment MAY swade a DE to approve it . so why where they late after the BK ?
We have a wholesale dept but dont do CA anyway , so good luck , love to find out if it closes |
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brown13
239 Posts |
Posted - 06/05/2008 : 4:37:39 PM
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| THE LATES WERE ONLY WITH CREDIT CARDS THE MORTGAGE WAS FINE. NO LATES |
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dkendall1979
10298 Posts |
Posted - 06/05/2008 : 4:37:58 PM
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I read the scenario, I didn't stutter.
I can only assume you're addressing me as the AE in your reply. If so, get over yourself. |
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velecico
3997 Posts |
Posted - 06/05/2008 : 4:43:01 PM
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No , I meant in general , so your DE will approve lates after BK ? |
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velecico
3997 Posts |
Posted - 06/05/2008 : 4:44:55 PM
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quote:
Originally posted by brown13
THE LATES WERE ONLY WITH CREDIT CARDS THE MORTGAGE WAS FINE. NO LATES
Thats probaly even worst , they did not learn the first time ? look at the BK schedule E , list of creditors , did it include credit cards ?
WAIT < I JUST REALIZED THE BK IS PAST 7 YEARS , IF YOU CAN GET AN A/E YOU WILL BE OK < GOOD LUCK |
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dkendall1979
10298 Posts |
Posted - 06/05/2008 : 4:49:23 PM
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This BK was 9yrs ago, that's a solid argument. We've had lates after the BK approved even when the BK was 3yrs ago. The only thing that holds us back is the stupid 580 minimum fico on manual rule. Other than that, everything is true HUD guidelines. On an FHA Jumbo, 620+ and we can paint the picture. We aren't going max on this (90% is good in FHA standards) and with the right approach, sure we can get this done.
quote:
Originally posted by velecico
No , I meant in general , so your DE will approve lates after BK ?
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brown13
239 Posts |
Posted - 06/05/2008 : 4:52:12 PM
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| JUST SEND YOU AN EMAIL. MY PRICING MANAGER SAID TO SEND IN THE BROKER PACKAGE I TOLD HIM HE NEEDS TO BE REPLACE AFTER YOU FUND THIS ONE. |
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velecico
3997 Posts |
Posted - 06/05/2008 : 4:53:22 PM
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I agree , we have seen AE with crap credit but had strong compsensating factors , I know LP use to be more forgiving than DU but now a days you never know , hope you get the deal |
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daronc
1254 Posts |
Posted - 06/05/2008 : 8:42:27 PM
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Let me know if you need help with FHA on this one....
*48-72 hour turn time on FHA |
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