| Author |
Previous Topic | Next Topic |
|
DOMNY
69 Posts |
 Posted - 06/10/2008 : 6:21:59 PM
|
| What is the fastest bank that you are currently using and how quick did you close the deal........from a full package to a clear to close??? |
|
jbelman
254 Posts |
Posted - 06/17/2008 : 08:38:54 AM
|
quote:
Originally posted by DOMNY
What is the fastest bank that you are currently using and how quick did you close the deal........from a full package to a clear to close???
Wells Fargo has done me Right...I've closed files in 3 weeks or less.. Usually its because I send all conditions at once. Very good customer service and no need to depend on A.E's to call you back. They have a 1-800 number where you can check status 24/7 great. Give them a call. |
|
|
jzorig7
40 Posts |
Posted - 06/17/2008 : 10:11:17 AM
|
We have closed in three weeks in the past, but that is not the norm. 4 weeks is doable. If you need help it depends on the parameters of your deal. I can help if you need it.
Thanks,
Jim Zern
jzern@remingtonfg.com |
|
|
BigFire
2962 Posts |
Posted - 06/17/2008 : 5:13:59 PM
|
| We can close fast on either Wachovia or Portfolio - but we need a complete package - not piecemeal. Call to discuss, thanks, Jay 310.498.2332. |
|
|
jbelman
254 Posts |
Posted - 06/17/2008 : 8:54:22 PM
|
quote:
Originally posted by DOMNY
What is the fastest bank that you are currently using and how quick did you close the deal........from a full package to a clear to close???
Portfolio lenders is what you want.. not those companies that say can help you and close files ASAP. .. .02 |
|
|
eboatdrink
10 Posts |
Posted - 06/18/2008 : 4:51:40 PM
|
| Provident Funding. 4 hour approvals w/ full package and 48 hr closings. |
|
|
EricC
5 Posts |
Posted - 06/20/2008 : 12:39:08 PM
|
| SunTrust Mortgage has phenomenal service. CLEAN FILES can move through VERY FAST. Had a refi 2 mos. ago submitted - approved - doc'd in 3 days. |
|
|
troysims
2 Posts |
Posted - 06/25/2008 : 6:38:27 PM
|
| Provident Funding. You have got to be kidding. They don't close anything anymore with out Stips on top of stips. I had a 725, Full Doc 80% NOO purchase with 100,000. liquid reserves and the threw out the appraisal. |
|
|
jengel
286 Posts |
Posted - 07/02/2008 : 11:38:27 AM
|
Homecomings, 1 day in underwriting (Conforming paper), real clean file, had no stips, closed 3 days after, out of the Charlotte, NC servicing center, soon to merge with their Dallas Ops. Center...if you had stips, they review them in 1 day, can close 48 hours later...
Can not believe Provident actually posted 48 hour closings... |
|
|
katbunk
2121 Posts |
Posted - 07/02/2008 : 12:11:37 PM
|
| Chase. But I believe in a lot of cases your lender is only as good as your A/E. They can make a huge difference. |
|
|
yooperkid
19 Posts |
Posted - 07/02/2008 : 1:47:38 PM
|
Polaris Home Funding for FHA, RD and VA
2 day turn on all underwrites guaranteed and you pull your own closing packages.....enough said :) |
|
|
dan@compete4rate
26 Posts |
Posted - 07/02/2008 : 4:56:02 PM
|
Your right about provident, they are nothing more than a dangling carrot lender. yeah they advertise high YSP but will only kill your deal now matter how clean it is.
Direct Mortgage Corp is my Choice for fast closings, I sent in the same file to my AE Josh Juarez on a Tuesday, Thurs it was CTC and Friday funded... 4 days... I have yet to find a lender that can turn a file that quick and do it consistently. By the way that was the 3rd bailout they had done for me, needless I dont even waste my time with provident I go right to Direct Mortgage. |
|
|
judgement
26 Posts |
Posted - 07/03/2008 : 12:49:58 PM
|
quote:
Originally posted by dan@compete4rates.com
Your right about provident, they are nothing more than a dangling carrot lender. yeah they advertise high YSP but will only kill your deal now matter how clean it is.
Direct Mortgage Corp is my Choice for fast closings, I sent in the same file to my AE Josh Juarez on a Tuesday, Thurs it was CTC and Friday funded... 4 days... I have yet to find a lender that can turn a file that quick and do it consistently. By the way that was the 3rd bailout they had done for me, needless I dont even waste my time with provident I go right to Direct Mortgage.
That's probably because Provident doesn't do bailouts. |
|
|
glsmith194
33 Posts |
Posted - 07/03/2008 : 2:14:24 PM
|
| I think Flagstar, Provident Funding are tops! |
|
|
StephanieGibbons
50 Posts |
Posted - 07/09/2008 : 4:36:43 PM
|
Our turn time on Conventional loans right now is literally less than a day. We are pulling them as fast as we get them as we are not getting many due to market changes. FHA accepts are running 3 days.
Stephanie |
|
|
slyder1z
32 Posts |
Posted - 07/10/2008 : 07:30:43 AM
|
FLAGSTAR BANK current turntimes
Loans < or = 80 LTV: 6 hours
Loans > 80 LTV: 2 days
Gov't Purchase: 4 days
Gov't Refi: 4 days
Cond. < or = 80 LTV: 6 hours
Cond. > 80 LTV: 1.5 days
Keeping in mind that our Loantrac system allows you to immediatly order closing docs and the wire for a closing within hours. The turntimes also incude our manual underwriting.
Best,
|
|
|
rmarrero
7 Posts |
Posted - 07/23/2008 : 1:27:18 PM
|
Liberty Home Lending
FHA Express - Close Your FHA Loan in 3 Business Days.
Great Rates, Great Service.
• SPEAK DIRECTLY WITH UNDERWRITERS!
• FAST BROKER APPROVALS!
• EXCELLENT RATES!
• GREAT TURN TIMES!
www.LibertyB2B.com
Rich Marrero
866-405-0600 ext. 297
RMarrero@LibertyB2B.com |
|
|
YoniLateiner
13 Posts |
Posted - 07/24/2008 : 09:51:29 AM
|
With conforming full packages, we are getting from submission to docs in 5 days.
Give us a try. |
|
|
mfigert
4 Posts |
Posted - 07/24/2008 : 10:19:01 AM
|
| Flagstar or Amtrust...I agree what others have said about Provident...stips on top of stips...and they won't give you a lock extension except for worse case pricing. If you dont' get it closed and rates go up and you need to extend...your out of luck. Happened to us more than once. |
|
|
jmcguire7
37 Posts |
Posted - 08/03/2008 : 4:42:42 PM
|
| I have had EXCELLENT service with SunTrust ... submit on a Monday and close Friday even if I had stips! |
|
|
DMCSteve
4 Posts |
Posted - 08/04/2008 : 8:18:48 PM
|
Few people have probably heard of our company: Direct Mortgage Wholesale
Our experienced AE's are KNOWLEDGEABLE and RELIABLE and when you work with them to submit your loans, you can get loans done in 3 days - rushes done faster (but have a good reason), docs generally in 1 day; sometimes same day.
- Online Loan Price/Search Engine - Get Full File AUS Approval in Minutes
- Lock Your Loans to Midnight PST
- Pull Your DU/LP in Our System (No Charge with 60%/70% Pull Throurgh)
- Change Your Locked Rate Online (Same day as Original Day's Pricing)
- Float Down Option
- One Time Loan Extension Policy
- Paperless Loan Submission (Don't lose a day sending your file)
- VERY Competitive FHA, VA and Agency JUMBO Rates
www.DirectMortgageWholesale.com
Steve Jackson
Regional Sales Manager
866-677-6403 x82 |
|
|
TheMoneyStoreguy
298 Posts |
Posted - 08/05/2008 : 06:12:02 AM
|
The Money Store is extremely quick and deliver a high level of customer service and attention. Our make sense underwriting approach gives us the advantage of closing a lot of loans that our competitors can not. Manual underwrites down to 580 score, with DU approval down to 550. DTI's up to 60 with compensating factors. 24 to 48 hour underwriting turn times.
Call or email to discuss, |
|
|
bkdg100
3 Posts |
Posted - 08/08/2008 : 6:56:41 PM
|
| why does themoneystore aka homeeq top the # of complaints ( almost 300 )on http://www.ripoffreport.com/searchresults.asp?q1=ALL&q4=&q6=&q3=&q2=&q7=&searchtype=0&submit2=Search%21&q5=Homeq&Search=Search |
|
|
harleedog
1 Posts |
Posted - 08/09/2008 : 11:50:51 AM
|
To whom it may concern:I need a commercial lender to fund 30 projects from 1 mil -1bil.Im tired of the lies and scams and upfront fees.My clients have viable projects and collateral and skin in the game and Cant find a true lender.I have a couple of hedgefunds Im currently using but I need another servicing arm for these files.Please call Brenda 530-966-5443
Level5 Consulting Group/sole proprietor |
|
|
TheMoneyStoreguy
298 Posts |
Posted - 08/11/2008 : 11:49:19 AM
|
The Money Store has no affiliation with HomeEQ... That is the servicer to which these borrowers are complaining about.
|
|
|
Nico
3056 Posts |
Posted - 08/14/2008 : 12:19:35 AM
|
Funny thing is I can show you spreadsheets of hundreds of transactions, and as long as the turn times don't exceed 8-9 business days, the files close in about the same amount of time. 8-9 days is the threshold to where anything taking longer, the average life time of the transaction starts to increase little by little.
I think it mainly depends on processor skill, and knowledge of the bank you work with. There are LOs that can meet 30 days locks all day with a 10 day underwriting turn time, and then there's LOs that are always extending 30 day locks with 24-48 hour turn times.
I know it's crazy, but it's fact. The numbers don't lie. |
|
|
AmerisaveBroker
92 Posts |
Posted - 08/17/2008 : 12:57:11 AM
|
quote:
Originally posted by DOMNY
What is the fastest bank that you are currently using and how quick did you close the deal........from a full package to a clear to close???
Call or email me on those deals here at Amerisave. Believe it or not I can use every single lender mentioned and offer better pricing for the same exact program through that lender. Turn-times alike!! |
|
|
AmerisaveBroker
92 Posts |
Posted - 08/19/2008 : 02:21:08 AM
|
| All of the mentioned Lenders are super fast. You MUST sub a full file period. Most people don't. Your deal will fly through always with full files no matter the lender in this market. |
|
|
FHAPRO
8 Posts |
Posted - 08/26/2008 : 6:13:32 PM
|
[quote]Originally posted by TheMoneyStoreguy
The Money Store is extremely quick and deliver a high level of customer service and attention. Our make sense underwriting approach gives us the advantage of closing a lot of loans that our competitors can not. Manual underwrites down to 580 score, with DU approval down to 550. DTI's up to 60 with compensating factors. 24 to 48 hour underwriting turn times.
Call or email to discuss,
[/quote
Do you think they will make it? Seems they are doing some pretty rough stuff, not a good way to get started in the FHA business. |
|
|
TheMoneyStoreguy
298 Posts |
Posted - 08/27/2008 : 07:01:10 AM
|
"FHAPRO?"
The Money Store has been originating FHA loans since the 60's. Not sure where you are getting your information. Do your research before posting. |
|
|
FHAPRO
8 Posts |
Posted - 08/28/2008 : 06:09:50 AM
|
quote:
Originally posted by TheMoneyStoreguy
"FHAPRO?"
The Money Store has been originating FHA loans since the 60's. Not sure where you are getting your information. Do your research before posting.
The original moneystore owned by Allen Turtletaub and this one owned by Morty and Larry Dear have nothing to do with one another, Morty is the only link, they bought the tradename and were previously known as MLD Mtg. |
|
|
FHAPRO
8 Posts |
Posted - 08/28/2008 : 06:22:26 AM
|
quote:
Originally posted by TheMoneyStoreguy
"FHAPRO?"
The Money Store has been originating FHA loans since the 60's. Not sure where you are getting your information. Do your research before posting.
The FHA wholesale platform that the moneystore has now started in April 2008.The only member from the original moneystore that was purchased by First Union is Morty dear. The ae's that are selling the products were in 5th grade when all this was happening. The original MS was a retail operation and in its hayday a very solid and well run company. The new MS is run by some pretty good people also. I have worked with some of their operations people at a previous company. Good luck with them, but no the original has little or nothing to do with this one! |
|
|
TheMoneyStoreguy
298 Posts |
Posted - 08/28/2008 : 06:50:04 AM
|
| You are only partially correct in your facts, but unfortunately I cannot post any company information, nor ownership on this forum. The real question has to be... Why are you posting anonymously (no company name) negative information about one of your competitors? That is not going to be received in the manner in which I hope you intended. I am not sure what you are trying to achieve here, nor do I understand why do you really care about the longevity of a company that you do not work for? |
|
|
FHAPRO
8 Posts |
Posted - 08/28/2008 : 3:14:21 PM
|
quote:
Originally posted by TheMoneyStoreguy
You are only partially correct in your facts, but unfortunately I cannot post any company information, nor ownership on this forum. The real question has to be... Why are you posting anonymously (no company name) negative information about one of your competitors? That is not going to be received in the manner in which I hope you intended. I am not sure what you are trying to achieve here, nor do I understand why do you really care about the longevity of a company that you do not work for?
No I didnt post any negatives. The moneystore info you gave was wrong I just corrected you. I dont need to post my name because I'm not looking to advertise like you are. If you do some real homework you will see that this is not the moneystore of old. You said they have been doing loans since the 60's, the original was on Morris avenue in Union NJ not in Florham Park. |
|
|
TheMoneyStoreguy
298 Posts |
Posted - 08/28/2008 : 4:59:56 PM
|
If anyone cares about any of this, google "the money store" or go to www.moneystore.com, and click "about us".. All of the information is public, and no need for debate...
I have to move on from this post and will not be back for any further comments..
|
|
|
FHAPRO
8 Posts |
Posted - 08/28/2008 : 8:30:47 PM
|
quote:
Originally posted by TheMoneyStoreguy
If anyone cares about any of this, google "the money store" or go to www.moneystore.com, and click "about us".. All of the information is public, and no need for debate...
I have to move on from this post and will not be back for any further comments..
The original Moneystore was bought by 1st Union in 1998 it was shut down by 1st union in June of 2000, 2350 people who worked at the moneystore lost their jobs. 1st Union wrote off 2.6b in debt on this transaction. You work for someone who purchased the name and that is all. I have no idea why you continue to play this out and direct people to the website for more information since it is apparent you never read the retail website which clearly states that "the name" is synonymous with over 40 years of lending and trademarked in 2007. The owners names are right on the retail website also. No need to comment any further about your company which you know little or nothing about. |
|
|
FHAPRO
8 Posts |
Posted - 08/28/2008 : 8:34:13 PM
|
quote:
Originally posted by katbunk
Chase. But I believe in a lot of cases your lender is only as good as your A/E. They can make a huge difference.
Very well said, the ae who gets involved and answers his/her phone are the ones who do well even in a down market. Sometimes the ae can make the company a lot better then they really are. |
|
|
Dbruce3010
2 Posts |
Posted - 10/22/2008 : 12:35:42 PM
|
| Polaris Home Funding is fast and great to wowk with. |
|
|
gwagner
3663 Posts |
Posted - 10/22/2008 : 8:44:47 PM
|
MOM & DAD - JK...LOL 
quote:
Originally posted by DOMNY
What is the fastest bank that you are currently using and how quick did you close the deal........from a full package to a clear to close???
|
|
|
bpmurtiff
12 Posts |
Posted - 10/23/2008 : 1:15:25 PM
|
Flagstar Bank turntimes
Underwriting New Submissions
Check & Close: 3 hours
Loans < or = 80 LTV: 3 hours
Loans > 80 LTV: 1 day
Gov't Check & Close: 4 hours
Gov't Purchase/Refi: 1 day
|
|
|
egamarro
80 Posts |
Posted - 10/28/2008 : 9:47:15 PM
|
| MetLife Home Loans previously First Horizon Agoura Hills has been closing my loans 5-10 days from submission full Package only. |
|
|
chrisb
88 Posts |
Posted - 10/29/2008 : 08:23:18 AM
|
Can anyone give me any feedback on Plaza Home Mortgage?
Looking for pricing feedback and turntimes. Thanks. |
|
|
South Shore
380 Posts |
Posted - 10/31/2008 : 1:28:48 PM
|
FLAGSTAR BANK, as of 10/31
Underwriting New Submissions
Loans < or = 80 LTV: 2 hours
Loans > 80 LTV: 1 day
Gov't Purchase: 4 hours
Gov't Refi: 4 hours
Underwriting Conditions
Cond. < or = 80 LTV: 7 hours
Cond. > 80 LTV: 3 hours
Gov't Cond.: 4 hours |
|
|
oquinnj
9 Posts |
Posted - 11/03/2008 : 1:12:59 PM
|
| Chase has been SLOW! Condition on condition fro great borrowers. Unblieveable. |
|
|
STELIOS
18 Posts |
Posted - 11/06/2008 : 6:49:15 PM
|
| Wells Fargo is the quickest, Chase is o.k., Suntrust is the slowest |
|
|
Paul-FHA
69 Posts |
Posted - 11/14/2008 : 10:43:01 AM
|
| We are 24-48 hour turn times, close in 10 business days... assuming you do your part and submit a COMPLETE file :) |
|
|
| |
Previous Topic | Next Topic |
|
Search for: 
