JUMBO LOANS ANYWHERE??

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kato

120 Posts

Posted - 07/03/2008 : 2:19:49 PM

Are there any banks selling JUMBO loan? Someone told me there were a couple of banks but could not get in contact with them. 'Someone has a list?

mojojojo_1

846 Posts

Posted - 07/03/2008 : 2:20:53 PM

http://www.ingloans.com/wholesale/index.html

rdcurry

406 Posts

Posted - 07/03/2008 : 2:24:50 PM

Your looking to buy loans ?

kato

120 Posts

Posted - 07/03/2008 : 2:33:44 PM

No, I am looking for JUMBO loans programs.

mojojojo_1

846 Posts

Posted - 07/03/2008 : 2:35:51 PM

homecommings?

davidfr

1172 Posts

Posted - 07/03/2008 : 3:54:49 PM

quote:
Originally posted by kato

Are there any banks selling JUMBO loan? Someone told me there were a couple of banks but could not get in contact with them. 'Someone has a list?

Everyone still does Jumbos. Most people just have crappy pricing. What are you looking for?

ooslimm

929 Posts

Posted - 07/03/2008 : 11:20:02 PM

David Kendall at Trust One has good pricing with great CLTV's on Jumbo. Do a search on here and he should be able to take care of you.

ross@rhcooperltd

52 Posts

Posted - 07/04/2008 : 05:22:37 AM

I have Good luck luck with a couple of small local Banks in Pa Where i just broker the Deal Rate is around 6.5 at Zero up to 1.5 mill at 80 ltv. But needs to be perfect and local.

Alexey419

104 Posts

Posted - 07/04/2008 : 10:38:56 AM

indymac will touch it

ross@rhcooperltd

52 Posts

Posted - 07/04/2008 : 11:07:42 AM

Indymac is aweful painful to work with !

Alexey419

104 Posts

Posted - 07/04/2008 : 11:22:27 AM

To tell you the truth very easy and very fast. Probably has to do with your rep. But in reality you do not need him. Upload, send stips vie e-flow if everything is in order close in a week or so. Again all depends on a branch you deal with, i am very happy.

989 Posts

Posted - 07/04/2008 : 11:25:46 AM

quote:
Originally posted by mojojojo_1

http://www.ingloans.com/wholesale/index.html

Just had a friend submit to them for a Jumbo. We are not in a declining market and he submitted two appraisals from local guys with great reputations. One appraisal at 1 million and the other at 955k and the UW cut the value to 750k. Plus it took two weeks to get the news.

Alexey419

104 Posts

Posted - 07/04/2008 : 11:50:12 AM

Well i totally agree with you, but that is the deal with almost every lender. I had 3 deals last week with indymac and countrywide and i got the same situation... value was cut from 360 to 295 and i got to know such beautyful news when file was in funding department. Trust me it's all over the place. It's the new system that banks will be required to use quite shortly. There was a whole article about that. Talk to your appraiser he should know all about this, they got this notice about 5 month ago.
As far as i know there will be no independent appraisers anymore. Brokers will have to send appraisal request to some sort of central office, where in fact requests will be assigned to random appraisers for that area. It will be bad, no more comp searches, technically they will force us to play with our eyes shut....what a waste of time. Well if you think that is bad enough, also there will be a centralised system similar to what appraisers use today but it will be controlled only by that same office. Well this applies to brokers and banks. I think at this point banks are no longer allowed to use in house appraisers (retail and wholesale) so it will be even more interesting for everybody. All i can say let's try and hang on longer. If i find a link to all of this i will post it.

BigFire

2962 Posts

Posted - 07/04/2008 : 3:24:17 PM

I can do jumbo - call to discuss, thanks Jay 310.498.2332.

AJETT

19 Posts

Posted - 07/04/2008 : 6:04:14 PM

I have IO super jumbo rates from the low 6% range 3-30yr (conforming to $5MM)
Alexander Jett (HSBC)
561 718 4424cell
alexander.r.jett@us.hsbc.com
(STILL HAVE SIVA .. MUST BE SE)

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