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the_mortgage_guy
1194 Posts |
 Posted - 07/11/2008 : 10:56:16 AM
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| I have never seen a waiver on anything over 417k. just wondering if this is because it's not available on those or if I need to go with amore liberal confumbo lebder - like HSBC, etc. Any lenders, thoughts out there on this? |
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mantixmortgage
2717 Posts |
Posted - 07/11/2008 : 11:01:33 AM
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| not available to my knowledge |
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williamspeaking
4058 Posts |
Posted - 07/11/2008 : 11:02:52 AM
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| doesnt exist |
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daronc
1253 Posts |
Posted - 07/11/2008 : 11:08:58 AM
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Yes we do income waiver on Conforming Jumbo when the AUS waives it...
Generally 700+ FICO and 80% LTV or below... And can't have rental income cause it ask for tax returns for rental income.... |
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lukeallison
1409 Posts |
Posted - 07/11/2008 : 11:12:48 AM
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I got it on my first file with the Freddie Mac jumbo. Findings came back as Accept+ and they did not verify income. It was a purchase, 20% down and the credit was 730. I think the loan was around $520k
However, I may have had a naive underwriter but she let it get through. |
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tommydon
180 Posts |
Posted - 07/11/2008 : 1:53:25 PM
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Spoke to Ryan and he said he can do them but they are rare
Ryan Robertson
WJ Capital Corporation
(714)473-2725
ryan@wjcapital.com
Must be run trhough LP, dti super low, no self employed
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CoralSnake
10880 Posts |
Posted - 07/11/2008 : 1:57:30 PM
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| I have seen income waivers over 417k, but as far as I know, you still need docs for Confumbo. |
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the_mortgage_guy
1194 Posts |
Posted - 07/11/2008 : 3:33:38 PM
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| I just got it witH Amtrust but they divy at 417k and honor the 1st income waiver on the 2nd! Sweet. Great 3/1 IO rates. Im psyched! |
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Nico
3056 Posts |
Posted - 07/11/2008 : 6:41:16 PM
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| I see em all the time. Accept Plus with LP and follow LP's recommendation for income. |
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the_mortgage_guy
1194 Posts |
Posted - 07/12/2008 : 10:03:45 AM
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| Well, this was news for me - good news. |
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