Need Lender in GA

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jmb

291 Posts

Posted - 07/13/2008 : 9:21:30 PM

I need a lender in GA that will allow LPMI-no escrows on a 3 or 5 yr IO Arm, 95% LTV, 720 fico, primary R/T refi.
I found one but that was in June. I priced it out and everything. The borrower dragged their feet and I thought they were just shopping me. Well today outta the blue they emailed me and said they were ready to go and I forgot what lender it was I priced them with. It took me a while to find that lender that allowed LPMI on such a high LTV.

Can anyone help?! This one is a slam dunk. They gotta plenty reserves in the bank with a 35% back end ratio.

lukeallison

1409 Posts

Posted - 07/13/2008 : 10:01:21 PM

5 year ARM, 10 year I/O, LPMI with Flagstar is available
6.75% is the highest my system goes with a cost of 1.5%
You can get fixed around 7.5% and get some rebate. I don't know about an escrow waiver at that LTV, but at least most of your criteria are being met.

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