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deanna1228
58 Posts |
 Posted - 07/16/2008 : 1:04:05 PM
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| Anyone?????? |
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dtabar
735 Posts |
Posted - 07/16/2008 : 1:05:07 PM
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| nope. |
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deanna1228
58 Posts |
Posted - 07/16/2008 : 1:22:14 PM
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 Didn' t think so! I have a client telling me another broker can do it. Just wanted to make sure I wasn't missing something! |
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sbuckman
498 Posts |
Posted - 07/16/2008 : 8:17:23 PM
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| I thought that you could get it if the DTI was under like 33 or something? |
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kellamtom
610 Posts |
Posted - 07/16/2008 : 8:28:58 PM
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| i have an u/w approval on 90%ltv purch noo with 698 fico closing 7-28, with homecomings |
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sbuckman
498 Posts |
Posted - 07/16/2008 : 8:32:07 PM
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| What was the DTI? Is it low? I read somewhere that it was only with low DTI's or something. Do they have landlord history? |
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dtabar
735 Posts |
Posted - 07/16/2008 : 8:47:07 PM
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| I heard as of July 14th no MI companies will lend on investment properties. What is your DTI kellamtom? |
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sbuckman
498 Posts |
Posted - 07/16/2008 : 8:48:16 PM
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| Well, like I said, I heard that they would do it but the DTI had to be like 33. |
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kellamtom
610 Posts |
Posted - 07/16/2008 : 9:34:28 PM
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| i've got a 39dti and plenty of reserves with no landlord history, they own their primary free and clear and purchased 1 other rental jan 08, they're tough on the collections she has 3 small medical collection from 2005 with total over 1k and all are required to be paid, and i've learned that if a single collection over 250.00 or a total over 1k they have to be paid prior to closing |
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dtabar
735 Posts |
Posted - 07/16/2008 : 9:59:18 PM
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who's the Mortgage Insurance company??
I only know of 1 that will insure, but with a 33% DTI. And I heard they stopped doing it on July 14th. |
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Indiana Mortgage
43 Posts |
Posted - 07/16/2008 : 10:20:12 PM
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| I'm in the same boat, hopefully someone can help. Looking for an MI company. I submitted the application prior to July 14th, and today got a denial letter through Radian due to DTI. Any options at all on these? Also, can anyone finance borrowers with over 4 investment properties still? Wells Fargo told me they could as long as it was in the system as of the 14th, but all new registrations they can't..... |
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Indiana Mortgage
43 Posts |
Posted - 07/20/2008 : 8:58:38 PM
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| Can anyone help? |
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ownerop
367 Posts |
Posted - 07/20/2008 : 9:01:31 PM
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quote:
Originally posted by deanna1228
Anyone??????
Chase is doing them, they have 3 different MI companies they use depending on the Fico. Minimum Fico is 660. |
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