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rdpatrick
22 Posts |
 Posted - 07/17/2008 : 5:58:59 PM
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The loan amount is $417,000 and it is a full doc loan. We can do a rapid rescore to get above 680 but I dont want to wait a week or more to resubmit.
Please call 510 444 2822 or email durell at durellpatrick dot com.
Thanks |
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hoangad
2929 Posts |
Posted - 07/17/2008 : 6:12:16 PM
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try ASB, received this email from them a week or two ago.
To:
Mortgage Division
From:
American Sterling Bank Communications
Re:
Guideline Updates
Guideline Updates
Conforming Fixed Rate Program
American Sterling Bank has expanded the Conforming Fixed Rate Guide to include the following eligibility scenarios on Owner Occupied* Properties:
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95% LTV/CLTV/HCLTV with Fico 660+ on purchase and rate/term refinance transactions.
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90% LTV/CLTV/HCLTV with Fico 660+ on cash out transactions.
Section 401 – Required Coverage Amounts has been updated to include the required annual percentage of coverage for mortgage insurance on LTV’s greater than 90%.
*Interest Only Owner Occupied properties are not included in this update.
Chapter 403 – Appraisal Analysis
Section 210 – Declining Markets has been updated to reflect our new requirements for conventional loans with LTV’s greater than 80%.
Please contact your Customer Account Manager (CAM) with any questions you may have. American Sterling Bank’s Lending Guide and Product Guides can be found at https://asbloan.myabt.net.
This is GREAT news!!!
We have expanded our Conforming Fixed Rate program! On owner occupied properties only, our new LTV / CLTV limits are:
· 95% ltv/cltv with fico of 660+ on purch & RT refi
· 90% ltv/cltv with fico of 660+ on cash out refi
Please see attached bulletin for further details.
Have a fantastic day … call me if you need anything!!
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rdpatrick
22 Posts |
Posted - 07/17/2008 : 10:16:47 PM
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| Thanks. I will check them out. |
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