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asyed
9 Posts |
 Posted - 07/28/2008 : 2:52:41 PM
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Hi everyone,
Would you know of any lender (IL) that still offers SISA products for extremely low LTV owner occupied property with high credit score borrower?
Thanks! |
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lukeallison
1409 Posts |
Posted - 07/28/2008 : 3:23:18 PM
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| We still have it. I think we can go up to 75% LTV with a 720 score. Purchase and Rate/Term only. No cash out. |
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MortgageBoarder
4013 Posts |
Posted - 07/28/2008 : 3:33:16 PM
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| It is no longer the same program that everyone is accustomed to using on the Wholesale side, but we still have Fast & Easy (full doc income waiver) on the Retail end as well. 85% max for the most part, but 90% is best case scenario, depending on the borrower's profile. Need to have stellar credit & self employment history to truly support the income waiver. Max LA of $417k. |
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dwmordue
430 Posts |
Posted - 07/28/2008 : 3:44:50 PM
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How About No-Ratio?
Waterstone, they also have pledged asset. Have been working on getting set up with them, but have not done a deal through them yet. They are mostly for larger loan amounts, but still might be a source for future deals. |
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asyed
9 Posts |
Posted - 07/28/2008 : 4:37:48 PM
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Great, thank you.
dwmordue: can you give me the contact information for Waterstone please?
MortgageBoarder: we use Countrywide a lot, but if I have fast 'n easy approval per Countrwide's e-approve, will a 4506 be ordered?
lukeallison: do you offer that product on the wholesale side? I noticed you are on the retail side.
Thanks everyone for the feedback, very helpful. I will await your answers.
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alanadanielle
107 Posts |
Posted - 07/28/2008 : 4:56:51 PM
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| Try Home Loan Network out of Arizona, they are still doing SIVA and SISA on owner occupied and non-owners. |
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MortgageBoarder
4013 Posts |
Posted - 07/28/2008 : 4:57:18 PM
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Sorry bud, as stated above, I am in Retail which is why I have Fast & Easy. This program is no longer available to the Wholesale community, unless I am mis-informed.
FYI... 4506t is required to be signed on every F&E loan. Whether it will be executed or not is up to operations.
quote:
Originally posted by asyed
Great, thank you.
dwmordue: can you give me the contact information for Waterstone please?
MortgageBoarder: we use Countrywide a lot, but if I have fast 'n easy approval per Countrwide's e-approve, will a 4506 be ordered?
lukeallison: do you offer that product on the wholesale side? I noticed you are on the retail side.
Thanks everyone for the feedback, very helpful. I will await your answers.
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Newbud
231 Posts |
Posted - 08/01/2008 : 8:28:21 PM
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| We have a stated retail HELOC product up to $250,000 with a 75% CLTV - hope this is helpful. |
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mdietz
231 Posts |
Posted - 08/04/2008 : 06:56:16 AM
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We have a SISA up to 70%LTV, R/T only....min 730 FICO
Please call or email for pricing - include zip code
(NOTE: For SIVA Program, borrower must be either
self-employed or derive more than 50% of their income
from comission)
Michael Dietz
Account Executive
Dream House Mortgage Corporation
401-262-5623
mdietz@dhmc.com
WE CLOSE GOOD LOANS FAST!
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