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REBECCATROVITCH
4 Posts |
 Posted - 08/14/2008 : 11:29:16 AM
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| Are there any other lenders out there in Florida that can do a true No Doc at 70% LTV with a 736 mid-score? Rate and Term? Jumbo at $650k - besides Emigrant. The rate is too high there and there's no benefit to my borrower. Any lenders interested, please email me directly at rebecca@acigroupllc.com as well as posting here. Thanks. |
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dkendall1979
10297 Posts |
Posted - 08/14/2008 : 12:04:03 PM
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| You're out of luck if Emigrant's rate is too high. |
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shea1
124 Posts |
Posted - 08/14/2008 : 7:39:31 PM
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| even emigrant will not dance with that high of a ltv |
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CoralSnake
10884 Posts |
Posted - 08/14/2008 : 8:18:12 PM
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quote:
Originally posted by shea1
even emigrant will not dance with that high of a ltv
On a Purchase or R/T. loan amount under 1Mil, and fico over 660, they will do a NINA to 70ltv in their HiQ product.
They dont lend in all FL counties though.
To see what FL counties they lend in, go to:
http://tinyurl.com/5lupcp
And scroll over FL for the list.
good luck |
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Mandyvilla
3453 Posts |
Posted - 08/14/2008 : 8:43:01 PM
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| I just found out we have a No Ratio, 75% to 850K, but we don't broker. Sorry, not emailing you, I am retail competition (small bank 0=) trying to get a feel for what's in demand or what I should be marketing. At 75%, I wasn't impressed for no ratio - 5/1 ARM 7.25% 0 points....Feedback anyone? should this be moved up on my marketing list? |
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liverichly
3936 Posts |
Posted - 08/14/2008 : 8:51:21 PM
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| Mandy considering No Ratio is practically gone, yes.. I'd be advertising it even if the rate was 8%+ |
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priorityfunding
140 Posts |
Posted - 08/14/2008 : 10:00:21 PM
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Yes I'd market that as there is a high demand for high ficos low LTV that would prefer no ratio, contact me with your loan programs, have a few files I might be able to refer.
Thanks |
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waynepbright
3678 Posts |
Posted - 08/14/2008 : 10:11:27 PM
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I'M JUST AMAZED THAT BOFA IS STILL DOING "NO RATIO" LOANS UNDER THEIR STRUCTURED ENVIRONMENT ... |
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808
2605 Posts |
Posted - 08/15/2008 : 07:16:25 AM
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quote:
Originally posted by liverichly
Mandy considering No Ratio is practically gone, yes.. I'd be advertising it even if the rate was 8%+
I agree, it's not like they can shop you. Hard Money Lenders are advertising 12.99%-14.50% all the time w 4 origination pts and a nasty pre pay and I'm not having a problem getting borrowers to sign the 1003, GFE or TIL and from what I've been told by the Settlement Agents they are very easy closes and sign whatever you put in front of them.
That program of yours is far superior to Emigrants which I would guess would be your main competition. |
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CoralSnake
10884 Posts |
Posted - 08/15/2008 : 07:50:25 AM
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I had an AE who just told me about some NoDocs he had.
I asked him why he didnt tell me about this sooner and his response was that the rates are 8+.
I told him that even if the rate was was 10+, if youve got a program like that, I need to know about it. |
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REBECCATROVITCH
4 Posts |
Posted - 08/15/2008 : 07:50:42 AM
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Emigrant's rate with 1 pt ysp was 8.5 on a five year fixed. It wouldn't be bad under any other circumstances, but I need a true No Doc. Thank you for all of the feedback - at least I know there's really nothing else out there.
Emigrant does go up to 70%. That's where the loan was placed. |
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kmikkola
799 Posts |
Posted - 08/15/2008 : 07:57:28 AM
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quote:
Originally posted by CoralSnake
I had an AE who just told me about some NoDocs he had.
I asked him why he didnt tell me about this sooner and his response was that the rates are 8+.
I told him that even if the rate was was 10+, if youve got a program like that, I need to know about it.
Who does he work for? |
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davidfr
1172 Posts |
Posted - 08/15/2008 : 08:03:22 AM
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quote:
Originally posted by REBECCATROVITCH
Emigrant's rate with 1 pt ysp was 8.5 on a five year fixed. It wouldn't be bad under any other circumstances, but I need a true No Doc. Thank you for all of the feedback - at least I know there's really nothing else out there.
Emigrant does go up to 70%. That's where the loan was placed.
I guarantee that Emigrant will cut back the appraisal if the property is in Florida. There is at least a 90% chance of it. |
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jami22
1 Posts |
Posted - 08/15/2008 : 11:54:11 AM
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| I have a no doc file with them now in FL and the turn time is 15 business days for a verbal out of underwriting. Don't know if you are in the same market and inquired but I was shocked at that timing. How much is there to look at on a no doc file |
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shea1
124 Posts |
Posted - 08/16/2008 : 1:10:40 PM
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| they capped one one of my refi's at 55? |
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downtime
228 Posts |
Posted - 08/16/2008 : 1:28:40 PM
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quote:
Originally posted by CoralSnake
I had an AE who just told me about some NoDocs he had.
I asked him why he didnt tell me about this sooner and his response was that the rates are 8+.
I told him that even if the rate was was 10+, if youve got a program like that, I need to know about it.
Now he can pad his rate sheet. |
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slants
4274 Posts |
Posted - 08/16/2008 : 7:57:39 PM
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quote:
Originally posted by waynepbright
I'M JUST AMAZED THAT BOFA IS STILL DOING "NO RATIO" LOANS UNDER THEIR STRUCTURED ENVIRONMENT ...
Mandyvilla isn't at BofA anymore. |
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peter
4617 Posts |
Posted - 08/16/2008 : 10:36:58 PM
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Mandy, what bank are you with now? I don't mind sending
you a retail customer for a No Ratio loan as we do sell
real estate at our C-21 office as well and I do have one buyer
for a No Ratio purchase loan, up to 70% LTV. Ventura County, CA.
You can e-mail me at Silomtip@yahoo.com
Thank you.
Peter |
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