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varga197
203 Posts |
 Posted - 10/09/2008 : 09:30:01 AM
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This realtor keeps telling me that bank won't even fund any Government and Conventional loans now. I keep telling her that is not true. Than she is asking if I know anyone closed in the past 2 weeks, and I don't..
anyone closed last two weeks? I thought I was somewhat up to date, but now I'm not sure anymore... |
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Silentrevenge
49 Posts |
Posted - 10/09/2008 : 09:30:42 AM
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| not true |
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alberone
191 Posts |
Posted - 10/09/2008 : 09:33:53 AM
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quote:
Originally posted by varga197
This realtor keeps telling me that bank won't even fund any Government and Conventional loans now. I keep telling her that is not true. Than she is asking if I know anyone closed in the past 2 weeks, and I don't..
anyone closed last two weeks? I thought I was somewhat up to date, but now I'm not sure anymore...
Definitely not true. Loans are closing every day somewhere... |
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davidfr
1148 Posts |
Posted - 10/09/2008 : 09:34:09 AM
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quote:
Originally posted by varga197
This realtor keeps telling me that bank won't even fund any Government and Conventional loans now. I keep telling her that is not true. Than she is asking if I know anyone closed in the past 2 weeks, and I don't..
anyone closed last two weeks? I thought I was somewhat up to date, but now I'm not sure anymore...
That is totally absurd. The realtor is an idiot. Of course loand are funding. We have funded 3 just this week. |
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dkendall1979
10147 Posts |
Posted - 10/09/2008 : 09:38:47 AM
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Here's my month to date funding report:
Loan Status Number of Loans Total Loan Amount
Funded 7 $1,936,718.00
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edgarthelender
70 Posts |
Posted - 10/09/2008 : 10:09:46 AM
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Do not ever trust anything a realtor says concerning the lending business unless they say:
"I don't know anything, I only pretend to."
These loans are closing daily.
Funded two last week and one yesterday personally and I know of at least two others funded by my partner this week. |
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FundStar14
755 Posts |
Posted - 10/09/2008 : 10:19:28 AM
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| The Realtor is flat out wrong. Funded two conventional loans this week. Maybe they were talking about a specific bank. |
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katbunk
2132 Posts |
Posted - 10/09/2008 : 10:22:24 AM
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| What the........of course loans are funding. My office has funded twelve just this week. |
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TheMoneyStoreguy
307 Posts |
Posted - 10/09/2008 : 10:30:51 AM
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Yes I would agree... The FHA market seems to be business as usual.
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liverichly
3927 Posts |
Posted - 10/09/2008 : 10:37:52 AM
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| varga, the real estate agent is smoking some good crack. I estimate there are over 2,000 conforming & FHA loans funding each day. |
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just in kase
474 Posts |
Posted - 10/09/2008 : 10:43:57 AM
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| everybody know as a result of the DPA loans, there was national liquidity problem the end of last month. that is what the realtor is most likley talking about. but yes we are funding loans. funded 2 yesterday. |
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gcraig
150 Posts |
Posted - 10/09/2008 : 12:08:23 PM
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| funded 1 on monday and 2 yesterday |
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Shuggins
995 Posts |
Posted - 10/09/2008 : 12:13:31 PM
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Could be talking about CITI not funding their loans. I have a client who was working with them on a SIVA deal at 85% LTV. After they announced they were "downsizing" he was turned down.
They told the LO working the deal 75% LTV or less Full doc only. |
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SenseMakeDollars
126 Posts |
Posted - 10/09/2008 : 12:15:17 PM
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| I'm glad my home isn't listed by this Realtor. Is this what he tells potential buyers? Another uninformed, uneducated, and too ignorant to realize it REALTOR... |
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MisterVA
6570 Posts |
Posted - 10/09/2008 : 12:49:57 PM
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| Maybe this real estate agent closes two deals a year and hasn't met quota yet. |
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velecico
3935 Posts |
Posted - 10/09/2008 : 3:10:44 PM
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Just got back from a closing , FHA purchase , floated till 2 days ago 6.5 got 2.25 plus 1 orig. , 3.25 on 300K , cachingg |
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Captain Mortgage
1721 Posts |
Posted - 10/09/2008 : 3:17:32 PM
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| Yes, there are banks and mortgage companies that are going out of business and are no longer funding loans. Tell that agent that they need to work with you because you can, are, and will continue to fund loans |
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LoanPro71
2676 Posts |
Posted - 10/09/2008 : 3:45:43 PM
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quote:
Originally posted by velecico
Just got back from a closing , FHA purchase , floated till 2 days ago 6.5 got 2.25 plus 1 orig. , 3.25 on 300K , cachingg
Very cool.
Feels good, doesn't it?
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mandysmom
289 Posts |
Posted - 10/09/2008 : 4:22:02 PM
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| 2 this week. |
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mandysmom
289 Posts |
Posted - 10/09/2008 : 4:22:54 PM
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| 2 this week. |
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FundStar14
755 Posts |
Posted - 10/09/2008 : 4:26:11 PM
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| Does that mean 4 this week ;-) |
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HMDApproved
694 Posts |
Posted - 10/09/2008 : 4:27:41 PM
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quote:
Originally posted by FundStar14
Does that mean 4 this week ;-)
That realtor is a moron. Most are! |
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cspatmon
2092 Posts |
Posted - 10/09/2008 : 8:57:28 PM
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| Not true. Doesn't get under your skin when you continuously have to defend against erroneous information? |
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yldspread
458 Posts |
Posted - 10/10/2008 : 10:12:18 AM
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That is ridiculous! Ask her to come to this forum, she is only hurting the confidence of the few prospects she might have. I closed 11 last week
MORONIC! |
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MisterVA
6570 Posts |
Posted - 10/10/2008 : 10:14:33 AM
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quote:
Originally posted by velecico
Just got back from a closing , FHA purchase , floated till 2 days ago 6.5 got 2.25 plus 1 orig. , 3.25 on 300K , cachingg
Was the IRS guy at the closing? |
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jstar
713 Posts |
Posted - 10/10/2008 : 10:17:28 AM
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Typical Real Estate agent comment.
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jnseabolt
22 Posts |
Posted - 10/10/2008 : 10:56:16 AM
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I had a closing last Wednesday and one on Monday of this week and have another set up for Monday of next week. They were both conforming and FHA.
Thanks,
Seabolt |
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gaya
37 Posts |
Posted - 10/10/2008 : 1:15:21 PM
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| Why do real estate agents always want to seem like they no more than we do about lending? If they would just admit to themselves and their clients that they no absolutely nothing about the loan process and please direct all questions to their LO, we would all get along beautifully. |
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cvm2
234 Posts |
Posted - 10/10/2008 : 3:26:14 PM
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| closed at noon today |
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RyLoans
41 Posts |
Posted - 10/10/2008 : 4:14:18 PM
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David,
For an AE that seems a bit small. Only 1.2 million? What did that make you?
Then again on the advice of others I wrote you, no response on a loan. Maybe you would have closed 5 Million if you responded after saying you could help.
Good Hell. |
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benjamin
2196 Posts |
Posted - 10/10/2008 : 4:17:34 PM
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| Impeach Bush and Cheney |
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LoanPro71
2676 Posts |
Posted - 10/10/2008 : 4:51:50 PM
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quote:
Originally posted by benjamin
Impeach Bush and Cheney
Yesterday would be nice.
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moneyone
626 Posts |
Posted - 10/10/2008 : 11:28:30 PM
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Tell her she's right....and you're the only one around that is funding deals right now!
I love dumb realtors. I always feed realtors huge loads of sh*t and they love it since they have no clue....they just keep sending me deals. |
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propertylender.c
1276 Posts |
Posted - 10/11/2008 : 7:55:53 PM
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quote:
Originally posted by varga197
This realtor keeps telling me that bank won't even fund any Government and Conventional loans now. I keep telling her that is not true. Than she is asking if I know anyone closed in the past 2 weeks, and I don't..
anyone closed last two weeks? I thought I was somewhat up to date, but now I'm not sure anymore...
I just spoke to an underwrither today who funded 29 loans last month and is on her way to fund more this month. She specializes in FHA's and averave loan amount is under $200,000.00. |
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Rene Viloria
1826 Posts |
Posted - 10/11/2008 : 9:39:37 PM
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quote:
Originally posted by varga197
This realtor keeps telling me that bank won't even fund any Government and Conventional loans now. I keep telling her that is not true. Than she is asking if I know anyone closed in the past 2 weeks, and I don't..
anyone closed last two weeks? I thought I was somewhat up to date, but now I'm not sure anymore...
I closed one last week reverse fha! no problem! |
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FundStar14
755 Posts |
Posted - 10/11/2008 : 11:02:23 PM
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| Bottom line, most Realtors are donkeys and don't know crap.... |
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LO1003
162 Posts |
Posted - 10/12/2008 : 07:23:11 AM
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Not true, but that is one good excuse to use the next time I get a loan declined. |
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