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grigerny
243 Posts |
 Posted - 01/04/2007 : 12:59:08 PM
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| not trying to spread rumors...just asking because I have gotten some word that this is the case, anybody have knowledge whether or not this is the case? |
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CoralSnake
12763 Posts |
Posted - 01/04/2007 : 1:01:36 PM
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| Its still on the ratesheets on their website. |
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jayvision0807
219 Posts |
Posted - 01/04/2007 : 1:05:04 PM
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| Things are changing very quickly. |
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Douggie
1370 Posts |
Posted - 01/04/2007 : 1:05:32 PM
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wouldnt be surprised
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darkstar
30830 Posts |
Posted - 01/04/2007 : 1:05:49 PM
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| Shocked? |
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subprime1
956 Posts |
Posted - 01/04/2007 : 1:09:57 PM
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I heard from a fellow AE that they are shutting there doors and going out of business...
JK  |
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mtgLady
504 Posts |
Posted - 01/04/2007 : 1:13:29 PM
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| well ok but I heard it from a friend in the prime side of their competitors that top level management of the bank at the end of the block was going to tell the subprime unit of the end div. that their hair cuts were not current style and they were going to shut the doors until they got a new one. |
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tricia94382
1532 Posts |
Posted - 01/04/2007 : 1:23:43 PM
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| lol |
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anthonyt2325
1413 Posts |
Posted - 01/04/2007 : 1:33:15 PM
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| I heard that they'll still go to 100% full doc but not on stated deals. |
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oc.lender
1743 Posts |
Posted - 01/04/2007 : 2:11:45 PM
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| i heard BNC was losing their stated 80/20's, is that true? |
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ugaagent
339 Posts |
Posted - 01/04/2007 : 2:18:31 PM
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| I've heard two things. all stated 100% is gone OR stated 100% on purchases is gone. either way they are not doing 100% stated. also they are going to 12 months seasoning on title for appraised value. |
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ntoler
1072 Posts |
Posted - 01/04/2007 : 2:23:46 PM
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| No, but my AE just bait and switched me on the DPA program that he said he could use, he even gave me the name of the DPA company tp use and now when were going to close, he said, oops, no we cant do that. |
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jkinley
421 Posts |
Posted - 01/04/2007 : 6:46:27 PM
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We are still doing 100% Stated.
Jim Kinley
BNC Mortgage |
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PETEMAL1
12 Posts |
Posted - 01/05/2007 : 08:28:05 AM
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| [YES ITS CONFIRMED 80/20 IS GONE |
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jlawrence
503 Posts |
Posted - 01/05/2007 : 08:40:47 AM
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quote:
Originally posted by oc.lender
i heard BNC was losing their stated 80/20's, is that true?
Not true, we still have 80/20 stated with a 640 and some of the most liberal trade req's in "competitive subprime". We are also one of the only lenders offering 100% stated at 620 fico wage earner or self employed one loan, no MI. |
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PETEMAL1
12 Posts |
Posted - 01/05/2007 : 08:43:10 AM
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| FREMONT LOST 100% STATED |
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FremontBrokerAE
725 Posts |
Posted - 01/10/2007 : 4:15:16 PM
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We are no longer doing 100% stated purchases
Max 90% LTV on stated Wage Earner
Max 95% LTV on stated self employed
We are still doing 100% stated refinances with a middle score of 640 and required tradelines
We now require 12 months seasoning from purchase date to use new appraised value
We are no longer doing seller held seconds either. |
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