Comments on: Loans, Underwriting Guidlines, Declining Markets & You http://verdugohillshousetalk.com/2008/06/loans-underwriting-guidlines-declining-markets-you/ Homes, Living and All Things Local Sun, 19 Jul 2009 18:52:13 +0000 hourly 1 http://wordpress.org/?v=3.1.1 By: John Hickey http://verdugohillshousetalk.com/2008/06/loans-underwriting-guidlines-declining-markets-you/comment-page-1/#comment-35 John Hickey Wed, 25 Jun 2008 07:27:34 +0000 http://verdugohillshousetalk.com/?p=154#comment-35 Hi Jennifer, Thanks for the info and the kind words. You do wonderful work for our clients. John Hi Jennifer,

Thanks for the info and the kind words.

You do wonderful work for our clients.

John

]]> By: Jennifer Lamm http://verdugohillshousetalk.com/2008/06/loans-underwriting-guidlines-declining-markets-you/comment-page-1/#comment-34 Jennifer Lamm Tue, 24 Jun 2008 23:02:31 +0000 http://verdugohillshousetalk.com/?p=154#comment-34 Hi John, Neighbors and Friends. Getting a loan approval for a prospective buyer is so exciting!! People that are motivated are really fun to help because they want to well, MOVE!! Now we have to work on getting the PMI or Mortgage Insurance companies excited about insuring the loan. Here are some basic guidelines of what they Do NOT want to see right now. If you have any of these issues it would be best to work on correcting them prior to applying. These are some general guidelines of Mortgage Insurance Companies with FNMA Lenders: Fico Below 620 Any Loan with only 3% down Any Stated Income Loan 5% down with a credit score below 680 Negative Amortization Cash Out Refinances on Investment Properties Good Luck!! Jennifer Lamm Hi John, Neighbors and Friends.

Getting a loan approval for a prospective buyer is so exciting!! People that are motivated are really fun to help because they want to well, MOVE!! Now we have to work on getting the PMI or Mortgage Insurance companies excited about insuring the loan. Here are some basic guidelines of what they Do NOT want to see right now.

If you have any of these issues it would be best to work on correcting them prior to applying.

These are some general guidelines of Mortgage Insurance Companies with FNMA Lenders:

Fico Below 620
Any Loan with only 3% down
Any Stated Income Loan
5% down with a credit score below 680
Negative Amortization
Cash Out Refinances on Investment Properties

Good Luck!!

Jennifer Lamm

]]> By: Jennifer Lamm http://verdugohillshousetalk.com/2008/06/loans-underwriting-guidlines-declining-markets-you/comment-page-1/#comment-33 Jennifer Lamm Fri, 20 Jun 2008 00:45:46 +0000 http://verdugohillshousetalk.com/?p=154#comment-33 Hi John Hickey!! What a wonderful blog site you have here and so informative and useful. Most areas are just sort of blanketed as a down market due to the lenders being so nervous about high Loan to Value Loans. They are asking buyers to have some down payment to insure equity. Everybody save your pennies so you can get in on good deals!! Thanks again John for such a nice blog.... Jennifer Lamm The Loan Gallery Proud resident of Shadow Hills Hi John Hickey!!

What a wonderful blog site you have here and so informative and useful. Most areas are just sort of blanketed as a down market due to the lenders being so nervous about high Loan to Value Loans. They are asking buyers to have some down payment to insure equity. Everybody save your pennies so you can get in on good deals!! Thanks again John for such a nice blog….

Jennifer Lamm
The Loan Gallery
Proud resident of Shadow Hills

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