Borrower had a Deed In Lieu over 2 years ago (5/21/2010). Per Fannie Guidelines, shouldn't be a problem with this LTV.

Has anyone out there been able to get and approve/eligible with the DIL over 2 years and 80% LTV? (this is actually 75% - investment and duplex)

Per most lender guidelines, Deed In Lieu acceptable with 80% or better LTV, and 2+ years old, WITH APPROVE/ELIGIBLE, which I haven't been able to get, and reason is "DU has identified a deed in liue or foreclosure that was reported within the last two years, or a foreclosure that was reported within the last seven years. This loan is ineligible for deliver to Fannie Mae".

Even with primary residence 1 unit, DU still will not give Approve Eligible, so its not that.

I called DU, they said both DIL and Foreclosure report the same way, and as long as DU is reading the DIL, it will give this message regardless of the 2 years 80% LTV guideline. My conversation with my credit folks said something similar.

However, one of my lenders told me it IS possible to get an approve eligible in this circumstance. I haven't been able to find a fellow LO who's been through this particular scenario.

1. Does anyone have experience w this scenario getting an Approve/Eligible?

2. Which, if any, lenders will do Conventional Manual Underwrite?

Kristen send me an email or call 765 351 5363 to discuss, this loan seems doable. We are nationwide residential/commercial lenders.

Regards

Steven

Hi there, that's a big amount. It's so nice to have a big money like that but it's so hard to pay for it. Many homeowners have a problem with their property,
if you are a homeowner and are preparing to sit down and do your taxes - or hand them off to a tax preparer - you'll want to make sure that you're utilizing all the homeowner tax credits to which you are entitled. Depending upon your region, income and the state of your home, there are three big money-saving tax credits a lot of people can pursue: the Energy Property Tax Credit, Mortgage Insurance Deduction and New Homeowner Credit. These are the basics; for more info on each tax credit, consult with the Internal Revenue Service. "A payday cash loan can be such a relief" payday loan can help you pay for your mortgage this month.

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