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Have a bunch of borrowers with non-owner properties with LTV's under 60% but DTI over 50%
Who are the lenders taking these Approve/Eligible files?
Here is the good news, there are several. The best advise i can give you is to find a lender that will not require any other conditions then your findings on DU/LP. Considering that these automated approvals are based not just on credit score, but the overall risk of default. The best question to ask is what lender's do not have any over lays.(additional conditions like dti over 50%)
Voyage Home Loans
Mike Kim
That is what I am looking for
A wholesale lender that will take DTI over 50% that is Approve/Eligible.
If I had the money I would write check for this loan.
Paul, Amtrust has no overlays. If you get approve/eligible throught their Gemstone system (basically same as DU), they will do the loan.