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G3T2
G3T2

White Bear Lake,  Minnesota  55110
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"Frank are you recommending principle reduction on these loans? So should the investor then add on to the principle balance if the underlying asset appreciates? The asset (or value of it) and how it is paid for are two seperate items. I would expect no investor to lower my priniciple balance just as would not expect them to raise my principle balance based on what the current market value is. A program aimed at lowering the overall credit costs seems like a logical and "fair" option. Am..."    View Comment
"Example one: House built 2011 for 820K (effectively a comp) told borrower not expect anywhere near that appraisal came in at $540K. The appraisal worked. Underwriter states we need to order an apprasal review. The review appr complete inadequate appraises house at $460K...lol. Used comps that were not financable, forclosures. Lender says they use $460K. I went through all the correct channels at the AMC....guess what they didn't care they've been paid. I took it the top of the lender. They..."    View Comment
"Shaun thanks good information."    View Comment
"I agree MI is definately a big question! We are having almost no problems with subordinations. With the new LLPA's the subordinations will be easier becuase the 2nd mortgage lender will be improving their likelihood of being paid or improving their equity position quicker. The new guidelines that came out today will be helpful. Definatey not going to help everyone but will increase the pool of possibilities."    View Comment
"The statement with reference to wholesale and correspondent channels is not accurate.....the 125% is available and the unlimited LTV will be available out of the gate. You should probably correct that statement so people across the country know their is competition. It was probably not written with the intent it has, but I would strongly recommend changing it."    View Comment
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"Keith- I would ask your broker for clarification. When was your loan locked? Did you receive a new GFE at that time? If yes and none of the circumstances of the loan have changed i.e. loan to value, there can not be a change in pricing. There could be several reasons for the change from my limited point of view. The loan size being lowered eliminated a price incentive, the broker changed their pricing as of Spetmeber 1st with that lender increasing it by .25%, or perhaps the loan was not locked and..."    View Post
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