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Home  » Directory  » Amy Tierce
Amy Tierce
amyrates

Massachusetts
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"I do not agree with you Linda, how about the well seasoned professional borrower at a 50% LTV, 800 credit scores, reserves but a back ratio of 55% - all day long this expreienced and saavy consumer will meet the required payments yet they cannot get financing... that is too bad and that level of tightening is hurting our market. Realtors are the largest lobbying group in the country - we should be joing forces with them on the lobbying end to get some more realistic regualtions. There is strength..."    View Comment
"I am running my own operation within a national company, we close 100 loans a month with 8 loan officers and three processors an Ops manager and a closer, we have never had an EPD, we have never had an unsalable loan, we do not loose money on post closing issues and we have had one EPO all year... we manage expectations and our pipeling well - and we are at 60 days to close refi. I would not want to work anywhere but here and my loan officers feel the same. Oh yeah, and a subordination agreement..."    View Comment
"I am requiring out team to lock refinances for 60 days and build in a possible extension, in the greater Boston area with high home values and loan amounts refinances are fast and furious processing high quality compliant loans takes more time than ever. I would also like to suggest that we not push borrowers to keep shopping for the lowest rate, this is not a commodity business, I come across a lot of borrowers who spent time and money on a purchase or a refinance who were never going to be approved..."    View Comment
"We are being re-trained as an industry. Yes, we can close a very well documented loan in two weeks with some amount of stress. But today there is no common sense, the lenders are tellling us that full doc is full doc period. Get used to it, no matter what the LTV, credit score, ratios, all borrowers are being treated as potential frauds as are all originators. We need to step up and embrace the changes, many of our competitiors will not adapt, and we will continue to win in this most challenging..."    View Comment
"Great commentary AQ. I beleive that the next step would be to create a true streamline refinance. If a borrower with a 60 back end ratio has a perfect payment history, excellent credit and reserves they should be able to enjoy a refinance - the savings realized by high credit quality borrowers will go directly into the economy, they qualified by Fannie creieria 3 - 4 years ago and today with a lower rate are told that they cannot refinance. THis is simply not fair. We are paying top dollar to help..."    View Comment
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"HI there, I do not beleive that there are any programs that allow you to purchase investment property with less than 20% down because mortgage insurance will not insurnace investment properties. If your lender or realor suggests that you indicated that you will be living in the property or purchasign it as a second home, do not do it. You will be comitting fraud and occupancy fraud is being highly investigated today. To answer your question, when the lender orders the appraisal they will indicate..."    View Post
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