"David - You can run the address thru Fannie's database via the link below. That may help you sort thru the leads pretty quickly, and isolate those who can qualify better, thus not spinning your wheels. http://loanlookup.fanniemae.com/loanlookup/ I have run 3 on the program and all 3 hit so far. The advantage is that up to 95% LTV the price remains the same. I'm dropping people at least a whole % with no points and making about $6K in fees on the back on each loan. To me it's a win-win..."    View Post

"I am in correspondent and the only thing we can do is Fannie. I agree with Kent that Freddie is only rolling this out now for the current servicer. If WF has announced a deal for wholesale to do the Freddie side, that is great. As of today, we have CW, WF, Chase, Citi and GMAC all doing this with Fannie DURP. I have run 2 and had 2 hit. The only loans we are able to close now are the ones that do not need MI. That DU release is coming the weekend of May 2. It is only really applicable if they have..."    View Post

"Has anyone gotten anything definitive on what lenders are pricing the Agency Jumbo (Super Conforming, etc.) loans these days? I am pulling rates in the 6% range with no points, but hearing from borrowers that they are getting quoted rates in the low 5's, like a normal conforming loan. I'm pulling my hair out, losing these deals and can't tell if they are truly getting lower rates, or if it's a bait and switch. Any inputs on what you all are seeing would be appreciated - thanks!"    View Post

"Vic - Worst case, we may be able to do it here at North American Savings Bank. We have a Portfolio program and the bank president may take that. Let me know if you have no other luck. He looks for solid incomes, lower LTVs, and good reserve capacity."    View Post

"Chase used to but they retracted it in September. For a new project they are requiring 51% presale. Citi is no better. It looks like Wells did away with their streamline as well - they used to have no presale requirement with 25% down. Sorry I'm no help - just trying to help eliminate some so you don't have to do so much work"    View Post