Lenders wanted

CA, Single-Family, Refinance, $297K, 650 FICO, 78% LTV
Posted on 8/7/2013 1:27:05 PM

we got a desktop underwriting result - Refer with Caution

I am checking to see if any other lenders will be able to fund the loan..

The reasons are outlined below.. the main reasons that I have been told is the recent adding of credit does not have enough seasoning only on the accounts 2-3 months and the high balance (american express) to available credit ratios.

I am trying to find out if anyone would know the account seasoning question (how long does the account has to report)..

The following aspects of the borrower's loan application had a significant adverse impact on the
recommendation. Additional information about each of these risk factors can be found in the Lender
Guidance For Use With Applicants section of this report:

Number of Units
Total Expense Ratio
Credit Profile

Credit: The following items in the borrower's credit report had an adverse impact on the borrower's credit
profile. Additional information about all of these risk factors can be found in the Lender Guidance For Use
With Applicants section of this report:

Utilization of revolving credit

  • by Charles Polk on 8/12/2013 6:06:05 PM

    all aspects of approval are done in house, so we can get things done that others can't call me to discuss your loan in more detail Charles Polk at 888.260.8246

  • by Charrles Polk on 8/12/2013 6:01:54 PM

    We are a Bank so all aspects of approval take place in house call me at 888.260.8426 toll free and we take discuss your loan in more detail.

  • by Brian D. Cowan on 8/9/2013 6:52:13 AM

    We offer in-house Manual U/W, funding etc...everything in my office. 480 391-1023

  • by Julia Maio on 8/8/2013 6:44:10 PM

    We offer manual underwriting which will be able to fund the loan as requested. Please call me at 619-362-1303 or send me an email for more information at julia.maio@fremontbank.com

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Lenders wanted View all

State Requested Amount Property Type Loan Type FICO LTV Posted
CA $200K Manufactured Purchase 750 50% 7/30/2013
Details description Borrower is well qualified wants to purchase an investment property that is a manufactured home. Can put up to 50% down. Property is on a permanent foundation.
MD $392K Single-Family Refinance 720 30% 7/30/2013
Details description 99K heloc and 226 first...also cash out to pay off 66K on 2nd home (ltv on 2nd home around 17%) former business owner currently has social security 36K and draws about out of IRA.. ...
TX $1M Single-Family Refinance 689 55% 7/18/2013
Details description self-employed need a 43% DTI looking for a 10 yr ARm


Should CFPB have more supervision over credit agencies?