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Discussion Starter · #1 ·
Love this website!!

If anyone needs help securing a home loan, shoot me a PM.
No minimum credit score requirements for FHA financing.
NO JOKE!!!
 

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Discussion Starter · #3 ·
2Cool

I meant this site....2Cool.
PM me if you have any questions. I work for a big lender who is the only one not requiring a min FICO on FHA's.
 

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Sounds like what got us in trouble before. I guess we taxpayers will end up bailing them out.
Love this website!!

If anyone needs help securing a home loan, shoot me a PM.
No minimum credit score requirements for FHA financing.
NO JOKE!!!
 

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Discussion Starter · #5 ·
Not Even close!!

I wasn't a part of that whole "get you in a house you can't afford" bit.

Just because we don't require a min FICO score doesn't mean anyone can get a loan. Each situation is different.

Need to be on the job 2+ years
Have 3.5% or more (down pmt) in the bank for 2 months
At least 3 tradelines/credit lines
Then we can take a look.
If you have a bunch of lates, NSF's and a bunch of debt, that's a different story. Can't help ya there!

Sounds like what got us in trouble before. I guess we taxpayers will end up bailing them out.
 

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Novel idea "have a job". LOL
I wasn't a part of that whole "get you in a house you can't afford" bit.

Just because we don't require a min FICO score doesn't mean anyone can get a loan. Each situation is different.

Need to be on the job 2+ years
Have 3.5% or more (down pmt) in the bank for 2 months
At least 3 tradelines/credit lines
Then we can take a look.
If you have a bunch of lates, NSF's and a bunch of debt, that's a different story. Can't help ya there!
 

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Velinda
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234 Posts
I would like to see a loan you closed in the last 30 days with a score of 580. We all know that with a score that low, there are multiple issues with credit that would be extremely hard to explain.

Here is a quote from Fannie Mae posted 12/12/09. "Fannie Mae, the mortgage insurer, announced early this week that it is revising the eligibility, underwriting, and pricing policy to support housing market liquidity and sustainability. In a statement (PDF file) released on Tuesday, Fannie Mae said that starting December 12, 2009, the minimum credit score will be increased to 620 for all loans delivered to Fannie Mae, including loans insured or guaranteed by a federal government agency (Federal Housing Administration (FHA), Veterans Affairs (VA), Rural Development (RD), and the U.S. Department of Housing and Urban Development (HUD))."

Likewise, other lenders are imposing a minimum score of 640.

I wasn't a part of that whole "get you in a house you can't afford" bit.

Just because we don't require a min FICO score doesn't mean anyone can get a loan. Each situation is different.

Need to be on the job 2+ years
Have 3.5% or more (down pmt) in the bank for 2 months
At least 3 tradelines/credit lines
Then we can take a look.
If you have a bunch of lates, NSF's and a bunch of debt, that's a different story. Can't help ya there!
 

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Discussion Starter · #9 ·
Just did one...

Like I said, we are the only lender doing them right now. I closed 2 in Nov. and 1 in Dec. with less than 600 FICO. No, they were not easy loans but with the proper guidence and diligent borrowers, it can be done!

If you don't belive me then I will put my money where my mouth is! Send me one of your turndowns and let me take a look see!
No junk, but a deal that make sense, just not a high enough FICO.:cool:
Beto

I would like to see a loan you closed in the last 30 days with a score of 580. We all know that with a score that low, there are multiple issues with credit that would be extremely hard to explain.

Here is a quote from Fannie Mae posted 12/12/09. "Fannie Mae, the mortgage insurer, announced early this week that it is revising the eligibility, underwriting, and pricing policy to support housing market liquidity and sustainability. In a statement (PDF file) released on Tuesday, Fannie Mae said that starting December 12, 2009, the minimum credit score will be increased to 620 for all loans delivered to Fannie Mae, including loans insured or guaranteed by a federal government agency (Federal Housing Administration (FHA), Veterans Affairs (VA), Rural Development (RD), and the U.S. Department of Housing and Urban Development (HUD))."

Likewise, other lenders are imposing a minimum score of 640.
 

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Velinda
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234 Posts
I haven't had a turndown on any loan! We all see through your post, just a c'mon to get people to call you. Bank of Anmerican is one of my wholesale lenders, just one of many.......where you are stuck on the retail side and only have that one lender to work with. I can pick the lender that best suits the borrower and their situation.

And no, you are not the only lender doing them right now.
 

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Discussion Starter · #11 ·
Typical Broker....

That's not nery nice Shirley but I would expect as much from a broker.
If there is any other lender doing less than a 620 FICO then why did you go throught the trouble of posting a quote from Fannie Mae.
I am about info not hype. The ol "i can choose from different lenders" is a pretty big c'mon. It makes no difference if you have crappy credit.

Good luck Shirley and I would appreciate if you would not comment on my posts if you can't be professional.
Beto

I haven't had a turndown on any loan! We all see through your post, just a c'mon to get people to call you. Bank of Anmerican is one of my wholesale lenders, just one of many.......where you are stuck on the retail side and only have that one lender to work with. I can pick the lender that best suits the borrower and their situation.

And no, you are not the only lender doing them right now.
 

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Velinda
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Typical Banker

I like to let people know the facts. I am not going to mislead someone. It would take extenuating circumstances to get a loan approved for someone with a 580 score.

I am not surprised by your comment, being a banker and only having one lender. We have already established that my par rate with Bank of America (wholesale) is less than yours (retail) and I have many more lenders to place a loan with, plus turn times are quicker.

That's not nery nice Shirley but I would expect as much from a broker.
If there is any other lender doing less than a 620 FICO then why did you go throught the trouble of posting a quote from Fannie Mae.
I am about info not hype. The ol "i can choose from different lenders" is a pretty big c'mon. It makes no difference if you have crappy credit.

Good luck Shirley and I would appreciate if you would not comment on my posts if you can't be professional.
Beto
 

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Discussion Starter · #13 ·
The facts

The fact is I can do it under the right circumstance and you can't. Not to mention that I don't sell rate, I sell service. You can tell people all day long you get a better rate but you know as well as I that rate is based off of FICO! BTW, do you tell your people that your making 4 points on the back. What about that fact??
Let's not get in a pi******* match here. Keep your comments to yourself if they are not constructive.

I like to let people know the facts. I am not going to mislead someone. It would take extenuating circumstances to get a loan approved for someone with a 580 score.

I am not surprised by your comment, being a banker and only having one lender. We have already established that my par rate with Bank of America (wholesale) is less than yours (retail) and I have many more lenders to place a loan with, plus turn times are quicker.
 

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Velinda
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The fact is, I can do them, so what you said is false! The fact is with the same customer, my rate is better than yours and that upsets you...plus I have excellent service and customer satisfaction. I don't hand my loans off too someone else to process.

BTW, your statement about making 4 points on the back....shows how uneducated and ignorant you are. You are a banker, you can keep anything on the back and not reveal it to the borrower...where I reveal it and it is given back to the borrower as a credit. The FACT IS, I DO NOT MAKE ANYTHING ON THE BACK!

You should follow your own advice.

The fact is I can do it under the right circumstance and you can't. Not to mention that I don't sell rate, I sell service. You can tell people all day long you get a better rate but you know as well as I that rate is based off of FICO! BTW, do you tell your people that your making 4 points on the back. What about that fact??
Let's not get in a pi******* match here. Keep your comments to yourself if they are not constructive.
 

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Discussion Starter · #15 ·
Pfftt........

Cover your a** all you want. Everyone knows how shady brokers are.
Like I said, I don't sell rate, I sell service. With a 99% pull through, I think I can speak confidently.
And if you expect me to belive you make nothing on the back.......I have a bridge I want to sell you!!!:rotfl:

The fact is, I can do them, so what you said is false! The fact is with the same customer, my rate is better than yours and that upsets you...plus I have excellent service and customer satisfaction. I don't hand my loans off too someone else to process.

BTW, your statement about making 4 points on the back....shows how uneducated and ignorant you are. You are a banker, you can keep anything on the back and not reveal it to the borrower...where I reveal it and it is given back to the borrower as a credit. The FACT IS, I DO NOT MAKE ANYTHING ON THE BACK!

You should follow your own advice.
 

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Cover your a** all you want. Everyone knows how shady brokers are.
Like I said, I don't sell rate, I sell service. With a 99% pull through, I think I can speak confidently.
And if you expect me to belive you make nothing on the back.......I have a bridge I want to sell you!!!:rotfl:
So where is this bridge you're talking about.....?
 

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Dear Beto,
As far as coming onto this website and trolling for customers through a very shady entry line, as well as telling the lady who bent over backwards and refinanced my home and was right on the button about every number available and never once tried to mislead me in any way to lure in a sucker, (such as you are doing), that she can't get a better rate---because she did for me---better than any banker would offer, you need to get a clue and realize that spammers like you are a dime a dozen.
And all of y'all need to take a long walk off a very short pier.

Sincerely,
Louie Baumann
 

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Discussion Starter · #19 ·
That great!!!!!

Hey Louis,
I'm glad she did a good job for you.
Does that give her the right to give me **** on a something she thinks is not true??

Don't think so!!

BTW, I never said I could get the lowest rate. That is a sucker line!
So back to the original post.......FHA finacing available with less than a 620 FICO!!:texasflag

Dear Beto,
As far as coming onto this website and trolling for customers through a very shady entry line, as well as telling the lady who bent over backwards and refinanced my home and was right on the button about every number available and never once tried to mislead me in any way to lure in a sucker, (such as you are doing), that she can't get a better rate---because she did for me---better than any banker would offer, you need to get a clue and realize that spammers like you are a dime a dozen.
And all of y'all need to take a long walk off a very short pier.

Sincerely,
Louie Baumann
 

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Velinda
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Typical Banker!

Looks to me you just proved how shady you are, making false statements and trying to sell a brige you don't own. You are very ignorant to make a statement that brokers make money on the back.....we don't, it all goes to the borrower! Of course bankers keep that and don't reaveal it to the borrower.

Cover your a** all you want. Everyone knows how shady brokers are.
Like I said, I don't sell rate, I sell service. With a 99% pull through, I think I can speak confidently.
And if you expect me to belive you make nothing on the back.......I have a bridge I want to sell you!!!:rotfl:
 
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