Home › Forums › Closed Forums › Buying and Selling RE › Cross Qualifying – Just Say No!
- This topic has 105 replies, 6 voices, and was last updated 14 years, 5 months ago by
CA renter.
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June 28, 2011 at 9:56 AM #707540June 28, 2011 at 10:14 PM #706450
paramount
ParticipantJust for the record, SDR was right – a 5 minute call with a DU approval and the matter was closed.
June 28, 2011 at 10:14 PM #706547ParticipantJust for the record, SDR was right – a 5 minute call with a DU approval and the matter was closed.
June 28, 2011 at 10:14 PM #707146ParticipantJust for the record, SDR was right – a 5 minute call with a DU approval and the matter was closed.
June 28, 2011 at 10:14 PM #707297ParticipantJust for the record, SDR was right – a 5 minute call with a DU approval and the matter was closed.
June 28, 2011 at 10:14 PM #707660ParticipantJust for the record, SDR was right – a 5 minute call with a DU approval and the matter was closed.
June 28, 2011 at 11:31 PM #706480CA renter
Participant[quote=AN][quote=CA renter]In other words, if you could have borrowed from the last note holder, you would have been paying less in interest/fees.[/quote]
That’s the problem with your assumption. I can’t borrow directly from the party who’s currently holding my loan (Fannie May). I hope you’re aware of the difference between retail and wholesale. Borrower can’t get access to those money. We can only borrow at retail. I already stated that I looked into refi when my loan changed hands and would have to pay HIGHER rate than the rate I have.[/quote]And you have no idea how much I despise the government’s role in forcing us to use middle men who’ve paid off someone in congress. If the government is taking the risk, then “We the People” are taking the risk, and should be rewarded by having direct access to OUR govt lenders.
There are so many areas where we’re forced to use middle men who do ABSOLUTELY NOTHING but pocket profits that belong to either the government or the customers.
June 28, 2011 at 11:31 PM #706577Participant[quote=AN][quote=CA renter]In other words, if you could have borrowed from the last note holder, you would have been paying less in interest/fees.[/quote]
That’s the problem with your assumption. I can’t borrow directly from the party who’s currently holding my loan (Fannie May). I hope you’re aware of the difference between retail and wholesale. Borrower can’t get access to those money. We can only borrow at retail. I already stated that I looked into refi when my loan changed hands and would have to pay HIGHER rate than the rate I have.[/quote]And you have no idea how much I despise the government’s role in forcing us to use middle men who’ve paid off someone in congress. If the government is taking the risk, then “We the People” are taking the risk, and should be rewarded by having direct access to OUR govt lenders.
There are so many areas where we’re forced to use middle men who do ABSOLUTELY NOTHING but pocket profits that belong to either the government or the customers.
June 28, 2011 at 11:31 PM #707177Participant[quote=AN][quote=CA renter]In other words, if you could have borrowed from the last note holder, you would have been paying less in interest/fees.[/quote]
That’s the problem with your assumption. I can’t borrow directly from the party who’s currently holding my loan (Fannie May). I hope you’re aware of the difference between retail and wholesale. Borrower can’t get access to those money. We can only borrow at retail. I already stated that I looked into refi when my loan changed hands and would have to pay HIGHER rate than the rate I have.[/quote]And you have no idea how much I despise the government’s role in forcing us to use middle men who’ve paid off someone in congress. If the government is taking the risk, then “We the People” are taking the risk, and should be rewarded by having direct access to OUR govt lenders.
There are so many areas where we’re forced to use middle men who do ABSOLUTELY NOTHING but pocket profits that belong to either the government or the customers.
June 28, 2011 at 11:31 PM #707327Participant[quote=AN][quote=CA renter]In other words, if you could have borrowed from the last note holder, you would have been paying less in interest/fees.[/quote]
That’s the problem with your assumption. I can’t borrow directly from the party who’s currently holding my loan (Fannie May). I hope you’re aware of the difference between retail and wholesale. Borrower can’t get access to those money. We can only borrow at retail. I already stated that I looked into refi when my loan changed hands and would have to pay HIGHER rate than the rate I have.[/quote]And you have no idea how much I despise the government’s role in forcing us to use middle men who’ve paid off someone in congress. If the government is taking the risk, then “We the People” are taking the risk, and should be rewarded by having direct access to OUR govt lenders.
There are so many areas where we’re forced to use middle men who do ABSOLUTELY NOTHING but pocket profits that belong to either the government or the customers.
June 28, 2011 at 11:31 PM #707690Participant[quote=AN][quote=CA renter]In other words, if you could have borrowed from the last note holder, you would have been paying less in interest/fees.[/quote]
That’s the problem with your assumption. I can’t borrow directly from the party who’s currently holding my loan (Fannie May). I hope you’re aware of the difference between retail and wholesale. Borrower can’t get access to those money. We can only borrow at retail. I already stated that I looked into refi when my loan changed hands and would have to pay HIGHER rate than the rate I have.[/quote]And you have no idea how much I despise the government’s role in forcing us to use middle men who’ve paid off someone in congress. If the government is taking the risk, then “We the People” are taking the risk, and should be rewarded by having direct access to OUR govt lenders.
There are so many areas where we’re forced to use middle men who do ABSOLUTELY NOTHING but pocket profits that belong to either the government or the customers.
June 28, 2011 at 11:58 PM #706500an
Participant[quote=CA renter]And you have no idea how much I despise the government’s role in forcing us to use middle men who’ve paid off someone in congress. If the government is taking the risk, then “We the People” are taking the risk, and should be rewarded by having direct access to OUR govt lenders.
There are so many areas where we’re forced to use middle men who do ABSOLUTELY NOTHING but pocket profits that belong to either the government or the customers.[/quote]
I agree with this point, but this is a totally different debate. I stand by my original statement/point.June 28, 2011 at 11:58 PM #706598Participant[quote=CA renter]And you have no idea how much I despise the government’s role in forcing us to use middle men who’ve paid off someone in congress. If the government is taking the risk, then “We the People” are taking the risk, and should be rewarded by having direct access to OUR govt lenders.
There are so many areas where we’re forced to use middle men who do ABSOLUTELY NOTHING but pocket profits that belong to either the government or the customers.[/quote]
I agree with this point, but this is a totally different debate. I stand by my original statement/point.June 28, 2011 at 11:58 PM #707197Participant[quote=CA renter]And you have no idea how much I despise the government’s role in forcing us to use middle men who’ve paid off someone in congress. If the government is taking the risk, then “We the People” are taking the risk, and should be rewarded by having direct access to OUR govt lenders.
There are so many areas where we’re forced to use middle men who do ABSOLUTELY NOTHING but pocket profits that belong to either the government or the customers.[/quote]
I agree with this point, but this is a totally different debate. I stand by my original statement/point.June 28, 2011 at 11:58 PM #707347Participant[quote=CA renter]And you have no idea how much I despise the government’s role in forcing us to use middle men who’ve paid off someone in congress. If the government is taking the risk, then “We the People” are taking the risk, and should be rewarded by having direct access to OUR govt lenders.
There are so many areas where we’re forced to use middle men who do ABSOLUTELY NOTHING but pocket profits that belong to either the government or the customers.[/quote]
I agree with this point, but this is a totally different debate. I stand by my original statement/point. -
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