You need complete employment information for the correct answer. Also, they have 10k from their savings account and then an additional 4k 401k? Or they are using their 401k as well? Why is the FICO 675? What else is on their bureau. What is their DTI?
There is a reason a COMPLETE 1003 is required. If you give partial information, you will get a partially correct answer.
It depends on the loan amount, etc. But as a “ballpark” 660+. If you have an exact scenario I can give you a better answer on where the market is at specifically.
It depends on the loan amount, etc. But as a “ballpark” 660+. If you have an exact scenario I can give you a better answer on where the market is at specifically.
Wow. “Countrywide is a disaster”, the “poster child of bad mortgage banking” an “incompetent company”.
Not to be rude, but this thread is a bit ridiculous. I’ve been in the mortgage business for almost 20 years, and I promise you (despite the recent bad press) that you can not gain the market share that CW has by being “the poster child of bad mortgage banking”.
Desk reviews are pretty standard. Most important are the comps that were used (or not used) and the adjustments that were made against the subject property.
