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moneymaker
ParticipantBy origination I mean appraisal,underwriting,lock one loan, float the other. Sorry if I’m using the wrong terminology.
ParticipantBy origination I mean appraisal,underwriting,lock one loan, float the other. Sorry if I’m using the wrong terminology.
ParticipantI’m convinced that a FHA @ 4.875% with 0.5% discount point is about as good as it’s going to get for someone putting down only 3.5%. What do you think HLS? Do you expect 4.5% for FHA? I don’t think we will see that without points for FHA.
ParticipantI’m convinced that a FHA @ 4.875% with 0.5% discount point is about as good as it’s going to get for someone putting down only 3.5%. What do you think HLS? Do you expect 4.5% for FHA? I don’t think we will see that without points for FHA.
ParticipantI’m convinced that a FHA @ 4.875% with 0.5% discount point is about as good as it’s going to get for someone putting down only 3.5%. What do you think HLS? Do you expect 4.5% for FHA? I don’t think we will see that without points for FHA.
ParticipantI’m convinced that a FHA @ 4.875% with 0.5% discount point is about as good as it’s going to get for someone putting down only 3.5%. What do you think HLS? Do you expect 4.5% for FHA? I don’t think we will see that without points for FHA.
ParticipantI’m convinced that a FHA @ 4.875% with 0.5% discount point is about as good as it’s going to get for someone putting down only 3.5%. What do you think HLS? Do you expect 4.5% for FHA? I don’t think we will see that without points for FHA.
January 10, 2009 at 10:29 PM in reply to: New Paradigm: The job market is the biggest economic problem #326906ParticipantI see it as silly that desktop underwriters would bother to look at 401k savings also. They can not attach it(make any liens or get judgements), it is for retirement, not for paying the mortgage. Yet they want to know !- by the way Rich I think the clock on the server is on Mountain time has that always been the case, I guess I’m not too observant.
January 10, 2009 at 10:29 PM in reply to: New Paradigm: The job market is the biggest economic problem #327245ParticipantI see it as silly that desktop underwriters would bother to look at 401k savings also. They can not attach it(make any liens or get judgements), it is for retirement, not for paying the mortgage. Yet they want to know !- by the way Rich I think the clock on the server is on Mountain time has that always been the case, I guess I’m not too observant.
January 10, 2009 at 10:29 PM in reply to: New Paradigm: The job market is the biggest economic problem #327316ParticipantI see it as silly that desktop underwriters would bother to look at 401k savings also. They can not attach it(make any liens or get judgements), it is for retirement, not for paying the mortgage. Yet they want to know !- by the way Rich I think the clock on the server is on Mountain time has that always been the case, I guess I’m not too observant.
January 10, 2009 at 10:29 PM in reply to: New Paradigm: The job market is the biggest economic problem #327337ParticipantI see it as silly that desktop underwriters would bother to look at 401k savings also. They can not attach it(make any liens or get judgements), it is for retirement, not for paying the mortgage. Yet they want to know !- by the way Rich I think the clock on the server is on Mountain time has that always been the case, I guess I’m not too observant.
January 10, 2009 at 10:29 PM in reply to: New Paradigm: The job market is the biggest economic problem #327419ParticipantI see it as silly that desktop underwriters would bother to look at 401k savings also. They can not attach it(make any liens or get judgements), it is for retirement, not for paying the mortgage. Yet they want to know !- by the way Rich I think the clock on the server is on Mountain time has that always been the case, I guess I’m not too observant.
ParticipantYes agreed, just learned today that HELOC’s are considered revolving charge accounts by FICO. So even if one is on the ball, has a good job, may still not be able to refi as FICO may be lowered without one being aware of it because of debt-to-income ratio. Many negative reinforcing cycles such as these, may create a reinforcing down cycle. How will the government collect more tax money with fewer people working?
ParticipantYes agreed, just learned today that HELOC’s are considered revolving charge accounts by FICO. So even if one is on the ball, has a good job, may still not be able to refi as FICO may be lowered without one being aware of it because of debt-to-income ratio. Many negative reinforcing cycles such as these, may create a reinforcing down cycle. How will the government collect more tax money with fewer people working?
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