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203k lenders

By
Home Inspector with 203kOnLine.com, covering the USA S0289

Watching the news for you... Taylor Bean and Whitaker have been suspended from making the FHA loans as of early this month. The FHA notification system just sent out a notice on this. If you have a 203k with them and it hasn't closed better get hopping to see if it even will close. You may need to move the loan to another lender.

Posted by

Mike Young, 203k Team Leader    Mike ready for your 203k order

To learn more about the FHA 203k loan program go to www.203kOnLine.comWhat is your fee? 

Got a 203k project giving you "fits" contact www.203k911.com. If you are looking for quality 203k software for consultants to speed up the underwriting process..

877-207-6565  state your name when asked please, it is dialing me at the same time.

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Comments (8)

Dan Quinn
The Eric Steart Group of Long & Foster Real Estate - Silver Spring, MD
Dan Quinn

I was just bitten by TBW and nearly lost the deal in the process.  I say out with the bad and in with the good.  Let's hope there's some good lenders left when it it all over!

Aug 12, 2009 01:38 AM
Mike Young
203kOnLine.com, covering the USA - Stallings, NC
FHA 203k Consultant 916-758-1809

Thanks for the comment. Who are you using now? There are some good ones out there. I see BofA old Countrywide people are still very active with the k at the wholesale level as well as American Financial Resources, Tom Kowick 803-419-2335 as listed on my web site.

Aug 12, 2009 01:48 AM
Dan Quinn
The Eric Steart Group of Long & Foster Real Estate - Silver Spring, MD
Dan Quinn

Mike, I am using a guy with Prosperity Mortgage (Wells Fargo underwrites).  He has got it goin on.  I think the key is to use someone who specializes in the 203k, otherwise the deal is likely to fail.

Aug 22, 2009 06:41 AM
Mike Young
203kOnLine.com, covering the USA - Stallings, NC
FHA 203k Consultant 916-758-1809

It is all about teams... isn't it. When you get one that works stay with it. I work quite a bit with Prosperity Mortgage and was under the impression they would underwrite them themselves then sell them once the loan closes. There are a lot of direct endorsment lenders out there and they are able to close these loans a little faster than the big guys some times. Thank you for your comment, I appreciate it.

Aug 23, 2009 08:07 AM
Anonymous
Need help

I need a direct contact with a lender fas fell out of escrow trying to get it recinnded and reopened t due to a bad mortage broker and underwriter.... Please help trying to salvage the deal.....

 

Sep 18, 2009 03:03 PM
#5
Anonymous
need help

Sorry, I didnt  explain exactly what   I need.. I need a 203k fyll paper lender to try to recind the cancelled escrow that I was in. The Mortgage broker  lacked communications with the seller, not returning calls and keeping him in the loop the the bank lost their patience. I am trying to  get mu loan package back from the broker to give to a new lender to close the deal if I can get this in place I will be able to recind the cancelled escrow.  Please any help on pointing me to a direct 203k lender is very appreciated. 

I have all the docs appraisals contractors  estimates.  Everthing was done  except my mortage broker state that they did these 203k loans when infact NEVER had they only the streamline...

Any help ?

Thanks.

 

Sep 18, 2009 03:09 PM
#6
Mike Young
203kOnLine.com, covering the USA - Stallings, NC
FHA 203k Consultant 916-758-1809

Interesting.. who are you? Where are you? I'm not sure the open forum is the best way for this question to move forward. Please call me 704-451-1599 asap. In order to help you I need to know where you are, what part of the country so I will then know where to direct you. Are you a home buyer? 

 

I can assist you but I need more info from you to better serve your need. Right now the smaller DE lenders who have in house underwriting and maintain the draw disbursement clearly have an advantage over the majors in the business as they are just too busy in most cases. I have a new one that coming on board but they only work in particular areas of the country. I look forward to hearing from you.

M

Sep 18, 2009 09:50 PM
Mike Young
203kOnLine.com, covering the USA - Stallings, NC
FHA 203k Consultant 916-758-1809

Need help

to answer your question we need to know where you are trying to do the 203k? Location matters a great deal. If you are on the west coast... I have a great lender but they don't loan on the east coast. I have other great recommendations for MI, TX, NC or SC, etc... If you really want an honest answer to your question maybe you should call me... 704-451-1599 9-5 M-F . I will tell you this, smaller DE lenders have an advantage right now over the majors who all appear a little overwhelmed at the moment. A smaller DE lender who underwrites their own paper and holds the 203k until the rehab is completed so they disburse the draw monies. We provide that disbursement service when asked as well.

Sep 20, 2009 11:33 AM