Wells Fargo is the champ at the moment. I'm seeing contractor draw payments in 2-3 days. Prospect Mortgage is going to start making the first draw on a streamlined 203k at close of escrow in January... they are already one of the largest 203k lenders in the nation. That will move them strongly into second place I believe. Lots of independent FHA lenders out there... smaller banks etc that can close them pretty fast. Don't discount the little guys.
I had a strange call tonight. She said she was a borrower gathering info.. .sounded a little more line an interview for a news program.... who knows. She had already made up her mind on a consultant but was searching for info on lenders. She had been thinking about BofA but they have a little more to show me but they are getting better each week. We are still seeing about two weeks to get a draw out to our contractors.
Sun West Mortgage makes the first two draws on 203k loans which takes care of the Streamlined k pretty well. Sun West is in about 47 states I think. They also wholesale... please tell them where you heard about them. Mike Simas is the Wholesale Mgr. Contact me if you would like his phone number.
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