ALL BORROWERS MUST HAVE ONE BLUE EYE AND ONE BROWN EYE TO QUALIFY:
- - LTV > 65%, SIVA REQUIRES MINIMUM CREDIT SCORE OF 849
- - FOR ALL LTV > 65%, 360 MONTHS RESERVES REQUIRED
- - BORROWER'S MUST HAVE NO PREVIOUS BK'S IN THEIR FAMILY HISTORY GOING BACK THREE GENERATIONS
- - A MINIMUM OF 25 YEARS SELF-EMPLOYMENT HISTORY NOW REQUIRED FOR ALL NIV PROGRAMS (AT SAME LOCATION)
- - MINIMUM CREDIT SCORE FOR SUBPRIME LOANS RAISED TO 720
- - ALL ON-ARMS LENGTH TRANSACTION BORROWERS (MORTGAGE, REAL ESTATE PROFESSIONALS, FAMILY MEMBERS) WILL BE REQUIRED TO PROVIDE FULL DOCUMENTATION, SUBJECT TO CRIMINAL BACKGROUND CHECKS, WIRE TAPPING, STRIP-SEARCHES, AND A MINIMUM OF 12 HOURS INTERROGATION BY THE DEPARTMENT OF HOME LAND SECURITY.
PLEASE NOTE THAT THESE CHANGES WILL GO INTO EFFECT WITHIN THE NEXT FIVE MINUTES. SO PLEASE LOCK YOUR LOANS YESTERDAY. ALL EXISTING LOANS IN YOUR PIPELINE MUST FUND BY NOON TOMORROW.
WE APOLOGIZE FOR THIS INCONVENIENCE. WE REALIZE THESE ARE TOUGH TIMES IN THE MORTGAGE INDUSTRY FOR ALL OF US. BE ASSURE THAT WE HAVE A COMMITMENT TO REMAINING STRONG AND WEATHERING THE STORM. WE ASK FOR YOUR UNDERSTANDING AND COOPERATION.
SINCERELY,
YOUR "FINANCIALLY STABLE" WHOLESALE LENDER!
"WHERE YOU COME FIRST!"
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