…more 100% financing evaporates, this time from HSBC and affecting what we call ALT A.-not “A paper”, but not quite subprime either.   Keep an eye on your 100% financing, even if it is already approved.   If your lock expires before you can close, you may be without a loan. 

PLEASE LOCK ALL 80/20 SIVA AND FULL DOC LOANS ALREADY REGISTERED TODAY WITH HSBC!!

HSBC WILL HONOR ALL LOANS ALREADY LOCKED BUT WILL NOT ACCEPT ANY MORE!!

NEW GUIDELINES WILL GO INTO EFFECT ON ALT-A IMMEDIATELY

SIVA (stated income, verified assets) MAX CLTV 90%

FULL DOC MAX CLTV 95%