- Name
- Nancy Lopez
- Company
- Secured Funding Group
- E-mail
- Contact Nancy Lopez (Secured Funding Group)
- Website
- http://www.myspace.com/selling_money
- Office Phone
- (818) 545-9100
- Cell Phone
- (818) 942-4321
- Address
- 1314 West Glenoaks Blvd Suite 203, Glendale , CA
- Description
- To Help You Find the Best Mortgage Lenders to Suit Your Needs. Be it, SubPrime, A-Paper, Pay Option ARM, Equity Lines and Closed End 2nd’s.
My Background
My name is Nancy Lopez, and I'm a Loan Officer with Glendale based Secured Funding Group, Inc. I have been in this industry since 1997, most of my experience consists of FHA, Conventional, and Soft City seconds (CHFA, Homeworks, and City Bonds). My area of specialty is purchase and New Construction loans. In fact, 80% of the loans that I close are purchase loans, mostly by referral. But, I take my area of specialty a little further.... Because at Secured Funding Group, Inc. we work with various mortgage lenders, our selection of prime and sub-prime criteria is less stringent with our mortgage lenders, so I am thrilled to offer your buyers a loan, even if they have been turned down before. As a mortgage processor with Countrywide's Retail Division since 2001; I understand "first hand" what this industry entails. Most recently I've worked with mortgage brokers, correspondent, wholesale and retail lenders. A large part of my background has come from mortgage processing. I know what the demands of the mortgage industry requires, I have taken my years of experience and apply it as tool and my background has given me the advantage so I can turn around a "difficult deal" in about a week's time.
What I do
At Secured Funding Group, Inc, I am known as the "go-to-girl" for difficult loans. Call me crazy, but I like the challenge. I'm able to fund loans that other loan officers are unable to fund and I am able to do so quickly. First Secured Funding Group, Inc. has been in business for 13 years and we have always been centrally located in Glendale. I hope that you have learned a little more about me I hope to know more about you!!!
Note: Take the time to order your credit report from all three credit reporting agencies and check it for errors. The 3 major credit reporting agencies are: Equifax, TransUnion, and Experian.
Credit, Loan Limits, and Links
The interest rates quoted for A-, B, C or D papers, like for adjustable programs, could vary vastly from lender to lender.
Below are typical of the requirements used by many lenders, but are not absolute grades - lenders typically have similar but somewhat different specifications.
| Grade | Credit Score | Debt Ratio | Max LTV | Delinquencies
within last
12 months | Credit | Bankruptcy / Foreclosure | | Mortgage | Installment | Revolving | | A+ to A | 670+ | 36-38 | 95-100 | 30 days | 0 | 0-1 | 1-2 | Good/excellent credit during last 2-5 years. No mortgage lates within 24 months. No bankruptcy within the last 2-10 years. | | 60 days | 0 | 0 | 0-1 | | A- | 650 | 45 | 95 | 30 days | 0-1 | 1-2 | 2-3 | No 60-day mortgage lates. Minimum 24-48 months since bankruptcy discharge. | | 60 days | 0 | 0-1 | 0-2 | | B+ to B- | 620 | 50 | 75-85 | 30 days | 1-2 | 2-4 | 3-5 | 24-48 months since bankruptcy discharge. Re-established credit. | | 60 days | 0-1 | 1-2 | 1-2 | | C+ to C- | 580 | 55 | 75 | 30 days | 3-4 | 4-6 | 5-7 | 12-24 months since bankruptcy discharge. | | 60 days | 0-2 | 2-4 | 3-5 | | D+ to D- | 550 | 60 | 65-70 | 60 days | 1-3 | 5-7 | 6-8 | Bankruptcy discharged within last 12 months. | | Poor payment record with limited 90 day, isolated 120 day lates. | | E | 520- | 65 | 50-65 | Poor payment record with a pattern of 30, 60 and 90+ lates | Possible current bankruptcy or foreclosure. Stable current employment. |
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Please note that the figures shown here are general guidelines and vary from lender to lender. Exceptions are always possible with strong compensating factors that reflect low credit risk. Compensating factors are history of savings, long-term job stability, history of making monthly credit payments that equal or exceed the proposed payments, a substantial down payment or a large cash reserve after the close of escrow. |
2007 conforming loan limits-
*One-family: $417,000*Two-family: $533,850*Three-family: $645,300*Four-family: $801,950**
The maximum loan amount is 50 percent higher in Alaska, Guam, Hawaii, and the Virgin Islands. Properties with five or more units are considered commercial properties and are handled under different rules.
Mortgage Calculators....Open the links in a new window (left click)
