600 fico loans: My REALTOR Says You Can Approve My FHA Purchase With A 600 FICO Score, Just Like Wells Fargo - 04/05/11 08:16 AM
600 FICO!  3.5% Down!  "A Proactive Approach Because You Deserve It!"  ...and other marketing drivel...
Inside Wells Fargo...
According to an insider at Wells Fargo Bank, this program (nationwide) has resulted in the following since its recent inception:
10,000 loan applications (Good!) 5,000 loan rejections (Bad!) 18 loan approvals (Ugly!) The rest of the loans are still out there in limbo.  (That's a technical term for "We haven't gotten to your loan yet.  We're busy working on other loans.)
REALTOR Marketing Implications:
This is not a profitable segment of your market.  Don't spend a lot of emotional capital or marketing dollars … (64 comments)

 
Mike Jones, Mike Jones NMLS 223495 (SUNSTREET MORTGAGE, LLC  (BK-0907366, NMLS 145171) 	)

Mike Jones

Mike Jones NMLS 223495

Tucson, AZ

More about me…

SUNSTREET MORTGAGE, LLC (BK-0907366, NMLS 145171)

Address: 1725 E Skyline Dr, Tucson, AZ, 85718

Mobile: (520) 349-9090

Fax: (520) 477-0732

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