|
|
| |
stated: Documentation waivers still exist......
- 12/13/08 06:34 AM
Just an FYI (especially for Minnesota), we still have the ability to issue (and are issuing) loan approvals based on income, asset and, on some refinances, even appraisal documentation waivers.....
I don't know of anyone else doing this....as a matter of fact, I was just referred a loan recently from a friend of mine at US Bank because they couldn't do a documentation waiver program-yes, I have the preliminary approval and the loan is locked!
The big difference is we don't have any chart like in the past that says "if this and this then it qualifies for that". It is a waiver program that … (0 comments)
|
stated: What happened to lending in Minnesota?
- 08/08/07 02:14 AM
You have heard a lot of rumors about the lending practices in Minnesota that went into effect August 1st. To my surprise, a lot of mortgage brokers I talked to (even recently) had no idea what was even coming until the emails start pouring into their in box telling them their programs are now gone.
Realtors-If you have a purchase closing soon in this great state, do yourself a favor and keep in contact with the lender-and I'd do it whether you are the buying or selling agent! If you have a "full documentation" program, chances are you should be fine-if you … (6 comments)
|
|
|
|
|
|
|
|
Just an FYI (especially for Minnesota), we still have the ability to issue (and are issuing) loan approvals based on income, asset and, on some refinances, even appraisal documentation waivers.....
;)
;)
