Why would a 650+ Go Sub-Prime?

By
Mortgage and Lending with Southwest Funding

"The Sub-Prime market is slowing, credit standards are tightening, home values are flattening, and clients are no longer banging down doors to refinance. As a result, professionalism and expertise are more important than ever..."

- Barry Habib
CEO, Mortgage Market Guide

When someone mentions the word "Sub-Prime" most loan officers think of low credit scores in the 500-range or 580 100% loans. Sub-Prime can offer you SO MUCH MORE to help you capture additional business. As a loan officer, knowing the options available to help serve your clients is KEY. Make sure you are using all of the tools available to you, or your competitor will.

DFWLoanOfficer

Comments (2)

MAUREEN STACCATO
Springfield, MA
if you have a 650- that is crazy to go sub prime. Unless of course there was a BK in past 2 years then you would have to go sub prime.
May 18, 2007 03:14 AM
Jeff Schraeder
Southwest Funding - Dallas, TX
I still have many banks that will do a 650 on A paper, but this the direction the banks are going.
May 18, 2007 03:32 AM