Mortgage Broker Forums at Broker Outposthttps://forum.brokeroutpost.comBroker Outpost makes finding a qualifying loan program more efficient for mortgage brokers, and offers wholesale lenders an opportunity to market their unique loan programs. Loan search and support forums require registration, its free!Is Anybody Else Over It With The Repubs ?? (by: Featster) they are not faking their frontal lobotomy/autistic condition. Oh it is real: - Last Post by: Featster on 03/30/2017 @ 3:30 PMNon-Resident Work Authorization (by: RyLoans) purchase. Borrower has first time issued work authorization. FHA requires that it be valid for at least 12 months of funding date. If not, provide a copy of previous issued work authorization or obtain something from USCIS to show likelihood of renewal. Has anyone been able to have a buyer obtain this from USCIS? Client has an appointment with local office, but not sure he is going to be able to obtain this. If not, is there anything else that will work? - Last Post by: RyLoans on 03/30/2017 @ 3:26 PMFHA CPA letter (by: BMill) have a lady applying for a FHA loan who is self employed. Unfortunately her tax returns are all self prepared. Can a borrower simply sign and attest the self employed letter (like the CPA usually does)? Anyone run into this before? - Last Post by: BMill on 03/30/2017 @ 3:18 PMLead Swap (by: lemeuss) once in a while I get a lead in a state I am not licensed in. These are exclusive organic website hits. Is there a forum for lead swap? This might be unethical however I would feel good about it if I swapped with a straight up broker like myself. - Last Post by: lemeuss on 03/30/2017 @ 3:16 PMEver had issues with plagiarism? (by: lemeuss), Im assuming a competitor, forwarded a newspaper article to me that was plagiarized from my marketing work. Agent had to cough up some cash to avoid attorneys/court costs Anyone else ever have to deal with this? Ever turned in a competitor for illegal or stolen advertising? - Last Post by: lemeuss on 03/30/2017 @ 3:06 PMBranch Opportunities and the True Payouts (by: MarkIFC) would the best person be in learning more about branch opportunities. I have always been a broker, and know that model inside and out. I have been correspondent for about six months, and there are many benefits I like, include having systems in place, etc that make files flow better, and the model is built for scale. Im still testing the waters here to see what the better model is. The main downside is price, and who gets what in terms of compensation is not straight forward, or my business. I agreed to a set comp, and the rest, SRP goes to the branch, branch manager and corporate.. The branch manager gets a large fee, and out of that is paid the loan officer, and branch costs. So if the loan officer is getting say 1.5%, the branch might be getting 5%. Am I far off here? And for that, you have a rate that is probabably 50bps off from wholesale. We do broker out, however the comp for that is 2.75%, of which I dont get close to that. So Correspondant Better Benefits, 401K, Medical More Organized and Efficient Can get things signed off on easier More Control Quicker Turn Times Higher Rates Built to Scale Wholesale Broker Better Rates No Control Less Efficiency unless you build a team Not built to scale No Brand Recognition - Last Post by: MarkIFC on 03/30/2017 @ 2:57 PMHard Money Lenders (by: HardMoneyMN) is the best Hard Money Lender for Southern California? Please let me know, Im looking to start pumping out some volume! Thank you - Last Post by: HardMoneyMN on 03/30/2017 @ 2:40 PMAuto Lease Payoff/ Debt consolidation (by: azmann) Im in the process of doing a refi ( debt consolidation) for my client and my DTI is still a little too high. Underwriting is suggesting that we include the auto loan (-$650.00 payment & 11k balance ) into the payoff items. I have no issues with that and there is plenty of equity to cover it but the car is a lease ( not financed) and im not sure if thats the best option. What is your opinion ?? Yah or Nah - Last Post by: azmann on 03/30/2017 @ 2:09 PM< 2 years short sale seasoning (by: KnowsBetter) buyer (not my borrower in this transaction) paid off accounts and closed the tradelines. As a result, her score dropped 50 points, so the rate went from 6.125 to 7.75--a $675 difference in the payment. Shes freakin out, so I told her I would shop for a non-QM loan. Besides Citadel, who are the lenders for this scenario? I checked into an FHA loan using "Economic Event," but I dont think it fits those stringent guidelines. Man, FHA lenders do NOT like that program! - Last Post by: KnowsBetter on 03/30/2017 @ 1:13 PMLOS with CRM (by: mainemortgage) am looking for an LOS that takes applications then has a CRM (Customer Relationship Manager) integrated so I can send marketing emails to my customers. Does anyone know of such an item? Byte and Calyx should offer this. I know when I had a website through A La Mode (now Pipeline ROI) they had an integrated CRM, but you had to use their website to capture leads. I want my applicants that are now in Byte, to in the future be in a software that has marketing built in. Thank you. Christine [url][/url] - Last Post by: mainemortgage on 03/30/2017 @ 12:54 PMhard money lender needed / 100% / bad credit (by: jfraz001) Looking for a hard money lender doing 100% deal 70-75% ARV for a Bow with 640 Ficos in NJ. Please advise: - Last Post by: jfraz001 on 03/30/2017 @ 12:49 PMWhich Mortgage Broker Website company do you use? (by: SALINASBROKER1) am in the market to revamp and modernize my Broker website. I am interested in a compliant, user friendly, interactive website that contains mortgage calculators, a Smart App 1003, 3rd party integration, content and client management, a testimonial engine and a blog network. I have seen a myriad of companies who advertise their websites but I would like to know the tried and true feedback from actual Brokers who have used them. What companies do you recommend? Thanks. - Last Post by: SALINASBROKER1 on 03/30/2017 @ 12:37 PMAnyone here use MBS Pros? (by: hulkfunding) service seems to go down for a day or two every month. It wont allow me to log in again as of this morning. I always send an email on their support page, but nobody ever replies. If you dont use MBS Pros for live MBS data, who do you recommend? - Last Post by: hulkfunding on 03/30/2017 @ 12:26 PM565 Refi MN 50% LTV $200,000 loan (by: rjthegr8) did a construction loan and is looking for exit loan. Home should appraise for $400,000 or more and the lien on the property is $170,000 plus closing cost which will probably be closer to $200,000 If you can get this done or know someone who can Richard- El Bey (915) 315-3098 - Last Post by: rjthegr8 on 03/30/2017 @ 11:09 AMtest (by: nashloans66) - Last Post by: nashloans66 on 03/30/2017 @ 10:22 AMFHA Purchase Loan (by: JohnatAFC) wants to purchase new two family with FHA mortgage. Currently owns two family and that FNMA mortgage had a loan modification. Current 4000.1 reads that a mortgage that has been modified must utilize the payment history in accordance with the modification agreement for the time period of modification in determining late housing payments. I have an old note to myself that FHA could be OK with a prior loan modification as long as the balance of the mortgage was not increased. This one had a mortgage balance increase. Do you think I will be OK just running TOTAL with he current credit and pay history and not have to be concerned that as part of the modification the loan balance was increased and underwriter will see that. - Last Post by: JohnatAFC on 03/30/2017 @ 10:08 AMCistern and Wood Burning stoves (by: nowbroker) these be allowed under a conventional loan via Fannie or Freddie? - Last Post by: nowbroker on 03/30/2017 @ 09:55 AMC Corp owner W2ing oneself (by: MarkIFC) borrowers/buyers trying to go conventional. In business 2 yrs, C Corp. 50/50 owners. Started pay roll in 2016 with W2s and pay checks. Have continued pay roll throughout 2017. Will the W2/pay roll income require a 2 yr history to be considered effective? If not, will the 1 yr history and YTD be average out over 24 mos? Cannot do LP streamline as they have only owned the biz 2 yrs. - Last Post by: MarkIFC on 03/30/2017 @ 09:52 AMHard Money Loan to a Trust (by: KG3) there any hard money lenders who will make a loan to a trust? Thanks, - Last Post by: KG3 on 03/30/2017 @ 09:44 AMNew laptop for work (by: 1stintegritymortgage) would you suggest for having encompass on a laptop? My laptop is just not reliable. Thanks! - Last Post by: 1stintegritymortgage on 03/30/2017 @ 09:39 AMHELP (by: scottee10) need Rate/Term refin. $194k loan amount, GREAT Credit over 720 score, Plenty of seasoned reserves, LOW DTI. The issue is the home will only appraise for $170K, currently paying 6.375%. I would like 15 or 20 yr term. HARP will not work, not Fannie or Freddie. Please contact at Thanks - Last Post by: scottee10 on 03/30/2017 @ 09:20 AMNeed 300k hard money in CA 30% LTV purch (by: KG3) a client in Northern Cal who needs 300k to purchase 7 homes and 2 lots in Northern Cal. Appraised value 1mil. This is going to be a very short-term loan as the client intends to pay it off within a few days from a simultaneous closing. - Last Post by: KG3 on 03/30/2017 @ 09:04 AMNEED A VA LOAN LENDER IN GA (by: A $350K VA LOAN LENDER IN GA. NO SEASONING OF FUNDS, 100% LTV, 618 SCORE. - Last Post by: on 03/30/2017 @ 08:26 AMinvestment purchase (by: velecico) anyone do an investment purchase with only 10% down ? - Last Post by: velecico on 03/29/2017 @ 6:31 PMReverse mortgage compensation (by: velecico) know an open end mortgage like a reverse is not subject to the same LO compensation rules, so am curious what other shops do for compensation for the employed LO when they originate a reverse mortgage? Seems like some say it still falls under anti steering, and some say anything goes. For those who are not a one man/woman shop what is the LO comp based on for a reverse mortgage? - Last Post by: velecico on 03/29/2017 @ 6:28 PMHard Money (by: velecico) need hard money....80% owner occupied - Can go full doc. Both borrowers are w-2 - Last Post by: velecico on 03/29/2017 @ 6:25 PMCommercial Refi (by: velecico) everyone, I have a borrower that would like to refinance his commercial building located in San Bernardino CA. Warehouse appraisal value 900k Loan amount 490k LTV: 55% mid fico 593 wants a fix term if possible of 30 yrs CA - Last Post by: velecico on 03/29/2017 @ 6:22 PMCONSTRUCTION 3 FAM NY NOO (by: velecico) FOR 750000 LTV UNDER 50 720 FICO 3 FAMILY NOO BROOKLYN NY - Last Post by: velecico on 03/29/2017 @ 6:19 PMYikes! (by: peeper) do NOT want reviews like this! LOL (cut/paste into a new browser window) - Last Post by: peeper on 03/29/2017 @ 6:09 PMHard Money, Bridge loan Needed (by: adelphos) everyone, we have a customer that was advised not to make her mortgage payments so they could process a mod for her with principal deduction and now she is in foreclosure. We need a hard money, bridge loan, to get them out of foreclosure. Sale date is next month. The borrower has the capacity to repay the loan. Loan amount 450k California 00 Ltv : 69 Makes 8-9k monthly Thanks - Last Post by: adelphos on 03/29/2017 @ 5:00 PM