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!Pences First Day as President? (by: KnowsBetter) 1/20/2021? - Last Post by: KnowsBetter on 02/23/2017 @ 9:54 PMI am getting paid... (by: fmonte555) the nightmare is over, I am finally getting paid. Thank you to all. - Last Post by: fmonte555 on 02/23/2017 @ 9:27 PMNon-occupant co-borrower (by: thefinanceguy) out Refinance Jumbo w/ non occupant co-borrower. (Co-borrower is the Uncle) LTV 75% Loan Amount $765,000 CA property (Santa Clara County) Any Lenders that can touch non-occupant co-borrower cash out? - Last Post by: thefinanceguy on 02/23/2017 @ 9:12 PMHow many states are you licensed in? (by: waynepbright) on approval for state #11. Curious if other non-fed chartered loan officers are licensed in multiple states, or do you stick to your local market place? - Last Post by: waynepbright on 02/23/2017 @ 8:35 PMAppraisal cancelled...invoiced for partial work? (by: bmd) All, company ordered a VA appraisal on a property and the buyer cancelled the transaction after getting an offer accepted on a better property. Company then put in an appraisal cancellation and VA notified that the appraisal is cancelled. The appraiser didnt conduct an appraisal or visit the property but sent a $200 invoice for partial work...pulling comps was mentioned. Anyone ever get an invoice like this? Is the appraiser due this amount? - Last Post by: bmd on 02/23/2017 @ 8:19 PMhard money 90%ltv (by: balkins78) money loan 90% ltv - Last Post by: balkins78 on 02/23/2017 @ 7:01 PMSimultaneous 2nd mortgage 75/15 (by: mbajay) Broward County 90% ltv need to know who does this, out of the loop doing this for a friend - Last Post by: mbajay on 02/23/2017 @ 6:45 PMsteve kipp.... anybody knows about him? (by: frojas) to work at lenders direct and master financial - Last Post by: frojas on 02/23/2017 @ 6:21 PMconventional 95% ltv? (by: bmd) me guidelines - Last Post by: bmd on 02/23/2017 @ 5:35 PMSelling Agent and LO Buyer Follow Up (by: lemeuss) agent refers buyer to you. Youve worked a deal or two in the past with this agent, so there is some built up trust. You gather docs, run everything and issue a pre-approval. From there; how is your follow up process handled? Are you checking in with buyer to see how it is going? Are you checking in with agent to see how it is going? Are you just hands off and wait until agent has them in contract? Do both you and agent tag team and follow up with buyer? Just kind of curious. - Last Post by: lemeuss on 02/23/2017 @ 4:16 PMAll lenders require HEROs to be paid off now? (by: DelMar_Loans); some lenders did not (including EAS), but I believe that has changed right? - Last Post by: DelMar_Loans on 02/23/2017 @ 4:14 PMrealtor says 1099 less than 2 years is ok (by: lemeuss) have a realtor that called because an FHA purchase closing of hers fell apart a few days before closing. The buyer has been on his job since September 2015. He is 1099. Prior to September 2015 he was a W2 employee in a completely unrelated field. The reason I was given for the deal falling apart was vague. She said something about what the employer listed on the VOE. I told her how did the loan ever get this far in the first place? You cant qualify someone who is less than two years self-employed. The application never should have taken in the first place. She said the other broker says less than 2 years of self employed is ok with FHA because they were using future income as listed on the buyers employment contract. <b>Is this true? I thought FHA required any applicant that was SE to have at least two years history.</b> I thought an exception for 1 to 2 years is only granted if the applicant was in the same line of work. This buyer was not in the same line of work previously. The buyer doesnt have the qualifications (credit score, DTI, down payent) to go with any program other than FHA. - Last Post by: lemeuss on 02/23/2017 @ 4:12 PMFreddie changing 1 yr tax return rule (by: scottee10) just received this from my Sierra Pacific AE. FYI Freddie is changing its criteria around for requiring only 1 yr taxes. As of 3/6 the business will need to be in existence &gt;5 years to be able to use only 1 yr of tax returns. If &lt; 5 years, 2 years of tax returns will be required as of 3/6/17. - Last Post by: scottee10 on 02/23/2017 @ 3:08 PMAny Wholesale Lenders still offering Piggybacks? (by: lemeuss) assistance is appreciated! Thanks, Jason - Last Post by: lemeuss on 02/23/2017 @ 2:48 PM95% LTV Jumbo (by: wadeger) loan amount, california, rate & term...great credit scores....i know im begging on this one, but you never know.....Thank you. - Last Post by: wadeger on 02/23/2017 @ 2:48 PMITIN LOANS (by: Brianquigley) good recommendations on a good ITIN lender? - Last Post by: Brianquigley on 02/23/2017 @ 1:36 PMVAIRRR (by: RMbanker) anyone know of a wholesaler that does not have a cost recapture period on an VA IRRR? - Last Post by: RMbanker on 02/23/2017 @ 1:20 PMhey Ryan (by: rainmand) see youre starting to post again ... are you okay now? Did they figure out what was wrong with the muscles? - Last Post by: rainmand on 02/23/2017 @ 1:20 (by: Broker G) providing the backup site, is everyone back here & championed on BO once again until/if theres another meltdown? anything still out of ordinary back here on BO ? - Last Post by: Broker G on 02/23/2017 @ 1:05 PMcompliance question (by: williamloans) and thank you for your time. I have a mortgage website(huh?)and I get leads in states I cant originate in...about 49 of them :) From a compliance point of view: Bc I only get 4-7 leads a day, I cant sell in bulk which I believe would be in the way of "compliant". And I dont want to sell each one for the same price..which I also believe would be in the way of compliant...? So, my question is, how can I sell/monetize these leads and still stay compliant? Can I sell them one by one(?), each one at the same(?) price, which wouldnt be ideal (larger loan amounts, higher credit scores, so forth..) OR Can I sell them one by one by way of a bidding the lead criteria(purpose, loan amount, property type, occupancy, credit report criteria, employment type, applicant desired/anticipated income doc program, liquid assets)one by one to a predetermined group of MLOs that I know by way of networking and sell to the highest bidder? Any and all suggestions would be greatly appreciated. Thank you!! - Last Post by: williamloans on 02/23/2017 @ 12:33 PMHard Money Loan Brokering? (by: balkins78) with me, to the rules but not to the game). Hi Friends, Trying to gain more education regarding Hard Money loans. My question revolves around how many points you can charge to do a Hard Money Loan. QUESTION(S): 1. Does the 1pt up front and 1pt backside rule apply to "HARD MONEY" loans too? 2. Do any rules (hard money or not) apply for non-owner occupied? 3. How do Hard Money loans on residential OO vary from institutional loans (in points you can charge)? Anyway, appreciate any constructive input you can give...and Thanks in advance! ~T (fla) - Last Post by: balkins78 on 02/23/2017 @ 12:27 PMA Clean Write Down From the GSEs ?? (by: syntheticheroin) that even possible? Sounds like a contradiction of sorts, like non-toxic nuclear waste or something. Kid friendly alligators must be next. "Flex Modification" I am guessing that will not get a lot of press. Speculating wildly. I wonder if anybody has come out the other side of one of these with anything other than extremely serious anger issues? - Last Post by: syntheticheroin on 02/23/2017 @ 12:17 PMBluestream Lending? (by: bmd) - I just started getting their rates emailed to me randomly. Their Jumbos look equal to big bank jumbo rates - anyone have any experience with them? Or does anyone have any jumbo lenders they like to use and be competitive? Or is that ship still out to sea? - Last Post by: bmd on 02/23/2017 @ 12:06 PMLegal advertising? (by: PouyanB) like a violation to me.......What would you guys do? But it is a pretty sweet product though, know any wholesale lenders offering it lol [url][/url] - Last Post by: PouyanB on 02/23/2017 @ 11:41 AMFHA re-fi - Need water test with well? (by: 1stintegritymortgage) I miss something? Do we now need a water test on an FHA re-fi? Full appraisal re-fi, and Stearns is telling me we need a water test because it has a well. Is this true? - Last Post by: 1stintegritymortgage on 02/23/2017 @ 11:09 AMmy buyers agent is requesting (by: nashloans66) i think she intends on shopping me cus borrowers have a 604 score and i already have them pre-approved and theyre in contract already, appraisal is tomorrow but agent doesnt like the 4.75 rate i have them at fha 30 year fixed 604 score :/ - Last Post by: nashloans66 on 02/23/2017 @ 10:54 AMHow much difference a BUCK makes (by: lemeuss) a buyer w/ a 614 fico. Ran a simulation and if the buyer changes the balance on a Macys credit account from $0 to $1; the score jumps to 628. LOL Does Macys sell gum? - Last Post by: lemeuss on 02/23/2017 @ 10:51 AMAnyone doing Multi-State Loans (by: balkins78) Friends, With the national NMLS requirement (my state is 20hrs of school) and 2 hr state test to get your lic. ...Is there anyone doing loans on a national or MULTI state Level? THanks - Last Post by: balkins78 on 02/23/2017 @ 10:42 AMUSDA Purchase (by: raymondb) anyone know if there is a retail bank that focuses on USDA purchase from a national level? - Last Post by: raymondb on 02/23/2017 @ 10:07 AMWells Fargo fires managers, denies bonuses in fake (by: BMill) late and a dollar short, what a bunch of fkt wits... The board and management are each conducting reviews into how the practice proliferated, vowing to hold managers accountable as needed after the company fired 5,300 mostly low-level employees for their roles in recent years. - Last Post by: BMill on 02/23/2017 @ 10:01 AM