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!Memphis TN purchase question (by: Ryan21)https://forum.brokeroutpost.com/loans/forum/2/338076.htmHi yall Im looking to buy a SFR in Memphis as an investment. Is there a 3 day right of cancel in TN? Also, in TN are closings done by lawyers most of the time? The earnest money deposit went to the real estate agencys name (on the check). However, the realtor is asking that the balance (all cash deal) be sent to their in house attorneys account. Apparently he is their in house attorney, but operates as his own business. Is how things typically go in TN? Thanks - Last Post by: Ryan21 on 10/23/2017 @ 9:51 PMKaiser Permanente CEO Says A Bipartisan Health Bil (by: KnowsBetter)https://forum.brokeroutpost.com/loans/forum/2/337886.htm#1806292Now that the latest GOP health care proposal is being left for dead, you might think that health care reform efforts are over for the near future. But dont dismiss bipartisan efforts already underway that aim to stabilize the insurance market and potentially give states more flexibility in meeting federal standard http://www.npr.org/sections/health-shots/2017/09/27/553836940/kaiser-permanente-ceo-says-a-bipartisan-health-bill-is-the-best-way-forward Time for the president to Lead bipartisan effort to improve the ACA, however, he can Example: allow insurance companies to sell across state lines Thur associations - Last Post by: KnowsBetter on 10/23/2017 @ 7:47 PMHidden Costs of Climate Change Running Hundreds of (by: KnowsBetter)https://forum.brokeroutpost.com/loans/forum/2/338051.htm#1806291Extreme weather, made worse by climate change, along with the health impacts of burning fossil fuels, has cost the U.S. economy at least $240 billion a year over the past ten years, a new report has found. https://news.nationalgeographic.com/2017/09/climate-change-costs-us-economy-billions-report/ wow ! - Last Post by: KnowsBetter on 10/23/2017 @ 7:40 PMThe Making of a Millionaire and a Massacre (by: KnowsBetter)https://forum.brokeroutpost.com/loans/forum/2/338001.htm#1806290https://www.msn.com/en-us/money/companies/the-making-of-a-millionaire-and-a-massacre/ar-AAttphv The story of how Cottle successfully navigated Americas gun laws to sell tens of thousands of bump stocks over the past six years says a lot about how permeable those laws are. It also sheds light on the protections federal law affords the gun industry against claims of liability when firearms are put to horrific use. Ironically, the argument Slide Fire used to get approval for its bump stocks may end up exempting it from those protections—an argument being used in the lawsuits that are already being filed by victims of the Las Vegas shooting. The sheer horror of the massacre, combined with the revelation that a simple device likely made the carnage much worse, seems to have altered the debate about gun violence, eroding Republican resistance to discussing gun control of any kind, if only temporarily. Need to ban it. - Last Post by: KnowsBetter on 10/23/2017 @ 7:39 PMFires raging out of control in california! (by: KnowsBetter)https://forum.brokeroutpost.com/loans/forum/2/337995.htm#1806289I look at the maps and pics of fires, and see then all lined up in a chain, along roadways! I think we have arsonists on the loose!This is their MO, drive along a road and toss incendiaries into the grass during wind storms! Then, a much worse fear arises in my gut; Could these fires be caused by Islamic terrorists? I dont think the MS media will ever tell us!There could be a GAG ORDER on it.There are so many ways they can harm us, I hate to even think about it! What do yall think? - Last Post by: KnowsBetter on 10/23/2017 @ 7:38 PMconstruction loans and loans to flip houses 2 scen (by: Bruno)https://forum.brokeroutpost.com/loans/forum/2/337561.htm#18062881st scenario can anyone recommend any lenders that will do a 2nd for home improvement to expand on owner occupied house? Max ltv California 2nd scenario we where ask by General B contractor to see who can get them financing so they can buy houses that are in distress, rehab them and flip it. Max ltv thanks - Last Post by: Bruno on 10/23/2017 @ 5:16 PMEthos Lending (by: ezlimitz)https://forum.brokeroutpost.com/loans/forum/2/332144.htm#1805563 After having a conversation with their sales manager at Ethos Lending they agreed that I should not have been charged a lock extension fee and have offered to refund the overcharge. - Last Post by: ezlimitz on 10/23/2017 @ 4:21 PMDeposit on statement - loan payback (by: gcapozzoli)https://forum.brokeroutpost.com/loans/forum/2/338071.htm#1806286My new buyer has a $5,000 transfer on his bank statement. It is the money that he loaned to his friend in February 2017. I have a copy of the check that he wrote to his friend in February (for $5,000) and a simple letter stating that "I, his name, am borrowing $5,000 from my friend Y to be paid back at no interest before the end of 2017". Can we accept this $5,000 transfer for a conventional or FHA purchase? - Last Post by: gcapozzoli on 10/23/2017 @ 4:19 PMRealtor needed - Nor-Cal (by: bmd)https://forum.brokeroutpost.com/loans/forum/2/338073.htm#1806285Bay area Lafayette, Moraga, Orinda.... Pre-qualified borrower. - Last Post by: bmd on 10/23/2017 @ 4:16 PMBRAWL Brokers Rallying Against Whole-tail Lending (by: bmd)https://forum.brokeroutpost.com/loans/forum/2/337964.htm#1806283First time Ive heard of this. We dont have any lenders that do this, do we? http://www.mpamag.com/news/brokers-join-to-fight-wholetail-lending-81406.aspx - Last Post by: bmd on 10/23/2017 @ 3:56 PMAny lender that will do loan in LLC? (by: HardMoneyMN)https://forum.brokeroutpost.com/loans/forum/2/338061.htm#1806282I need a refinance cash out on a duplex that was paid for all cash last April. The purchase price was $390k. Value is $750k. This is in the Los Angeles, CA area. - Last Post by: HardMoneyMN on 10/23/2017 @ 3:51 PMdu approval w high ltv (by: Luminary)https://forum.brokeroutpost.com/loans/forum/2/338074.htm#1806279Received du approval with 49.5 front dti 70ltv Anyone run high dti at higher ltvs ? Im assuming the low dti had something to do with the du approval. - Last Post by: Luminary on 10/23/2017 @ 3:20 PMnon prime or hard money (by: EastSideJ)https://forum.brokeroutpost.com/loans/forum/2/338075.htmFL - SFR 84-15% LTV 607 credit Looking to remove co-borrower (not married). Current FHA mortgage 2 late payments in June and July (all caught up however) So if there is a lender that will allow 2 late payments please let me know. I will refer to whoever can get this done - Last Post by: EastSideJ on 10/23/2017 @ 3:06 PMVA non-purchasing spouse collections (by: bmd)https://forum.brokeroutpost.com/loans/forum/2/338072.htm#1806275Non-borrowing spouse with 5k in collections (not medical). 5% of balance hit to the DTI? Is that same figure used in the residual? I assume yes to both; but, wanted to confirm. - Last Post by: bmd on 10/23/2017 @ 1:38 PMITTN LENDERS (by: bmd)https://forum.brokeroutpost.com/loans/forum/2/338068.htm#1806272Looking for a lender who can do ITTN programs in Minnesota - Last Post by: bmd on 10/23/2017 @ 1:14 PMLowest rates for bank statement program? (by: celloshred)https://forum.brokeroutpost.com/loans/forum/2/338044.htm#1806270Self employed borrower.... California - Last Post by: celloshred on 10/23/2017 @ 1:00 PMYou voted for Trump; (by: KnowsBetter)https://forum.brokeroutpost.com/loans/forum/2/337998.htm#1806265You voted for Trump because Clinton was going to be in Wall Streets pocket. Trump wants to repeal Dodd-Frank and eliminate the Fiduciary Rule, letting Wall Street return to its pre-2008 ways. You voted for Trump because of Clintons emails. The Trump administration is running its own private email server. You voted for Trump because you thought the Clinton Foundation was "pay for play." Trump has refused to wall off his businesses from his administration, and personally profits from payments from foreign governments. You voted for Trump because of Clintons role in Benghazi. Trump ordered the Yemen raid without adequate intel, and tweeted about "FAKE NEWS" while Americans died as a result of his carelessness. You voted for Trump because Clinton didnt care about "the little guy." Trumps cabinet is full of billionaires, and he took away your health insurance so he could give them a multi-million-dollar tax break. You voted for Trump because he was going to build a wall and Mexico was going to pay for it. American consumers will pay for the wall via import tariffs. You voted for Trump because Clinton was going to get us into a war. Trump has provoked our enemies, alienated our allies, and given ISIS a decades worth of recruiting material. You voted for Trump because Clinton didnt have the stamina to do the job. Trump hung up on the Australian Prime Minister during a 5pm phone call because "it was at the end of a long day and he was tired and fatigue was setting in." You voted for Trump because foreign leaders wouldnt "respect" Clinton. Foreign leaders, both friendly and hostile, are openly mocking Trump. You voted for Trump because Clinton lies and "he tells it like it is." Trump and his administration lie with a regularity and brazenness that can only be described as shocking. Lets be honest about what really happened. The reality is that you voted for Trump because you got conned. Trump is a grifter and the American people were the mark. Now that you know the score, quit insisting the con-man is on your side. <b></b> - Last Post by: KnowsBetter on 10/23/2017 @ 11:54 AMFive Star Professional (by: AlexMTG)https://forum.brokeroutpost.com/loans/forum/2/338057.htm#1806261Anyone have any experience with these guys? Im getting a call and email a week for a few months now. I havent spoken with them but it feels like a money grab. - Last Post by: AlexMTG on 10/23/2017 @ 11:11 AMVA Pricing - Possible? (by: bmd)https://forum.brokeroutpost.com/loans/forum/2/338070.htm#1806259752 FICO, 100% LTV VA, $292k purchase loan, 45 day lock. Making 2%. I am not seeing anything under 3.75% for a par rate or slight lender credit. The client is stating that she is being quoted 3.5% par... I dont see any lenders that we work with that offer this. - Last Post by: bmd on 10/23/2017 @ 10:53 AMHas anyone used Mortgage Differential Payment? (by: brown14)https://forum.brokeroutpost.com/loans/forum/2/338029.htm#1806256Has anyone ever used Mortgage Differential Payment Income as qualifying income for a Home purchase? If so, How does it work?" Thanks - Last Post by: brown14 on 10/23/2017 @ 10:46 AMPricing scebario (by: lemeuss)https://forum.brokeroutpost.com/loans/forum/2/338067.htm#1806246708 fico 290k purchase price FHA 3.5% down Single family Im at 4.25% and my comp plan is at 1.75 Just curious where everyone is at and whatconp you have at that rate - Last Post by: lemeuss on 10/23/2017 @ 09:20 AMFHA purchase while in loan Mod (by: captchaos)https://forum.brokeroutpost.com/loans/forum/2/338069.htm#1806242Cust is currently in a loan modification with their IP. The property used to be their primary home. They have ben renting for the last year and a half. Now they want to buy a primary home. Can he buy a primary home FHA if he is currently in a Loan Modification on another property? The Mod took effect 2 years ago with no lates. Thoughts? - Last Post by: captchaos on 10/23/2017 @ 09:04 AMBank Statement loans? (by: gcapozzoli)https://forum.brokeroutpost.com/loans/forum/2/338066.htm#1806237Just kidding but man these threads are popping up with much more frequency. Could be a sign of something or another. Have a great weekend !! - Last Post by: gcapozzoli on 10/23/2017 @ 06:06 AMSocial Security Disability Payee (by: gcapozzoli)https://forum.brokeroutpost.com/loans/forum/2/338064.htm#1806231Have a single father wants to buy a home. He has an adult son who is disabled (since birth) and receives 700 a month from social security. The social security is made payable to the father, he is the payee. His disabled son does not have a credit score and is unable to work, lives with the father. This 700 would help the father qualify for a mortgage. It is a small loan. Can he use this income without the need of putting his son on the loan? - Last Post by: gcapozzoli on 10/22/2017 @ 06:35 AMAnyone with experience with Sprout Mortgage? (by: AlexMTG)https://forum.brokeroutpost.com/loans/forum/2/337969.htm#1806225I have a jumbo 85% with a 673 credit score full doc. They have pretty much the best quote out of everyone and the borrower needs to get out of his current hard money loan by Feb. Had a good phone convo and the rep has been there for at least 2 years. So thats somewhat encouraging. Anyone else? - Last Post by: AlexMTG on 10/21/2017 @ 6:04 PMDoes anyone here have their realtor license also? (by: rainmand)https://forum.brokeroutpost.com/loans/forum/2/338037.htm#18062231) Can you be the mortgage broker and the buying agent on the same deal? 2) What firm would you hang your license at if you were starting now and had to start from ground zero with no referral base and why? - Last Post by: rainmand on 10/21/2017 @ 1:56 PMSigning Up With Provident? (by: KnowsBetter)https://forum.brokeroutpost.com/loans/forum/2/336671.htm#1806222Hi All, Just curious what your experience was like signing up with Provident Wholesale...Im in Northern CA and BRE licensed...anyone know what they require to get setup? Any good recommendations on an AE? - Last Post by: KnowsBetter on 10/21/2017 @ 1:28 PMFreddi Mac Multifamily (by: mainemortgageguy)https://forum.brokeroutpost.com/loans/forum/2/338063.htm#1806217Is there wholesale lenders that do the the Freddie Mac Multifamily program? - Last Post by: mainemortgageguy on 10/21/2017 @ 12:13 PMborrower wants to buy property in LLCs name? (by: quickclose)https://forum.brokeroutpost.com/loans/forum/2/338040.htm#1806208hi I have a dr. client that wants to purchase a single family home near his office 1.25 mil with up to 35% down LLC will qualify for loan (2 yrs tax returns) can be owner or non owner property is currently vacant so Malaga Bank will not do it any ideas would be greatly appreciated borrower will not pay hard money rates Thanks - Last Post by: quickclose on 10/21/2017 @ 07:14 AMtexas land deal (by: syntheticheroin)https://forum.brokeroutpost.com/loans/forum/2/338062.htm#1806206Purchasing the land for $32m Looking for 75% LTV loan on the project. Loan amount: $24m Additional Collateral: $10m property. 6 guarantors with combined net worth of $184m Yearly income of $15.4m combined. 3 of the guarantors will give a 100% guarantee. The other 3 will offer a 25% guarantee. 78 acre project already has 4 LOIs to sell off portions of land for a combined value of $19m. The cost basis on this portion of the sale alone is $9m. 2 of the contracts do not require entitlements. The other two do. The two that are working on entitlements are zoned properly and a part of the cities master plan development. Looking for a 3 year term with no prepay. Borrowers will consider hard money and institutional options. Exit value is projected at $64m. There is a ton more information a lender/investor would need on this. I know that the actual loan amount will turn most lenders off. If the loan amount is doable please let me know what additional information you would need to give me a preliminary answer. - Last Post by: syntheticheroin on 10/21/2017 @ 07:09 AM