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!Delayed financing & DU (by: SuperCoop)https://forum.brokeroutpost.com/loans/forum/2/337181.htm#1799094Where in DU do you indicate that the loan is not cash-out, but delayed financing? I am getting an ineligible because the amount of cash exceeds 2%. Our entire $400k+ loan is cash. $710k was purchase price, all cash. - Last Post by: SuperCoop on 06/29/2017 @ 08:42 AMTrump: Healthcare Bill Mean (by: SuperCoop)https://forum.brokeroutpost.com/loans/forum/2/337056.htm#1799093"President Donald Trump told Republican senators Tuesday that the House-passed health care bill he helped revive is "mean" and urged them to craft a version that is "more generous," http://www.fox19.com/story/35656257/ap-sources-trump-tells-senators-house-health-bill-mean?m_content=buffer98edb&utm_medium=social&utm_source=facebook.com&utm_campaign=buffer KB, at some point even you have to to say enough is enough. - Last Post by: SuperCoop on 06/29/2017 @ 08:41 AMUST States - Licensing requirements? (by: Brianquigley)https://forum.brokeroutpost.com/loans/forum/2/337160.htm#1799090I just read only 3 States which havent adopted UST. When I took the California test a few months ago, it was a UST test. Does that mean I can also originate in the 47 States which have adopted UST, without further licensing? (assuming my Broker is also enabled to originate in that State) - Last Post by: Brianquigley on 06/29/2017 @ 06:15 AMCan we use this income? (by: Mandyvilla)https://forum.brokeroutpost.com/loans/forum/2/337177.htm#1799089I have a realtor who owns a realty/rehab company that he opened (an LLC) in 9/2015. He showed income on schedule C in 2015 and incorporated and showed income on schedule E in 2016. Is it okay to use a 2-year average tax return income to qualify him or does he have to close after 9/2015 to document 2 years of self-employment? - Last Post by: Mandyvilla on 06/29/2017 @ 05:47 AMCommercial loan 38% LTV with drive by appraisal on (by: syntheticheroin)https://forum.brokeroutpost.com/loans/forum/2/337163.htm#1799088Hello everyone, We have a comercial deal that we dont have access to the inside of the building because the tenant is on vacation for the next 90 days so we need someone that will do it with only a drive by appraisal CA $275,000 Loan $725,000 Appraisal Mid Fico 646 Cash out dti 16% assets : over 500k Thanks - Last Post by: syntheticheroin on 06/29/2017 @ 12:58 AMPrivate/Hard Money (by: Gillee Sherman)https://forum.brokeroutpost.com/loans/forum/2/337099.htm#1799087I have used Denis Rediger out of Burbank for my hard/private money deals and I find him to be the best hard money lender I have ever worked with. Terms are very fair, points are low, and he funds incredibly quick. Non-owner only!! I have over 30 years of experience in the business and I just like the way he works, no BS! Denis 818-842-8707. denisrediger@icloud.com - Last Post by: Gillee Sherman on 06/28/2017 @ 11:59 PMHey Lender X!!! (by: Bill.rich)https://forum.brokeroutpost.com/loans/forum/2/337174.htm#1799085I have a question for you, if you have a moment? Thanks in advance..... - Last Post by: Bill.rich on 06/28/2017 @ 10:03 PMBorrower Loves Chase (by: Bill.rich)https://forum.brokeroutpost.com/loans/forum/2/337147.htm#1799084I had to beat the Chase rate by 0.25% (rate not cost) with similar costs for them to go with me due to their love of Chase. Well, I did it. But, I am annoyed for some reason I had to jump through such a hoop to get them away from Chase. - Last Post by: Bill.rich on 06/28/2017 @ 10:01 PMWhat if you realized you were being propagandized? (by: KnowsBetter)https://forum.brokeroutpost.com/loans/forum/2/337021.htm#1799083Would you also re-evaluate your world view? https://www.youtube.com/watch?v=aI2AIu9oBJg&list=TLGGnGBILSADGYAxMDA2MjAxNw&index=2 - Last Post by: KnowsBetter on 06/28/2017 @ 9:27 PMPrice Check, Aisle 1 (by: waynepbright)https://forum.brokeroutpost.com/loans/forum/2/337176.htm#1799082$330K loan amount 80 LTV Cash out refinance 15 year fixed 750 FICO - Last Post by: waynepbright on 06/28/2017 @ 9:07 PMByte or Calyx? (by: KnowsBetter)https://forum.brokeroutpost.com/loans/forum/2/337180.htm#1799080Whos used both and which one do you like better? - Last Post by: KnowsBetter on 06/28/2017 @ 8:01 PMReverse Mortgage openers (by: KnowsBetter)https://forum.brokeroutpost.com/loans/forum/2/337124.htm#1799077Anyone know any good two line openers for Reverse via the phone? Must be attention grabbing! Seniors are very sales resistant, and as soon as you mention Reverse Mortgage they hang up! Is the market oversaturated? - Last Post by: KnowsBetter on 06/28/2017 @ 7:16 PMDifference between a Second Home and Investment? (by: peeper)https://forum.brokeroutpost.com/loans/forum/2/337173.htm#1799075I have a guy who lives and works in NYC. He wants to buy a home in the Catskills for weekend getaways from the urban jungle. He plans on also listing the house on AirBnB for rental income but not all the time, just here and there when he isnt using it himself. Is there a distinct line between Second Homes and Investment Properties? How do we know which way to classify it? Thanks - Last Post by: peeper on 06/28/2017 @ 7:06 PMCuba (by: velecico)https://forum.brokeroutpost.com/loans/forum/2/337087.htm#1799068Who is Trump trying to help? https://www.cato.org/blog/who-trump-trying-help-cuba - Last Post by: velecico on 06/28/2017 @ 5:10 PMIncome Calc Opinion and Exercise (by: DAN-PathwaysFinancial)https://forum.brokeroutpost.com/loans/forum/2/337179.htm#1799065Hourly but not a full 80 every 2 weeks. Think its around 71 and gets some OT (bc has another secondary job). Per the VOE dated through 06/23: 23.84 hourly Base OT OTHER TOTAL YTD 19965 2566 1062 23,594 2016 42796 7613 921 51,330 2015 44019 12003 4088 60,111 2016 OT declined due to extra hrs/work w/ other secondary job. Since not F/t 80 hrs; are you taking the 2016 lowest year and dividing by 12 mos to use as the "effective income"? How are you looking at this income? - Last Post by: DAN-PathwaysFinancial on 06/28/2017 @ 4:43 PMNew Home (by: gcapozzoli)https://forum.brokeroutpost.com/loans/forum/2/337153.htm#1799064Clients were given a lot as a gift from the parents in March, 2017. A Modular home dealer will build the modular home (NOT A DOUBLE WIDE) on the land and will be paid when home is complete. NO CONSTRUCTION LOAN. Trying to finance as R/T refinance. Home is $150,000, Land is worth $25,000. Underwriter stating you can not use land equity unless you own land 6 month prior to assignment of FHA case number. I can not find this in the 1000 page 4000.1 guidelines. Anyone know where I may find information pertaining to this scenario. I believe as a gift of land the equity is available immediately. Thanks - Last Post by: gcapozzoli on 06/28/2017 @ 4:37 PMVa cash out reserves question (by: DAN-PathwaysFinancial)https://forum.brokeroutpost.com/loans/forum/2/337137.htm#1799063I am running into an issue finishing up a VA cash out in California. Paying off all debt and giving additional cash in hand. Problem I am running into is the fact that they have 2 investment properties. Va requires 3 months piti for each property. Wife had a stroke last year and husband took a year off and drained 401k to be at home and take care of his wife. The basically have no assets. Cant see a way around it. Any suggestions? - Last Post by: DAN-PathwaysFinancial on 06/28/2017 @ 4:31 PMBest sub 620 FHA Lender? (by: velecico)https://forum.brokeroutpost.com/loans/forum/2/337107.htm#1799061I am looking for a wholesale lender (not named Carrington)to send a couple 4 or 5 loans a year to. FHA 600-619 Approve Eligibles. Need to have no overlays. Any suggestions? - Last Post by: velecico on 06/28/2017 @ 4:18 PMNYCB Mortgage Business to be Acquired by Freedom (by: velecico)https://forum.brokeroutpost.com/loans/forum/2/337157.htm#1799058 For All Clients and Closing Agents Today, New York Community Bancorp, Inc. announced that it has entered into an agreement to sell its mortgage banking business to residential mortgage industry leader, Freedom Mortgage Corporation (“Freedom). Freedom will acquire both our origination and servicing platforms, as well as our mortgage servicing rights portfolio. The transaction is expected to close during the third quarter of this year. For additional information about this announcement, please see the press release. How does this acquisition affect any new or existing pipeline of business with NYCB? This announcement has no immediate effect on any business you are conducting with NYCB. Our technology platform and support teams are fully available to support your needs. As additional information related to the acquisition becomes available, it will be shared to ensure you and your borrowers have a seamless experience. - Last Post by: velecico on 06/28/2017 @ 4:11 PMSBA lender for $1.5m Staten Island Purchase (by: velecico)https://forum.brokeroutpost.com/loans/forum/2/337158.htm#1799056Anyone have a good SBA lender to place this deal? - Last Post by: velecico on 06/28/2017 @ 4:06 PMConstruction loans (by: velecico)https://forum.brokeroutpost.com/loans/forum/2/337172.htm#1799055Hello Anyone know of any loan programs/lenders that offer any kind of income doc programs? bank statement programs? Stated?, asset depletion?? I get borrowers that are rock solid but are s/e..any suggestions//lender info..? Would be greatly appreciated. Good day. Thank you.. - Last Post by: velecico on 06/28/2017 @ 4:01 PMhard money Quick turn time (by: williamloans)https://forum.brokeroutpost.com/loans/forum/2/337178.htmI need a hard money lender for NC that can close very quickly. Please email davidchristopher123@yahoo.com. Thank you. - Last Post by: williamloans on 06/28/2017 @ 3:07 PMSetting LO comp...flat fee legal? (by: KnowsBetter)https://forum.brokeroutpost.com/loans/forum/2/337151.htm#1799036Is it legal for a broker to keep a flat fee...say $495 and payout the rest to the MLO? Or must the broker payout a fixed percentage instead? - Last Post by: KnowsBetter on 06/28/2017 @ 1:29 PMR & T Refi? (by: lemeuss)https://forum.brokeroutpost.com/loans/forum/2/337171.htm#1799028If a client has a non-purchasing HELOC from 6 years ago and has not had any draws against it in the past 24 months, just paying it down, is it considered a R&T refinance or a cash out refinance? Investment property. I thought R & T but AE thinks its a cash out. Thanks. - Last Post by: lemeuss on 06/28/2017 @ 12:51 PMHow Socialism Ruined My Country (by: KnowsBetter)https://forum.brokeroutpost.com/loans/forum/2/337094.htm#1799024An excellent video from Prager University. https://www.youtube.com/watch?v=bKhR9i5CGkA - Last Post by: KnowsBetter on 06/28/2017 @ 12:35 PMI Need Lender For Purchase Money 2nd for 80/10/10 (by: DAN-PathwaysFinancial)https://forum.brokeroutpost.com/loans/forum/2/337175.htm#1799023Hello, I have a purchase loan and exploring doing it as 80/10/10. Are there any lenders that will do the 2nd? Scenario: CA (orange county), purchase, sales price $730k, 1st mortgage $584k, 2nd $73k, fico 796, condo, owner occ, primary residence, with impounds. If I go jumbo, pricing was in the mid 5%s. If I lower loan loan amount to go high balance for better pricing she has to come up with another $20k which she doesnt want to do. So is wanting an 80/10/10. Thanks - Last Post by: DAN-PathwaysFinancial on 06/28/2017 @ 12:30 PMLiberal lunacy (by: KnowsBetter)https://forum.brokeroutpost.com/loans/forum/2/337007.htm#1799019I could go on and on. And I will. (A picture is worth a thousand words.) http://tinyurl.com/ydeca5ub http://tinyurl.com/y8hnfxs4 http://tinyurl.com/ydxfws7w - Last Post by: KnowsBetter on 06/28/2017 @ 12:22 PMMax back end you have seen a GUS approval at? (by: KnowsBetter)https://forum.brokeroutpost.com/loans/forum/2/337152.htm#1799008Lets hear it. - Last Post by: KnowsBetter on 06/28/2017 @ 10:48 AMBest wholesaler for FHA/VA 1 x close c/p? (by: DAN-PathwaysFinancial)https://forum.brokeroutpost.com/loans/forum/2/337136.htm#1799000FGMC? - Last Post by: DAN-PathwaysFinancial on 06/28/2017 @ 10:04 AMLos Angeles - C4 - Mixed use? (by: celloshred)https://forum.brokeroutpost.com/loans/forum/2/337165.htm#1798998 Its a 1-unit property, split in half pretty much. One side is commercial (artist space), the other is residential. Listing agent said she "talked to some lenders, and they can do 25% down with residential rates if borrower is occupying the residential side". I dont know man. Thoughts? - Last Post by: celloshred on 06/28/2017 @ 09:33 AM