630 FICO No Assets, Neg Am, 60% LTV

GSWNick · #1 (**permalink**) 03-23-2006, 02:34 PM

I need the lowest possible payment, but borrower does not have any assets, and is on a fixed income.

brendo927 · #2 (**permalink**) 03-23-2006, 05:11 PM

New Century Prime, ABC, MLN.....might be tough considering fixed income....

GSWNick · #3 (**permalink**) 03-24-2006, 11:09 AM

1 month PITI reserves, no VOD, possibly with their express although guidelines say 660 fico req'd. But, Downey only needs 1 month PITI (fully indexed) reserves.

apm · #4 (**permalink**) 03-24-2006, 12:36 PM

Try World Savings

Greg · #5 (**permalink**) 03-24-2006, 01:33 PM

New Century requires 2 months PITI but I think our wholesale side can do exceptions like I can so it still should be doable.

brendo927 · #6 (**permalink**) 03-24-2006, 02:08 PM

Greg is home123 hiring....I just applied to aames inside sales subprime.

COLOANHound · #7 (**permalink**) 03-24-2006, 02:55 PM

Quote:

Originally Posted by brendo927

Greg is home123 hiring....I just applied to aames inside sales subprime.

Looks like another netbranch opp., so I would say, yes, they are hiring, but then again I don't work there.

Greg · #8 (**permalink**) 03-27-2006, 06:15 PM

We are the retail division of New Century. We broker too.

I do use our internet lending office in Boca Raton to do all 50 though. I turn over the 1003 and get 30% of the total fees (front and back). I am licensed in 23 right now.

We are hiring. They look for proof of production and a track record of success. I can get 2500 for referring you so if you want more detail let me know.
We are hiring in some area's but you have to show a track record of production. They look for 5 units avg minimum per LO.