Can anyone do this loan?
Borrower: FICO: 639 Income: SIVA - W2
Co-Borrower: FICO: 616 Income: SIVA - W2
Subject Property: SFR, Nevada
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LTV: 80/100 , 100
CLTV: 20/100, 100
DTI: 35-40
FICO: 639, 616
Occupancy: NOO
NOTE: they have two properties. Want to take the monies out of this property and payoff the 2nd lien on the OO. (~$125K)
Purpose: Refi Cash Out
Property Type: SFR
Loan Type: Any LOWEST payment with CASH OUT
Doc Type: SIVA
Seasoning: since 2004
Lates: NONE
Bankruptcy: Discharged 06-2004
Foreclosure: none
Max Loan Amount: 355,000
Or could you should me the par and what all the add ons will be for NOO, SIVA, CASH OUT, you know, all the add ons, so I can show my client why the rate is soooooo high...
PS. Banks I've already tried...First Magnus, CWBC, Wells Fargo, CIT, Manadalay Bay, New Century, NovaStar, Hamilton Mortgage, US Bank, WMC, Aegis, Peoples Choice, Accreditted, Encore Credit and Master Financial... NO GO.
Was told, LIME, Franklin Bank, National Wholesale Funding, Bryco Funding, Funding America, Investaid Corp, 1st Choice, IRES, Amstar Mortgage, Axis Mortgage, Altivus Financial...DONT KNOW HOW TO GET A HOLD OF THESE PEOPLE if they can...
I KNOW JLM can not do it, FICO too low...
Some one Please respond...for guidance...I have two senarios just like this. If you have Owner occupy pricing for senario like this too! Send pricing my way...
Mahalo,
