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01-12-2006, 07:46 AM
| | Banned | | Join Date: Jan 2006 Location: usa
Posts: 249
| | | looking for subprime lender for 500 to 550 scores
i have tons of loans at 95% to 100% ltv with 500 to 550 scores. most are sisa or light doc. ny,md,nc,ca,nj, at least 40 files right now. i have tried the regulars like argent,accredited,saxxon,novastar. any suggestions? |
01-12-2006, 10:27 AM
| | Window Cubicle | | Join Date: Dec 2005
Posts: 87
| | | Try Equifirst, WMC Direct and Acoustic |
01-12-2006, 11:49 AM
|  | Window Office | | Join Date: Dec 2005 Location: Sunny So. Cal
Posts: 255
| | | Also might want to try Express Capital they might be able to do something like that.
__________________ Amanda Flores ATG, Inc. Your Mortgage Processing Solution AmandaFlores@atgprocessing.com
714-269-5798 Direct Line
714-398-8357Main Office www.atgprocessing.com |
01-19-2006, 09:18 AM
| | Window Cubicle | | Join Date: Dec 2005
Posts: 87
| | | Subprime lenders
Aames, Chapel, Fieldstone, Meritage, Accredited, Acoustic, Equifirst, Pemmtek, People's Choice, Sunset.
I have used all of these before. |
01-20-2006, 11:33 AM
|  | Window Cubicle | | Join Date: Dec 2005 Location: sd
Posts: 71
| | | Try US Bank they can go to 100% at 500
Try Delta also
Most of the lenders listed above cant go past 90.
Midas I will show you the money. |
01-21-2006, 01:12 PM
|  | Super Moderator | | Join Date: Dec 2005 Location: Chillicothe, Ohio
Posts: 2,153
| | | Macp does US Bank have prime and sub-prime seperately?
__________________ Greg Phillips Manager Fairfield Mortgage Company Web : Home Forums Blog |
01-21-2006, 06:22 PM
| | Newbie at a desk in the hall | | Join Date: Dec 2005 Location: New York City
Posts: 8
| | | First of all I would rescore. Only those people who have a few lates, &/or delinquencies. You can usually tell when look at the credit and you can see on time payments but then you abrupt interruptions in payment. Then I would go to longbeach, BNC, Delta etc. Then you need to give them counselling. Work on paying off bad debt, reducing credit balances, stay in touch with them and hopefully you can refinance them at a better rate in one year. |
01-22-2006, 09:52 AM
| | Banned | | Join Date: Jan 2006 Location: usa
Posts: 249
| | | macp, thanks. all the others are really for 575 and up now. you cant rescore everyone and magically have a 620, we do mortgage profile enhancement and everything possible within the time constraints to bump the scores. these are what they are and just need a more flexible lender then the usuals. otherwise ill just recomend long term counciling and credit repair and wait 6 months or so but people like this usually need the money now in order to survive. |
01-23-2006, 05:46 PM
|  | CRA Services LLC | | Join Date: Dec 2005 Location: Sunny San Diego
Posts: 1,078
| | | Midas,
I have a client that might need your help. Send me your e-mail and I will patch you to a few of my customers.
Thanks,
Carlo |
01-24-2006, 08:52 AM
| | Private Office | | Join Date: Dec 2005 Location: Lansing, MI
Posts: 158
| | | Midas,
You are correct, most lenders listed in thread require a 580 score for 100% LTV's. Some will go as low as 575. I truly do not believe you will find someone who will do a 500 score at 100%.
However there are lenders that will do a CLTV (80/20) to 100% financing. Try MILA for starters.
Also alot of lenders will allow up to 85 - 90% with a 500 score and a CLTV of 100% if you can find a private investor to hold the second.
Of course in these instances almost every deal is on a case by case basis. If I can be of any more help just e-mail me.
Good Luck | 
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