no doc lender needed asap

sallytxs · #1 (**permalink**) 10-17-2006, 02:10 PM

Have a borrower in Minnesota with the following scenario:

NO Doc, Cash Out Re-FI
Mid FICO 688
Appraised value 258,800
90% LTV
Owner Occupied
One by 30 day rolling late.

Aurora just declined, they count each month as a late even if it is rolling, so need a lender that considers consecutive months lates as one rolling.....

thanks

mknight · #2 (**permalink**) 10-17-2006, 05:21 PM

We could do this one, consider it a rolling late, but it would be stated. We just want to verbally verify employment, no docs really needed.

brendo927 · #3 (**permalink**) 10-18-2006, 05:28 PM

no-doc or no-ratio? If so why?

dmor5611 · #4 (**permalink**) 10-18-2006, 05:34 PM

try option one, fnba, chase , homcomings

Greg · #5 (**permalink**) 10-18-2006, 05:52 PM

Fremont is a good one. Tey him out. They do some nice stuff and have competitive rates.

Jake, how long have you worked for them so far?

mknight · #6 (**permalink**) 10-20-2006, 01:49 PM

Almost 3 years here at Fremont. I was with Wells Fargo A Paper right before that.