Pissed off I got robbed

[brendo927]

heres the scenario. 85% loan 233750 full doc 657 32k assets 0-24 clean mortgage. 42% DTI. I got robbed by a broker told them 3k up from in fees 6.375 30 year fixed rate. no pre-pay. Is this possible? Any brokers out there can do this or what. My ****in programs are killin me as a lender.


What are your quotes you brokers? You think its a pay-option arm or is the rate too high?

[Erik]

Sounds like a deal that may have gotten an approval through DU...

[Greg]

Your what programs? Heck yes Fannie Mae. YSP included too.

[brendo927]

Just an update with our company that makes me feel a little more secure and excited. I guess we will be selling A paper as well in 30 days giving all you A paper lenders a run for your money finally. No more 6.3 700 fico wit 5 points. Now all I have to sell is 1. . Also our commision plan will change jan 1st which is also a bonus for us. volume + units vs. revenue which sucks and we are gettin our asses handed to us by everyone.

[Greg]

Wow that loan sounds like Ameriquest you talk about.

Maybe 2.5 points lower than them lol.. They have been cut down by the attorney general though. I do not know where their retail is at anymore.

Well, they better run fast. I cannot wait to see the closing numbers for this year nationwide.

[brendo927]

Remember I live in RI . No high cost yet....Providence by itself is going to have high cost laws as of Jan 1st.

[brendo927]

I hate it trust me. I used to love to sell A paper. Hopefully I can sell normal shit real soon.

[Mflannery5]

Hi. Sorry you're having a hard time with brokers. Based upon the info above, WPI can lend on this loan and get you the rate youre looking for. I'm an account exec and would be willing to assist you.

Mike Flannery
WPI
mikef@thewpi.com
860-761-8647

[brendo927]

too late...I posted this Nov 1st. And I work for a lender so I can't do business with you anyway.