Over the past few months many of the subprime lenders have gone out of business with many more on the bubble. This was due to the 100% financing provided to borrowers that really didn’t qualify for the loans they were approved for.
Now many of these homeowners are in a tough spot as the 2 and [...]

Popularity: 3% [?]

Many are not aware that when you retire choosing stated income as a qualifying option may not be possible. This is because the credit report will report job status. If you are receiving a pension from a W2 job it usually indicates that you are retired on the credit report and as such underwriters are [...]

Popularity: 2% [?]

Yesterday lenders across the board announced the end of 100% stated income programs. The change was included any loans in process that have not yet locked their rates. Many borrowers currently in the process will be given the bad news and will have to adjust to 95% maximums.
This comes as no surprise. Since the beginning [...]

Popularity: 2% [?]

Recently there has been a great deal of volatility in our industry. Over the last several months, we?ve seen a number of small to mid-size companies go out of business and a few taken over through acquisition.
As a result, many lenders are pulling back in their loan to value ratios further narrowing the field [...]

Popularity: 2% [?]