REFI NOO Penna

[hammertime]

Ben, hook us up man.  I would hate to think that you were just stringing us along.

Patrick, I checked Aegis site and it would not allow those parameters.

[mnkrouse]

BEN.........HELLO, HELLO, HELLO?

There are quite a few of us that are waiting for your response of great wisdom.

I have been looking for a lender that can do 100% LTV, N/O/O, 4 unit, Stated, Cash out.  640 mid

[JBJR]

Ben:

You can do this?

[hammertime]

One must assume, and I hate to do that and I hope that I am wrong, that Ben was just trying to mislead fellow posters into believing that he could do something that he cannot.

I would like to see him defend himself.  However, he has been on and off line all day and has not responded yet.

We would all love to have the info that he says he has. C'mon Ben Hook us up!!!

[hammertime]

I know that sometimes rate and program cards are hard to read.  I guess that Ben must have misread his.  He has responded to several other posts on this site since he made his statement, but, not to this one.

I thought that he would have at least been professional enough to admit error or back up his statement.    :-[

[mnkrouse]

Christopher/Jack,

Did Ben ever contact you with the Lender?  I don't know what happened to him.  I am hoping that Hammertime is incorrect.

One must assume, and I hate to do that and I hope that I am wrong, that Ben was just trying to mislead fellow posters into believing that he could do something that he cannot.

I see that Ben has responded to several other posts over the weekend.  I just thought that maybe he responded to your inquiry.

[Mdhaas]

Did any of you ever get a response?

[JBJR]

Hey folks, thanks for all the imput.  I am still shopping this thing, hardest thing I ever did actually.

I got a response, he wants me to wait until February because if boderline credit scores.  I thought any underwriter worth his salt would take into consideration that the score would be affected by shopping the mortgage around?  I read that on this forum.  Am I correct or not?  

[Investment Loans]

Alright boys, ya want a response.  Here it is, but your gonna need to spend time with you AEs to check their programs.  

Jack,

First, you only sent me page 1 of a credit report.  Couple things you need to know.  Most of the programs used for investors require a certain amount of tradelines.  Not only is there a number they are looking for but also how long these have been open.

Second, the report was from Dec.  The lenders pull their own credit when they receive the file.  So even if you sent me a report now with x score from Dec; the score could change the begining of February when creditors send in their tapes to the big 3.  They will use those scores to determine if you fit within their parameter.

Here's a great link for information about credit scores.
http://money.cnn.com/2005/03/16/pf/debt/creditscore/

Taken from the report
Myth: Shopping around for a loan hurts your score. When you apply for a loan or get pre-approved the creditor checks your credit report, which shows up as an inquiry to your credit. While it's true that too many inquiries to your credit will lower your score, you absolutely can shop around for a mortgage, home equity loan or car loan without worrying about damaging your credit, said Sjoblad. "As long as the same kind of inquiries are made within 14 days of each other, they count as one inquiry on your credit score," he said. Take note: This grace period doesn't apply to credit cards.

It's possible to pull you credit now to see if you have the required tradelines and shouldnt hurt to pull again the first full week of February.

I figured it would be best for you to make an educated decision since it is your credit.

[hammertime]

Ben, glad to see your back.  I am a little confused though. ???

I am not sure what your most recent post on this thread had to do with the question(s) that were asked of you.

Your sure, Stated income? 100% LTV, N/O/O, Cash out.  640 mid ,2-4 unit?


If so you may have found the Holy Grail!!

[Jon]

Definitely can do 100% refi's with stated income and credit as low as a 620.  It's not with Aegis, either.  Absolutely no credit score exceptions - must be a 620 or better.  But yes, I can do them.

[ShaunG]

On a 3-unit investment, stated, 620 mid?  Ok, enlighten us please?  I don't see why you all claim you can get these done, but you won't tell other brokers who are questioning your knowledge?  This thread just keeps getting better.   :

[hammertime]

I agree with you Shaun!  If these are truly National companies...like Ben keeps claiming...why can't someone just quit BS ing and spit it out! 8)

[Jon]

Lancaster Mortgage.  They do business in something like 40 states or so.  

[hammertime]

Jon, does this Lancaster mortgage have a website or contact #?  Any info would be appreciated.