rono
Member
Registered: 01/01/07
Posts: 36
Loc: U.S.
Not sure. Never heard the term. It may be a program that Wells has that pulls income for a particular job type from a pay rate database.
_________________________
Ron is a mortgage Loan Officer specializing in FHA and USDA loans but in 2008 due to all the owner financed notes on the market, began a new company that buys private mortgage notes. His note buying site is http://www.sell-my-note.biz
Jeff Adams
Member
Registered: 12/08/05
Posts: 380
Loc: Monterey CA
Spencer, I think I've heard that term used before. I think it means that the borrower qualifies according to the computer program, but it MUST be approved by an underwriter. In other words, they are not TRULY approved for the loan, just likely to be approved.
rono
Member
Registered: 01/01/07
Posts: 36
Loc: U.S.
I heard CW's Fast and Easy is no more. Any truth?
_________________________
Ron is a mortgage Loan Officer specializing in FHA and USDA loans but in 2008 due to all the owner financed notes on the market, began a new company that buys private mortgage notes. His note buying site is http://www.sell-my-note.biz
Fast and easy is available still and to 95% Just avoid cw they have different underwriting standards than the rest of the world. Their pmi is higher than anyone else. It's their new profit center. go to a broker thats has a variety of lenders and compare price and program with cw. Cw cant close a door now and they are jackin pmi like they used to do subprime rates.
This Google Custom search may do a better job of searching the forums for some keywords than the old forum search does. The results do not include threads from the Asset Managers Forum however. To search that forum you will need to be actually in the Asset Managers Forum and you will need to use the old forum search below.
Previous Topic
Index
