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Mortgage Broker Forums at Broker Outpost



Broker Outpost makes finding a qualifying loan program more efficient for mortgage brokers, and offers wholesale lenders an opportunity to market their unique loan programs. Loan search and support forums require registration, its free!



 



Huge Lender List-Check it Out!! (by: clarenceworley)
This list has been updated as of 12/3/07. If you are a LENDER and would like to be added to this list, please send me an email with your contact information EXACTLY as the example below: First Priority Mortgage LLC/Subprime (Billy Carroll) 1-228-396-9206 www.billyjcarroll.net If you would like to bookmark this page for future reference - add this link to your favorites. Shoot me an email if you need more info. IMPORTANT: DO NOT POST INFORMATION TO MY THREAD WITHOUT VERIFYING IT FIRST! [:(!] 1st Choice Equity Funding, Hard $$ (Dennis Parker) 1-818-338-7813 www.1stcef.com 1st. National Bank of Arizona 1-888-419-5574 www.fnbavenue.com 21st. Century Mortgage 1-800-955-0021 www.21stmortgage.com Accubanc Mortgage Corporation 1-800-523-8654 www.nationalcitymortgage.com Advantage Capital/Hard Money (Lee Greer) 1-805-256-6042 www.adcapequity.com Agricultural Mortgage Company 1-877-548-2622 www.cgb-afs.com American Sterling Bank (Charles Edington), 702-991-2209, www.americansterlingbank.com American Mortgage Network 1-888-373-3974 www.amnetmortgage.com Amresco Commercial Finance 1-208-333-2000 www.amresco.com Approved Financial Corporation/Hard equity for FL only (Jamie Steinberg) 1-954-349-7385 www.approvedfinancial.com Aurora Loan Services 1-800-221-1815 www.alservices.com Aurora Mortgage LLC (Luis Belevan) 1-703-867-0397 www.wholesale.auroramtg.com BB&T Alternative Mortgage Lending/Sub-prime (Kelly Smith) 1-888-761-8333 www.bbandt.com BankUnited FSB/A Paper & Portfolio (Barbara Brinck) 1-262-893-0464 www.bankunited.com/wholesalelending.asp BayRock Mortgage Corp. 1-678-802-5500 www.bayrock.com/brokers.asp Chase Wholesale Lending 1-800-898-5458 www.chaseb2b.com/content/portal/body/wholesale.lp.WholesaleLandingPage.do Chevy Chase Bank (Justin K. Good) 1-866-639-9699 www.chevychasewholesale.com Chevy Chase Bank (Lorie L. Larsen) 1-866-639-9695 www.chevychasewholesale.com CitiMortgage, Inc. 1-800-753-7007 www.citibank.com/citimortgage/wholesale Coastal Funding Group 1-336-545-5565 www.coastalfunding.biz Community First Bank Loan Services/Conforming/ALT-A/Subprime/Stand Alone 2nds/125%s/ 412-292-8511 (George Babish), www.cfbloanservices.com Countrywide Bank - Prime & Subprime (Neil Surgenor) 1-631-275-2425 www.cwbc.com or neil_surgenor@countrywide.com Creative Mortgage Lending/Subprime (Kevin Lamb) 1-904-226-1049 www.cmldirect.com Delta Funding Corporation 1-800-225-5335 www.clickandclose.com/broker/index.html Dollar Mortgage Corporation 1-800-362-4224 www.dmccapital.com Downey Savings & Loan (Bob Curry) 1-949-854-3100 www.downeywholesale.com Eagle Funding 1-800-863-3863 www.eaglefunding.com Eastern Savings Bank 1-800-787-2265 www.easternsavingsbank.com Emerald Bay Credit Corporation/Alt-C – Hard Money (Nick Owens) 1-818-644-0435 www.emeraldbaycredit.com Encore Credit Corporation/Subprime (Erin MacIsaac) 1-209-601-1167 www.bear.com Equifirst 1-704-679-4400 www.equifirst.com Equity Funding Group 1-703-365-7800 www.efgsubmit.com Everbank Wholesale/A & Alt-a (Kim Klinge) 1-714-393-8523 www.everbankwholesale.com Fairfield Financial Mortgage Group/A, FHA, VA, Alt A (Rick McInturff) 1-240-506-4611 www.ffmgi.com Fidelity Home Mortgage 1-866-755-9331 www.fidelityhome.com Fifth Third Bank 1-800-972-3030 www.53.com/wholesalemortgage First Banc Home Mortgage 1-800-295-5363 www.firstbanchomemortgage.com First Fidelity Financial/A, Alt-A (Kim Wendt) 1-949-933-3601 www.fffbrokers.com First Franklin 1-800-475-1422 www.first-franklin.com First Guaranty Mortgage Corp. 1-888-509-2224 www.fgmcnj.com First Mutual Bank 1-888-568-4600 www.firstmutual.com/WholesaleResidential/Login.aspx First NLC Financial Services 1-800-950-3314 www.firstnlc.com Flagstar Bank 1-800-945-7700 www.wholesale.flagstar.com Franklin American Mortgage Corp. 1-800-295-1020 www.franklinamerican.com Gateway Funding 1-800-355-5626 www.gateway-funding.com GMAC Bank Wholesale 1-877-700-4622 www.gmacwholesale.com GN Mortgage Corporation 1-909-980-0885 www.gnmortgage.com Gordon Lending (Jim Johansen) 1-517-88[...]



Where are all the heavy hitters? (by: clarenceworley)
Maybe the bible prophecy post from years past was misinterpreted and the end of the world is really 2.28.18. Does IB know something we dont know??? - Last Post by: clarenceworley on 02/17/2018 @ 3:02 PM



need portfolio lender (by: bmd)
My client has a 712 score. She would ordinarily qualify to refinance her investment property which has a low LTV at 60% on $300k, but the property is SFR and it has a few issues. First, It is divided into 3 units, and each unit has its own separate entrance. Each has its own kitchen. There is the original kitchen that has a gas stove, and then there is an additional gas stove in one unit and an electric one on the 3rd unit. Also there are sinks in each unit. Not going to go and rip out the sinks...that would require moving the tenants out. Not going to happen. If this is a requirement of Fannie or Freddie to be saleable, then this is not one of those loans, and I need a lender will just service it themselves and keep in their portfolio. Who can do this and offer a good rate under 5%? - Last Post by: bmd on 02/17/2018 @ 11:57 AM



Mobile Home Loans - Mobile Park (by: KnowsBetter)
Whos doing mobile home loans in California for mobile homes in a park with space rent? - Last Post by: KnowsBetter on 02/17/2018 @ 09:55 AM



BROKER OUTPOST CLOSING!!!!! (by: KnowsBetter)
Just a reminder in case you havent logged on recently; the BO is shutting down. Head over to loxchange.com - Last Post by: KnowsBetter on 02/17/2018 @ 09:38 AM



11 Days to Bye Bye Broker Outpost (by: KnowsBetter)
Dont forget to register at LOXchange.com - Last Post by: KnowsBetter on 02/17/2018 @ 09:38 AM



chattel loans (by: KnowsBetter)
Mobile Home lender tells me I need a MRLS license to broker chattel purchase loans for mobile homes in CAL! WTF?Is this true? Ridiculous!!! - Last Post by: KnowsBetter on 02/17/2018 @ 09:30 AM



How Many of You Been on BO for 4+ Years? (by: zpaperkid)
I know many of us have been on BO for at least 4+ Years .... right about the time when "****" started hitting the fan with OWNIT and New Century going Down and when I reflect back to those days, it still seems SO AMAZING how the time has passed us by so quickly .... I wish you all the best and most prosperous 2011 ... Merry Christmas !! - Last Post by: zpaperkid on 02/16/2018 @ 8:13 PM



Quickest way to file taxes and get a transcript (by: homebroker@sbcglobal.net)
Borrower send 2017 taxes by mail I believe the transcripts are not yet ready. Would electronic filing or filing them at an IRS office make this process quicker to us pulling a 4506? - Last Post by: homebroker@sbcglobal.net on 02/16/2018 @ 5:23 PM



Lowest Priced Foreclosure Delay in the Industry (by: clarenceworley)
POSTPONE FORECLOSURES FOR UP TO 18 MONTHS - STOP TRUSTEE SALE DATES We offer wholesale pricing to realtors with the most competitive pricing in the industry. Call right away for more details! 888-225-0403 - Last Post by: clarenceworley on 02/16/2018 @ 2:56 PM



Best WHOLESALE lenders for Jumbo and ARMs? (by: celloshred)
Best pricing? - Last Post by: celloshred on 02/16/2018 @ 09:51 AM



Camber Marketing? (by: celloshred)
Any experiences? - Last Post by: celloshred on 02/16/2018 @ 09:50 AM



need an aggressive NJ Jumbo lender (by: clarenceworley)
I am looking for a very aggressive jumbo lender who can compete with the banks. PLEASE HELP! Losing thousands to the likes of Citibank, Wells Fargo and Bank of America. Thanks! - Last Post by: clarenceworley on 02/16/2018 @ 05:35 AM



COMMERCIAL LENDING - PANNING FOR GOLD! (by: clarenceworley)
2013 and prospects for any easing of investors conservative guidelines is wishful thinking due to uncertainties associated with the rising costs of maintaining a business (of any size) and the reality that consumer will be looking at some degree of reduced NET pay and higher costs of living as related to higher prices for imported produce, goods and raw materials as well as domestically produced energy. That will inevitably mean a lesser demand for goods and services and probably an uptick in unemployment. It also means that the slight signs of increased consumer spending in 2012 will likely dip as will the percentage of income set aside for savings. In very general terms, do not expect commercial and bank lenders return to 85% or greater LTVs on any type of deal whether it be new construction, purchase financing or re-financing. Todays paradigm: 55%-70% Loan to Cost on new developments excluding residential units/houses for sale unless the product is designated "affordable for community benefit" or multi-family units for rent; 65%-75% LTV on purchase/refis. Caveat being that the lender will insist on ordering their own MAI appraisal and possibly a feasibility study and the resulting value on which loan ratios will be based may not meet clients equity ability. One bright spot in the commercial financing sector is HOSPITALITY. Hotel revenue and profit performance has been steadily improving over the past three years as managements and franchisees have adopted better cost controls, improved services which have led to increase occupancy levels and a HIGHER revenue per available room. Within the hotel sector, the "hot spots" are limited service properties such as Comfort Inns and Suites, and Holiday Inn Express. Also reporting system-wide profit improvements, Embassy Suites and Marriot Courtyard. Predictably, the budget and extended stay brands join the Winners Circle. Retail centers and Power-Strips represent a mixed bag being greatly dependent on the economic health of the markets they serve. Thus buyers, developers of new retail project and those seeking to refinance will require independently authored Feasibility Studies as well as a MAI Certified Appraisal to support their case. Small balance commercial loans, with or without real estate collateral, have become the almost exclusive domain of SBA and USDA Guaranteed Lenders. However, borrowers are required to undergo a fairly "intrusive" prequalification process and, if the subject business lacks any any significant real estate collateral then the borrower must be prepared to provide their primary home or other acceptable and owned RE as collateral. Funding opportunities FOR THE RIGHT QUALITY OF DEAL are to be found through commercial lenders who are backed by private investment capital and from those sources that are tied into Hedge Funds. On that note, the client will need 30%-35% in direct capital participation and land that is already owned will be heavily discounted for lender valuation purposes and maybe 10%-20% of that discounted value will be allowed as an offset to the clients cash down contribution. Numerous clients who are unable to meet the increased % cash-to-table guidelines may be candidate for non-traditional/alternative methods of financing if they are unable to secure equity investors to cover the "gap". Some clients are now raising additional equity via a loan secured by their stock portfolios. Those loans can be for as a short a period as 60-days or 1-2 years at rates of between 7% and up to 12%. The past 2-years has seen an increase in the number of complex high leverage funding offers tied to some type of Bank Guarantee or SBLC. TREAD CAREFULLY! I can tell you from experience th[...]



Can we gross up SSI when there is tax withheld? (by: bmd)
Borrower voluntarily has federal income tax withheld from his SSI. Can we still gross up 125%? - Last Post by: bmd on 02/15/2018 @ 12:57 PM



remn (by: liverichly)
is it me or is this quite possibly the worst company to currently exist? The underwriters dont answer their phones. They condition on top of condition. There is no way to get through to them besides email and its almost as if they dont want to close the file. I am having nothing but terrible experience with them in the last 3 months. - Last Post by: liverichly on 02/15/2018 @ 12:39 PM



Seasoning Requirement Spouse (by: homebroker@sbcglobal.net)
I have a REFI currently its the brother and husband of the borrower on the title. She wants to REFI with her name alone as the husbands score is a little low, although she is not on tile. She never quitclaim any interest. The goal is to take the brother off, he has the Non-Occupant co borrower when they purchased. Do we still have to wait the 6 months or due to the fact she is a spouse in a community property state, it is legally already community property. Can we refinance in her name right away without the wait? - Last Post by: homebroker@sbcglobal.net on 02/15/2018 @ 12:28 PM



Rates up up and away (by: Rick_Santelli)
10 yr trading @2.900 11:00am Wednesday · 2.837% · DAY RANGE2.809 - 2.912 · 52 WEEK RANGE2.016 - 2.912 · PRICE98 22/32 · CHANGE-21/32 · CHANGE PERCENT-0.66% · COUPON RATE2.750% · MATURITYFeb 15, 2028 - Last Post by: Rick_Santelli on 02/14/2018 @ 7:03 PM



Foreign National Loans (by: deepakruparelia)
In search of Foreign National Lenders in Florida for my Canadian and Brazilian buyers. Any suggestions would be greatly appreciated. - Last Post by: deepakruparelia on 02/14/2018 @ 2:32 PM



30 yr fixed commercial?? (by: mainemortgageguy)
Does this exist anywhere? - Last Post by: mainemortgageguy on 02/14/2018 @ 1:48 PM



New tax laws limit salt standard deduction $12k (by: broker)
with new tax laws limiting state and local taxes at $10k but more importantly giving married couples 24k in deductions now , when offering clients 95% LTV conventional loan with 800 credit score & 40dti would you sell LPMI or BPMI , client keeping home 10yrs. - Last Post by: broker on 02/14/2018 @ 07:04 AM



Training Processors- do you pay for training? (by: JKen31)
Do you personally train and pay your processor(s)? Ive tried to train a few people but Im not aware of any formal processor training (a newly licensed person usually doesnt know how to process loans right away) My issue is that I find training very time consuming to the point where almost my entire day goes into explaining and showing things. I feel that I could have done twice the work each day if I didnt have to train anyone. On top of this, I have to pay the trainee? This seems like a pretty bad deal for the trainer/company. How is everyone training their processors and how are you guys paying them during training ( if you pay them) ? - Last Post by: JKen31 on 02/13/2018 @ 5:37 PM



Conventional Reverse Mortgage (by: 1stintegritymortgage)
Does anyone know who offers a Conventional Reverse Mortgage. I have a client that is free and clear on a Condo worth 200k, 83 years old, that the condo is not an FHA approved condo...so only way would be conventional. Any advice on who to call? Thanks, - Last Post by: 1stintegritymortgage on 02/12/2018 @ 07:15 AM



FHA AND JUDGEMENTS (by: Brianquigley)
Have a borrowers who has 2 judgements on her record, and wanted to pay them off with a cash out refinance. Is this even possible> - Last Post by: Brianquigley on 02/11/2018 @ 08:23 AM



Credit Reporting Agencies (by: AlexMTG)
My price for a credit report with two borrowers went up to $47 with Birchwood. Is everyone else seeing pricing that high? Who is everyone using and roughly what do they charge? - Last Post by: AlexMTG on 02/10/2018 @ 7:17 PM



Looking For Federally Chartered Bank (by: gcapozzoli)
Former loan officer looking for federally chartered bank to work under. Activated marketing program and receiving over 2 million in loan request per week. Preapproved 2years employment 1 year good rental history no bk no foreclosure past 2 years all with minimum scores of 580 FHA with down payments. If you can help contact Gerald West @ 214 554 8969. Thanks. - Last Post by: gcapozzoli on 02/10/2018 @ 2:19 PM



Need lender in TX. SFRs in LLC (by: thefinanceguy)
Looking for entity lender in TX - Last Post by: thefinanceguy on 02/09/2018 @ 2:29 PM



Co Signed Debt Omission (by: enerro)
Hi BO, Does anyone know a good N-Conforming lender that will allow a cosigned mortgage to be omitted with 12 mo bank statements? Thansk E - Last Post by: enerro on 02/09/2018 @ 12:46 PM



Is this a mini Refi Boom? (by: clarenceworley)
Not to brag but all of the sudden i have a boatload of refis from current client quite a few of which are FHA streamlines. Add that on top of the Darkstar leads and while Santa may be coming a little late the next couple of months are looking good. 6% on an FHA 30 year fixed was paying 2.8% today at M and T. - Last Post by: clarenceworley on 02/09/2018 @ 09:03 AM



575 o/o full doc cash out 67% ltv (by: brown14)
Hello everyone, Just wondering who could do this loan either fha or conventional if any. Here is the scenario. CA o/o fico: 575 Loan Amount:$300,000.00 LTV: 67% Cash out to pay off debt on credit $20K DTI: 48% @ 7% rate 360/360 - Last Post by: brown14 on 02/08/2018 @ 7:39 PM