JP BofA_IHB
New member
I work for Bank of America Home Loans in Irvine. Please feel free to ask me any questions you may have about current rates, down payment requirements and other questions you may have.
Mortgage questions for a local Professional??
- Thread starter JP BofA_IHB
- Start date
NEW -> Contingent Buyer Assistance Program
irvine_home_owner_IHB
New member
Where did bk put that?
Aha... here it is:
<img src="http://i31.tinypic.com/2e3n2u0.jpg" alt="" />
Welcome to the IHB... but be warned... it will not be easy even if you're legit.
Aha... here it is:
<img src="http://i31.tinypic.com/2e3n2u0.jpg" alt="" />
Welcome to the IHB... but be warned... it will not be easy even if you're legit.
JP BofA_IHB
New member
Please explain??
LoudRoar_IHB
New member
Wow the banks have joined the discussion?
What is that smell? OMG I really smell CHANGE!
<object width="325" height="250"><embed src="http://www.youtube.com/v/youtube" type="application/x-shockwave-flash" width="325" height="250"></embed></object>
What is that smell? OMG I really smell CHANGE!
<object width="325" height="250"><embed src="http://www.youtube.com/v/youtube" type="application/x-shockwave-flash" width="325" height="250"></embed></object>
reason_IHB
New member
Yes, I have a question. Do you still do Negative Amortization loans? Haha!
Daedalus_IHB
New member
And is it possible to get a refi at 100% DTI? Back end only (of course!).
Mcdonna1980_IHB
New member
How many foreclosures does BOA have on their books?
usctrojanman29_IHB
New member
[quote author="BofAJPIrvine" date=1252066715]I work for Bank of America Home Loans in Irvine. Please feel free to ask me any questions you may have about current rates, down payment requirements and other questions you may have.</blockquote>
Why the hell you lenders not allow buyer's agents to contribute a portion of their commissions to their buyers escrow?
Why the hell you lenders not allow buyer's agents to contribute a portion of their commissions to their buyers escrow?
usctrojanman29_IHB
New member
[quote author="Mcdonna1980" date=1252068946]How many foreclosures does BOA have on their books?</blockquote>
Why hasn't an NOD been filed on my friends who have stopped paying their mortgage since Oct. 2008?
Why hasn't an NOD been filed on my friends who have stopped paying their mortgage since Oct. 2008?
irvine_home_owner_IHB
New member
[quote author="BofAJPIrvine" date=1252067356]Please explain??</blockquote>
^
Those posts should be self-explanatory.
^
Those posts should be self-explanatory.
reason_IHB
New member
And why did you freeze my credit(s)? You bast@rds!
garrison_IHB
New member
TI
CapitalismWorks_IHB
New member
What are the home price projections BofA is using across CA, NV, AZ, and FL?
mprince_IHB
New member
I think you guys scared the poor guy away 
zubs_IHB
New member
It will take you about 6 months to build a reputation on this board before you can possibly make money slinging your mortgages. The peanut gallery needs to get a feeling about you before we trust you. Otherwise we'd just use soylent green....I'm not even sure if he even is selling mortgages, but he seems to know a lot.
usctrojanman29_IHB
New member
[quote author="zubs" date=1252117283]It will take you about 6 months to build a reputation on this board before you can possibly make money slinging your mortgages. The peanut gallery needs to get a feeling about you before we trust you. Otherwise we'd just use soylent green....I'm not even sure if he even is selling mortgages, but he seems to know a lot.</blockquote>
+1 Solyent is a good guy. A few of my buyers are chatting with him. He seems to know his stuff and doesn't give you the typical mortgage broker BS either. I know for a fact that he hasn't offered his services to the forum, but I figured contacting him would be beneficial to get a few questions answered.
+1 Solyent is a good guy. A few of my buyers are chatting with him. He seems to know his stuff and doesn't give you the typical mortgage broker BS either. I know for a fact that he hasn't offered his services to the forum, but I figured contacting him would be beneficial to get a few questions answered.
Soylent Green Is People_IHB
New member
Many thanks to all for your high compliments.
As to Garrison's question, Agency Jumbo Conforming has a posted 45% DTI limit. That can be 22/45 or 45/45. Automated Underwriting allows for higher DTI and most of those pesky human underwriters bow to whatever the automated underwriting results say. If the robot says you can qualify with a 47/47 DTI then you're approved! Anything with a 50 in it is usually verboten.
My .02c
Soylent Green Is People
As to Garrison's question, Agency Jumbo Conforming has a posted 45% DTI limit. That can be 22/45 or 45/45. Automated Underwriting allows for higher DTI and most of those pesky human underwriters bow to whatever the automated underwriting results say. If the robot says you can qualify with a 47/47 DTI then you're approved! Anything with a 50 in it is usually verboten.
My .02c
Soylent Green Is People
usctrojanman29_IHB
New member
[quote author="Soylent Green Is People" date=1252155719]Many thanks to all for your high compliments.
As to Garrison's question, Agency Jumbo Conforming has a posted 45% DTI limit. That can be 22/45 or 45/45. Automated Underwriting allows for higher DTI and most of those pesky human underwriters bow to whatever the automated underwriting results say. If the robot says you can qualify with a 47/47 DTI then you're approved! Anything with a 50 in it is usually verboten.
My .02c
Soylent Green Is People</blockquote>
So if your LTV is 70% or even lower than the black box known as the automated underwriting will allow for a 49% back-end DTI? Basically, is it true that the lower your LTV the higher the system lets you go on back-end DTI? What are the DTIs for the regular $417k agency conforming loans?
As to Garrison's question, Agency Jumbo Conforming has a posted 45% DTI limit. That can be 22/45 or 45/45. Automated Underwriting allows for higher DTI and most of those pesky human underwriters bow to whatever the automated underwriting results say. If the robot says you can qualify with a 47/47 DTI then you're approved! Anything with a 50 in it is usually verboten.
My .02c
Soylent Green Is People</blockquote>
So if your LTV is 70% or even lower than the black box known as the automated underwriting will allow for a 49% back-end DTI? Basically, is it true that the lower your LTV the higher the system lets you go on back-end DTI? What are the DTIs for the regular $417k agency conforming loans?
Soylent Green Is People_IHB
New member
Each company has their own conforming loan overlays that either expand or contract guidelines. Automated Underwriting can be fooled into giving a false positive at 65% DTI in some cases, but our company for example has a 52% max DTI limit.
I can get 49/49 DTI approved given very strong compensating factors. It's all in how the mortgage professional prepares their case before submitting a package. A 52/52 would be near to impossible to obtain without papal blessing.
My .02c
Soylent Green Is People.
I can get 49/49 DTI approved given very strong compensating factors. It's all in how the mortgage professional prepares their case before submitting a package. A 52/52 would be near to impossible to obtain without papal blessing.
My .02c
Soylent Green Is People.