9/22/2014 What's New?
Rates improved a slight bit today, but everyone is still expecting rates to go up a bit due to the Fed stopping their support of Mortgage Backed Securities in Oct.
Stated loans and bank statement loans are making a comeback, however, they aren't exactly like their predecessor loans. You now have to show bank deposits that are similar to what you are claiming as income on your application.
I now have a loan with 20% down for those people who have had a foreclosure, short sale or bankruptcy just 1 day after the event. I am currently in the process of getting a new lender that will offer interest only 3, 5 and 7 year ARMS…….!!!
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