.

I’m Optimistic There Will Be NO Shortage of Refinance and New Mortgage Business for US in the Future

Because we work with multiple lenders, we have the ability to place loans that banks and credit unions turn down.

Every day, we get referrals from banks, credit unions, mortgage bankers and other loan officers, sending us refinance business they can’t do. That isn’t going to change anytime soon.

Most institutions have a minimum credit score criteria that is different than what we can get done. I can also assure you these clients will not default on a mortgage, quicker than a higher credit score, as long as the loan is underwritten correctly.

Most institutions have a maximum debt ratio, that is different than what we can get done.

Steve was referred by a bank that refers business all the time. He was buying a new home for $705,000. He was putting $205,000 down, the problem was that he had a late payment on a truck 4 months earlier, which dropped his credit scores. The late payment was with the same bank and he was told they can’t do his loan.

This was an easy loan for us to do, we did a $417,000 1st mortgage and a $83,000 home equity line for him, as he was selling a large piece of equipment and wanted to pay down his mortgage even further.

There is always a way to accomplish the goal.

A Case for Optimism: Why the Origination Cliff May Be Avoided

By: Paul Muolo

This post is contributed by a community member. The views expressed in this blog are those of the author and do not necessarily reflect those of Patch Media Corporation. Everyone is welcome to submit a post to Patch. If you'd like to post a blog, go here to get started.

Guido November 22, 2012 at 05:23 PM
Kaptainsteve, I am no fan of Obama. If unemployment and poverty continue to increase in our country, there may be a repeat of 1789. This continued decline in standards of living of the working classes along with the continued transference of wealth to the very few may have disastrous repercussions, with people taking to the streets. Have we already forgotten the Arab spring and the Occupy revolts? When jobs continue to go overseas, and unemployment continues to rise, and prices continue to increase, and people continue to lose their homes and health insurance, take heed. It will affect everyone in this country. It has happened before and can happen again. History has a nasty habit of repeating itself.
Bill November 22, 2012 at 10:24 PM
Well Bobbie, I haven't come out for or against wither war, and as for Nazi, which you brought up, just remember that you can't even spell Nazi without Socialist Workers Party. Hmm, that doesn't send too republican or neocon now does it.
Bill November 22, 2012 at 10:27 PM
And again Bobbie, what does any of your ranting have to do with mortgages? Just wondering, make the connection for me, because I can't seem to find it.
Bill November 22, 2012 at 10:29 PM
Oh and one more thing, since you didn't refute it, are you really all for a new French style revolution with all the killing and war etc? Really? I though you lefties purported to be more warm and fuzzy than that.
Guido November 22, 2012 at 10:53 PM
Billy, are you auditioning to be a Fox News host with your habit of misquoting and putting words in other's peoples mouths. That's exactly the kind of laughable logic I'd expect from a brainwashed, Bible-banging tool of the Religious Reich and Michelle Malkin. .

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