Posted To: Pipeline PressWhether bond loans (we all know how management loves those), non-QM, reverse mortgages, or high loan to values, originators everywhere are working hard for their borrowers and being creative in a compliant manner. For example, from Minnesota Eric Otterness writes, “Recently my team and I closed on a loan for a first-time buyer in Minneapolis where we had eight down payment assistance programs layered on top. I’m pretty sure that $86,000 on a $190,000 house is a new world record! It was fun and I doubt it has ever been matched or will ever be beaten. If anyone knows of a transaction where there were more, let them come forward and we will stop claiming the new world record!” Lender Products and Services Mr. Cooper Correspondent is excited regarding the pending acquisition of…(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
Michael Ayoub, Author NMLS ID 6631