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You Need a Mortgage Broker Now
Treasury prices dipped today ahead of the scheduled auctions as fear over a Greek default ebbed. News of increased job openings; greater than expected wholesale inventory decline in December and the rise of the US Small-Business Confidence Index (for the first time in 3 months) bolstered the case for recovery and higher rates.
You need a mortgage broker because the Lender that made you a loan even one year ago either does not exist or has substantially changed.
Case 1: We had strong low ltv cash-out refinances or purchases of well located apartment properties in which the Borrower had no outside income. All were executed by our lead Bank after having been rejected by our other first tier lenders.
Case 2: A Borrower with an apartment property that had a "story" went direct to their Fannie Mae DUS Lender for a refi. They were not satisfied with the loan amount. They came to us. We packaged and presented the deal properly to 2 other DUS Lenders and received quotes a for loan amount $2.25MM higher.
Case 3: An owner-user cash-out refi was rejected (for all but minimal cash-out) by 12 Lenders in Nov, Dec. We went back to the lenders in January and one lender had significantly improved their program including the rate, ltv, and pre-pay penalty.
If you have the time, skill and knowledge to do this yourself, come join us and we will pay you. (Success fee only.)
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