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  1. Not exactly sure what they'd use for value, but going by kbb retail pricing, it's be a hair under 93%.
  2. Hi Marv (or anyone), just trying to get an idea on if now is a decent time to attempt refinancing or should I wait for later? I had a BK7 discharged in 6/09, bought a car in 12/09, financing about 15k for 73 months at 24% interest with cap one, payment of $380 monthly. Looking to keep my payment around $400 but shorten the term. Thanks, Craig. Credit Application: Your Age? 36 Your Equifax Credit Score? 614 Your Experian Credit Score? 640 Your TransUnion Credit Score? 627 How many years have you been on file with Equifax? 10 How many years have you been on file with E
  3. hogied


    VA IRRL, commonly referred to as a VA streamline is true rate/term refinance. No money can be received at closing with the exception of any reimbursement of any fees you paid in advance or a "energy efficiency loan" up to $6k, although the latter is in the form of an escrow holdback. There are no credit checks, no appaisals and the VA funding fee is reduced to .5%, but this is waived if you have a service connected disablity. Pretty much the only thing required is a good 12 month VOM, signed VOR and a clean title report. These generally close within 5 to 7 days from date of submission
  4. hogied

    mortgage officer

    Hey, I'm still a pro. Just not a mortgage pro.
  5. hogied

    mortgage officer

    I don't know either, but I know I can. Franklin Bank is licensed in all 50 states and does not require any additional licensing. Overall, a pretty good company to work for, with the exception of dealing with one particular underwriter. Zib and VA Loan Source both work for Franklin Bank and they can offer more information if requested. But to answer the original question, direct lenders/banks, such as Wells, Countrywide, etc. are bank exempt from state licensing requirements.
  6. Nicole, I've always been good about biting my tongue when loan officers are way off base, but your loan is fraudulent. I won't go into the rest of your post, but there's not a whole lot that's correct there.
  7. Brokers are better, however your file is appears to be so clean that I doubt USAA could screw it up. If you wanna stick with USAA, just ask to be assigned to another loan officer.
  8. The page links http://www.995hope.org/ I never heard of them, but they definately sound legit.
  9. Steve is my ex-boss. Your in good hands as long as he remembers half of what I taught him.
  10. It needs to appraise for the sales price. VA funding fee is financed on top of the base loan amount. Editted to add: The concessions must included in the sales price.
  11. That won't accomplish anything. Most lenders won't even accept a partial payment. Try to do it online and it won't even be an option. Mail a check and they'll send it back.
  12. mortgages don't work that way. You are "billed" for the month previous and the date you pay it has no bearing on the accrued interest provided you pay it on the month due.
  13. I'm guessing that the old home was refinanced owner occ.
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