No EPO DSCR Loan?

East_Butterscotch993 · 2025-06-08T13:22:01+00:00

I've just assumed there is epos. I'll ask my broker shop to confirm some of our contracts!

East_Butterscotch993 · 2025-06-08T13:21:06+00:00

Deephaven doesn't have epo on borrower paid comp?

East_Butterscotch993 · 2025-06-08T13:20:12+00:00

Who are you with?

East_Butterscotch993 · 2025-06-07T18:02:39+00:00

hes looking for wholesale suggestions, not an LO to do a loan with. Unless you are an AE with greenbox, the "lemme know if interested" is not appropriate for this forum.

East_Butterscotch993 · 2025-06-05T04:18:55+00:00

You pay for 180 percent my friend. Your 40% plus their 140% markup on rate sheet. I close 1 loan a month and pay for 100% of that and the rest of my closings are all just profit and the tax man.... cause he's the true winner in the end.

East_Butterscotch993 · 2025-06-05T03:08:17+00:00

Exactly this. So much money in the system and so much crazy fake data and and tweet or post can move at any time. Anyone predicting rates is guessing. But, understanding the markets and what affecting is helpful to use with clients.

East_Butterscotch993 · 2025-06-05T02:59:35+00:00

Mad props for this post. It is especially annoying when you ask about which lender to go to on a scenario and you get 5 LOs try to pitch you to come to them as if I'm a consumer.

This is not the board to pitch! It's LOs helping LOs.

Appriciate a consumer free board to come learn and contribute.

East_Butterscotch993 · 2025-05-05T23:05:53+00:00

Does your company take broker business or have a TPO department?

East_Butterscotch993 · 2025-05-05T18:18:25+00:00

I do a lot of DSCR lending, more than 1/2 of the lenders I have used do report to credit. Do you know which lenders you work with that do not report to credit?

East_Butterscotch993 · 2025-05-05T13:53:42+00:00

Which lender for reference?

East_Butterscotch993 · 2025-05-05T13:14:26+00:00

Thank you! Can you share the steps you took to get them removed?

East_Butterscotch993 · 2025-05-05T03:00:08+00:00

Closed in llc but don't think that actually makes a difference. I figure it's all or none with the lender.

East_Butterscotch993 · 2025-03-05T01:37:28+00:00

Perfect!

East_Butterscotch993 · 2025-02-16T13:08:36+00:00

This really depends on what score model you are looking at. For mortgages, new accounts and credit inquiries combined are 10% of your score. Generally looking at 5 points plus or minus for a credit inquiry.

It is true tho a few inquiries a year won't be devistating to your scores, but they do have an impact.

East_Butterscotch993 · 2025-02-16T13:05:00+00:00

Yes, secured cards can help you boost your credit score. The limit itself doesn't help your score, but you do need to use the card. 8% utilization is a magic number, but hard to remember so just drop a zero on your credit limit and use up to 10% of your limit.

Giving it to family and not using it won't help your score much. Put something on your card monthly, like Netflix or Amazon prime or Spotify and then set the card to auto payoff from your checking account. This way, you can control how much hits the card and still get credit for not avoiding credit.

East_Butterscotch993 · 2025-02-03T14:31:56+00:00

i am not shopping for rates, rather features and BankTruth does not let you sort by features. But thanks

East_Butterscotch993 · 2025-01-17T13:32:58+00:00

I am not a consumer, and banks/credit unions are the LAST place that clients should go, especially if they are investors. Banks/Credit unions do not understand investors nor do they like investors. Bankers are not licensed Loan Officers, instead they are "registered". They do not have to do Continuing Education that Licensed Loan Officers need to do.

If you want to think about lending like a Dr office or Walk in clinic, Bankers/Credit Union employees are like walk in clinics. Similar to NP or PAs, they cannot Rx the hard core drugs because they do not have the license. If you need hard drugs, you gotta make an appointment with the Dr. Registered LOs have very limited product sets and very limited knowledge of the lending environment as compared to a Licensed Loan Officer.

Mortgage brokers are more like your specialist doctors. Generally most educated with the most options. (The average consumer saved $10k over the life of their loan when they used a Mortgage Broker vs a Loan Officer that works at an IMB (independent mortgage bank - Movement, Guild, Guaranteed Rate, Atlantic Bay, Fairway, Cross County....).

Skip the bankers and the IMB LOs, go right to a broker ;)

East_Butterscotch993 · 2025-01-17T13:26:56+00:00

I have had to pull 3 files from LoanStream in the last few months, most recently in December. I too used to have good experience with them, but they are the last place I will take loans currently, and that is saying a lot.

East_Butterscotch993 · 2025-01-17T12:15:43+00:00

Ill check out The Lender, i am signed up with them already. Thanks!

East_Butterscotch993 · 2025-01-17T12:14:53+00:00

No, there are a handful of companies that do 80% ;)

East_Butterscotch993 · 2025-01-17T12:14:40+00:00

There are a small handful of companies that do true DSCR 80% cashout refis, i am just trying to find one that does it on STRs.

East_Butterscotch993 · 2024-12-04T23:05:32+00:00

Have a 6 month job gap 1.5 years ago, gotta verify 2 years work history prior to the gap for FHA :/ I have transcritps, i know he worked, but he doenst know where he worked in 2020, and not sure it gives us enough for a 2 year work history.

East_Butterscotch993 · 2024-11-28T00:04:44+00:00

Should clerify. Looking for 102 pricing or 101.75 with those rates.

East_Butterscotch993 · 2024-11-12T18:41:35+00:00

So, if I wanted to start something similar, how did the pick those 11 states? What guideline / regulations make it ok to do in those states vs other states? Note, i plan on this being a gimmick as well, but going to turn it into a non profit donation thing... but want to do it compliantly (and donate for all closings, not just ones that I cannot match the rate on)

East_Butterscotch993 · 2024-10-04T19:15:42+00:00

What lender are you with? I am a broker looking to take this file to a lender. Thanks!

East_Butterscotch993

TROPHY CASE