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FenderBenderYSP
Dyn-o-mite!
Joined: 01 Jun 2008
Posts: 275
Location: East of BFE
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Are lenders discontinuing FHA Streamline Loans (without appraisals)? |
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What do you think a stimulus is? It's spending - that's the whole point! Seriously.
-- Barack Obama |
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IRISHJOHNHARDY
Dud?
Joined: 16 Feb 2009
Posts: 14
Location: MD
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Not that I have heard. The VA loans are starting to require appraisals from most lenders though. |
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rlbayne
Flash in the pan
Joined: 14 Oct 2008
Posts: 78
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Really? You've had to get an appraisal for an IRRL? |
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IRISHJOHNHARDY
Dud?
Joined: 16 Feb 2009
Posts: 14
Location: MD
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With a couple of lenders. Yes. Haven't heard any requesting them for FHA. An AE told me that all the VA's that Wells buys, they now want appraisals. |
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mahalo guy
Demolition Man
Joined: 28 Jun 2008
Posts: 2082
Location: Honolulu
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It makes sense if you think about it.
The VA guarantee does not cover the whole loss in theory. |
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maudejo
Schumpeter Reincarnate
Joined: 11 Dec 2007
Posts: 4790
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I'm in streamline la la land and have yet to see any of these policies put in place as of yet for either va or fha. |
_________________
"For every thousand hacking at the leaves of evil , there is one striking at the root" - Henry David Thoreau
In the end, though, I believe that the freedom/liberty people and message and the natural physics of the events at work, will assist the centralized power structures of the last two centuries to crumble to ash under their own despotic mass.
JW |
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mahalo guy
Demolition Man
Joined: 28 Jun 2008
Posts: 2082
Location: Honolulu
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Many wholesalers are asking brokers for appraisals on VA IRRL's in Hawaii.
I wonder whats next?
| maudejo wrote: |
| I'm in streamline la la land and have yet to see any of these policies put in place as of yet for either va or fha. |
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maudejo
Schumpeter Reincarnate
Joined: 11 Dec 2007
Posts: 4790
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| mahalo guy wrote: |
Many wholesalers are asking brokers for appraisals on VA IRRL's in Hawaii.
I wonder whats next?
| maudejo wrote: |
| I'm in streamline la la land and have yet to see any of these policies put in place as of yet for either va or fha. |
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I think the key is that investor requirements keep changing. FHA and VA guideliines are not. Who wants to buy MBS's anymore anyway? |
_________________
"For every thousand hacking at the leaves of evil , there is one striking at the root" - Henry David Thoreau
In the end, though, I believe that the freedom/liberty people and message and the natural physics of the events at work, will assist the centralized power structures of the last two centuries to crumble to ash under their own despotic mass.
JW |
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Guest
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rjbaxter
Dud?
Joined: 26 Feb 2010
Posts: 1
Location: Denver, CO
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With rates so good, just refinance at a higher rate and pay all of the borrower's closing costs if the value isn't there. |
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RJ Baxter
First Mortgage Corp |
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