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Aaron
A-Bomb


Joined: 24 Jan 2007
Posts: 824
Location: Atlanta, GA

Unimortgage
PostPosted: Thu Mar 08, 2007 4:44 pm Reply with quoteBack to top

from the mailbag:

"Hey I just got an email from my AE at Unimortgage. He said they are now closed.

Just thought you might like to know.
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HaleyDog
Flash in the pan


Joined: 14 Feb 2007
Posts: 30

Re: Unimortgage
PostPosted: Fri Mar 09, 2007 4:13 pm Reply with quoteBack to top

Obviously they've taken the word "prudent underwriting" out of their risk model. If they are still in business they won't be for long with these products off their web page. No credit - no problen / just come out of B/K - no problem / Bad credit - no problem.

Paying back the loan we gave you - problem

$ No trade depth requirements at 100% LTV regardless of FICO.
$ 1 Day out of Bankruptcy at 100% LTV
$ Highest FICO Score Option
$ 1 X 120 in the last 12 months OK
$ Limited Doc and Lite Doc Bank Statement Programs
$ 95% LTV on non-owner Full Doc and 90% LTV on non-owner Stated Doc
$ 40 Year Terms on Fixed, 2/28, 3/27 and 5/25
$ 100% LTV Stated Self Employed and W2 ? Alt. A Program
$ Stated Income down to 500 credit score, Self Employed or W2
$ No Doc program - No Income, No Employment, No Assets,
$ Stated Income, Verified Assets (SIVA)
$ Interest Only program with 5 to 10 year interest only period
$ Loans up to $600,000 and Cash Out up to $200,000
$ NO SEASONING of funds on most Purchase Money Programs
$ Seller Contributions up to 6%
$ No LTV cut backs for 1-2 units, condos, townhomes, and rural properties
$ 12 or 24 Month Bank Statement Program - priced as FULL DOC
$ 55% Debt ratio's
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