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rugbydux
Dud?


Joined: 09 Jan 2008
Posts: 20

VA IRRRL's
PostPosted: Thu Nov 03, 2011 11:25 pm Reply with quoteBack to top

Is anyone still doing these with no appraisals, like the FHA streamlines? Anyone?
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Steve2007
Flash in the pan


Joined: 07 Jan 2010
Posts: 59
Location: Rhode Island

Re: VA IRRRL's
PostPosted: Fri Nov 04, 2011 3:10 am Reply with quoteBack to top

What state?

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Go123
Dud?


Joined: 31 Jan 2009
Posts: 7

Yes, but...
PostPosted: Sun Nov 06, 2011 12:33 pm Reply with quoteBack to top

From what I've found, only if you streamline an existing Wells loan back to Wells (for example). Since it's already in their book, they're on the hook no matter the LTV.

Otherwise, no one seems to want the risk of putting a wildly upside down loan on their books that belongs to someone else now...
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ClulessDad
Dyn-o-mite!


Joined: 17 Jul 2009
Posts: 224
Location: SoCal

Re: VA IRRRL's
PostPosted: Tue Nov 08, 2011 11:55 pm Reply with quoteBack to top

there are a few here in ca-most run an avm for ltv although wells and gmac will do neither an avm or appraisal if they already have the loan.

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