Quote:
Originally Posted by JustRalph
Thank you. Good to hear from someone on the inside.
It still looks like a rough landscape to be traversing.
Btw, I want to hire that 24 yr old…….too bad she is so far away
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Another example I got the clear to close on today;
Borrower moving back to Michigan. 28 and makes six figures. Spring of 2018 he had 2 late payments on his credit card fresh out of college. Everything else boring picture perfect and if I those lates weren't there he'd be a 765.
Instead he's a 677. He's getting approved because of that payment history.
Difference; 5.25% vs 5.875%.
On a 330k loan amount that equates to over $130/mo more in payment.
Its mental.
It also illustrates my point about good sub 680s and poor sub 680s. This is a strong strong borrower despite his score. Shitty sub 680s don't get approved.