What do you do when an applicant is approved for a lower LTV Loan
than was anticipated?
There will be times when a borrower has come to you for a 85%
or 90% loan, and you are able to offer only financing up to 75%
or 80% of the appraised value. By suggesting that the borrower
consider a second mortgage held by the seller behind the one you
are creating, you can originate a first mortgage loan which might
otherwise go to another lender. You can work with the provider of
the second mortgage to insure that the ratios required for your
loan are not violated.
Contact David Protiva now.
Creating a new Note to be sold
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