Matrixes & Directories RESIDENTIAL;EDITION VOLUME 17 ISSUE 10 OctObEr 2010
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Prime products include loans exceeding Fannie Mae/Freddie Mac loan limits, but they
generally use traditional conforming credit guidelines. Minimum FICO scores would be
620 and greater, and few mortgage lates would be allowed (zero or one within 12 months).
prime niches »
prime first mortgages »
scotsmanguide.com/primeniche
scotsmanguide.com/prime1st
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The FHA/VA/government matrix includes loans sponsored or backed by a government
agency, excluding government-sponsored enterprises now under conservatorship.
Examples include Federal Housing Administration (FHA), U.S. Department of Veterans
Affairs (VA) and U.S. Department of Agriculture (USDA) Rural Housing loans. FICO scores as
low as 580 are allowed, as are bankruptcies/foreclosures, in some cases.
fha/va/government »
scotsmanguide.com/fhagov
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Hard-money lenders generally give more consideration to the value of the property/
collateral than to credit history. LTVs are usually less than 65 percent and credit scores,
if required, are less than 500. They specialize in unique, hard-to-find loans. Hard-money
lending can be referred to as private, equity or portfolio lending.
hard money »
scotsmanguide.com/reshardmoney
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Construction lenders provide loans for new construction or rehabilitation and renovation.
construction »
scotsmanguide.com/resconstr
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Warehouse lenders offer lines of credit for use in mortgage banking. Some offer training for
new mortgage bankers.
warehouse lines »
scotsmanguide.com/warehouse
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Find company addresses, descriptions, account executives and other information.
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scotsmanguide.com/resevents
resource directory »
scotsmanguide.com/resourcedir
wholesale lender directory »
scotsmanguide.com/lenderdir
online »
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