Posted by Ndwa on 8/24/07 6:49pm
Msg #207583
Trend to look for
Did one this week for a new (to me) lender. Here's what it read on the STIP sheet.
" XYZ will not originate any loan identified as "High Cost" mortgages under Federal or State laws. All loans must be determined to have sufficient net tangible benefit to the borrower(s), at XYZ's sole descretion"
LTV: 78%
Interest Rate: 8.8%
Discount Pts. $5xxx.00
Terms 252 months
Program A+
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