interest rates

[mpimping]

maybe the rates weren't updated. I'll check tomorrow. Since you are a first time home buyer you might be able to get close to 5.5% do you have a signed contract?

[mpimping]

Originally Posted by shpuntik

I am not a broker and therefore am not sure what "junk" fees are.

But the standard fees are $500 for underwriting and processing and a $395 application AND appraisal fee.



Those rates are posted for the public and are extremely different than internal rates. You, out of all people, should know that.

Why don't you tell everyone what commitment and origination fees you charge for this loan. Also please disclose what you are getting on the back (industry talk for yield spread).

how many basis points are you making? I would probably bank this so I wouldn't have to disclose like you

[Dmitriy@AUTOcouture]

Originally Posted by mpimping

Wells Fargo 5.625 % 100.530 100.236
US Bank 5.625 % 100.289 100.164
Amtrust 5.625 % 100.244 100.094
CitiMortgage 5.625 % 100.243 99.986
Suntrust Corr 5.625 % 100.149 100.024 that's paying close to nothing so I think it is highly suspect that you can give him 5.625% with no points or origination fees but I am going to check tomorrow when the new rates come out.

Rates will be higher for you tomorrow morning my friend. MBS is trading very poorly and the 10 year is no longer a leading gauge of interest rate volatility. Besides the fact that every single reputable financial institution is trying to do away with you guys because of all the sh*t you caused with liar loans. Primarily by eliminating their product sets offered to brokers, as well as charging them higher rates to lend money.

I sure hope that you were trying to do the best that you can by your customers, especially when you gave Option ARM's to anything with a pulse and no income.

[mpimping]

Originally Posted by shpuntik

Rates will be higher for you tomorrow morning my friend. MBS is trading very poorly and the 10 year is no longer a leading gauge of interest rate volatility. Besides the fact that every single reputable financial institution is trying to do away with you guys because of all the sh*t you caused with liar loans. Primarily by eliminating their product sets offered to brokers, as well as charging them higher rates to lend money.

I sure hope that you were trying to do the best that you can by your customers, especially when you gave Option ARM's to anything with a pulse and no income.

I never sold even one option ARM. Who is your manager Darren Fink?
You aren't on the website... No dimitry at Chase New York, NY

[Dmitriy@AUTOcouture]

Originally Posted by mpimping

I never sold even one option ARM.

I take that back then.

[mpimping]

Dimitri Sandler’s Experience

*
Mortgage Loan Consultant
Chase

(Public Company; 10,001 or more employees; WM; Banking industry)

May 2008 — Present (5 months)

I am empowered by Chase to offer mortgage financing consulting and origination services for residential properties in all 50 states.
*
Home Mortgage Consultant
WaMu

(Banking industry)

January 2007 — April 2008 (1 year 4 months)

My support team and I strive to help people achieve their dream of homeownership through best possible mortgage financing options. This can only be achieved by providing clients with most excellent service, which would retain them as a customer for life and as a referral partner in the future.
*
Sales Associate
WaMu

(Banking industry)

March 2006 — January 2007 (11 months)

Assisted 3 top producers in the area to originate, process and develop business. Duties included maintaining a smooth process from application to funding as well as maintaining a contact with all clients after funding.
*
Funder
Argent Mortgage

(Privately Held; 1001-5000 employees; Financial Services industry)

2004 — 2006 (2 years)

Maintained communication with closing agents, attorneys and mortgage brokers to insure that all loans closed properly and problem free, while providing excellent customer service. Also made sure that all loans closed/ funded were properly executed then packaged and shipped to later be sold to investors.
*
Doc Drawer
Argent Mortgage

(Privately Held; 1001-5000 employees; Financial Services industry)

2003 — 2006 (3 years)

I applied my knowledge of origination and closing process of loans, in a deadline driven atmosphere to help the brokers and title attourneys guide borrowers to a swift closing and funding process. Analized title insurance documents and created the closing documents/ package, then prepared loan for closing/ funding.

Dimitri Sandler’s Education

*
State University of New York at New Paltz

BS, 2000 — 2004

Additional Information
Dimitri Sandler’s Websites:

* Russian CT Community Organiz.

Dimitri Sandler’s Interests:

Reading, cooking, golf, snowboarding, martial arts, professional networking.
Dimitri Sandler’s Groups:

Toastmasters

* Mortgage Survivors Network!! Mortgage Survivors Network!!

you are talking smack when you worked for argent mortgage. lol

[Dmitriy@AUTOcouture]

Originally Posted by mpimping

Dimitri Sandler’s Experience

*
Mortgage Loan Consultant
Chase

(Public Company; 10,001 or more employees; WM; Banking industry)

May 2008 — Present (5 months)

I am empowered by Chase to offer mortgage financing consulting and origination services for residential properties in all 50 states.
*
Home Mortgage Consultant
WaMu

(Banking industry)

January 2007 — April 2008 (1 year 4 months)

My support team and I strive to help people achieve their dream of homeownership through best possible mortgage financing options. This can only be achieved by providing clients with most excellent service, which would retain them as a customer for life and as a referral partner in the future.
*
Sales Associate
WaMu

(Banking industry)

March 2006 — January 2007 (11 months)

Assisted 3 top producers in the area to originate, process and develop business. Duties included maintaining a smooth process from application to funding as well as maintaining a contact with all clients after funding.
*
Funder
Argent Mortgage

(Privately Held; 1001-5000 employees; Financial Services industry)

2004 — 2006 (2 years)

Maintained communication with closing agents, attorneys and mortgage brokers to insure that all loans closed properly and problem free, while providing excellent customer service. Also made sure that all loans closed/ funded were properly executed then packaged and shipped to later be sold to investors.
*
Doc Drawer
Argent Mortgage

(Privately Held; 1001-5000 employees; Financial Services industry)

2003 — 2006 (3 years)

I applied my knowledge of origination and closing process of loans, in a deadline driven atmosphere to help the brokers and title attourneys guide borrowers to a swift closing and funding process. Analized title insurance documents and created the closing documents/ package, then prepared loan for closing/ funding.

Dimitri Sandler’s Education

*
State University of New York at New Paltz

BS, 2000 — 2004

Additional Information
Dimitri Sandler’s Websites:

* Russian CT Community Organiz.

Dimitri Sandler’s Interests:

Reading, cooking, golf, snowboarding, martial arts, professional networking.
Dimitri Sandler’s Groups:

Toastmasters

* Mortgage Survivors Network!! Mortgage Survivors Network!!

you are talking smack when you worked for argent mortgage. lol

Umm my name is not Dimitri Sandler... I do not work for anybody name Darren, and I do not have a Chase website.

[Dmitriy@AUTOcouture]

Bottomline is no matter who the OP goes to, to get a mortgage, he should be quoted a low rate. Especially with the siege of Fannie/Freddie and the Government's cash injection into the Mortgage Backed Securities.'

I'm not trying to say that broker's are good or not good, but why would you say that my rates are fake?

[mpimping]

Originally Posted by shpuntik

Umm my name is not Dimitri Sandler... I do not work for anybody name Darren, and I do not have a Chase website.

it was weird that you weren't on the site. I guess it's not updated... if you can do better then good for you. I don't care. we don't even know if this guy has a contract. I would take a job at chase if they gave me branches.

[Dmitriy@AUTOcouture]

Originally Posted by mpimping

it was weird that you weren't on the site. I guess it's not updated... if you can do better then good for you. I don't care. we don't even know if this guy has a contract. I would take a job at chase if they gave me branches.

Why wouldn't they give you branches? How much pain are you feeling now that a lot of lenders are not allowing brokers to do Jumbo products?

TRUST ME, I would love to to quote 5.625% on a 5/1 Jumbo ARM from Astoria, ING, or Hudson City if I could. I am at 7.25% on Jumbo 5/1, feels HORRIBLE.

[mpimping]

Originally Posted by shpuntik

Bottomline is no matter who the OP goes to, to get a mortgage, he should be quoted a low rate. Especially with the siege of Fannie/Freddie and the Government's cash injection into the Mortgage Backed Securities.'

I'm not trying to say that broker's are good or not good, but why would you say that my rates are fake?

i didn't say they were fake maybe your pricing was updated faster. I was just skeptical because at 5.625% on a 30 day I was making a very small premium and on the Chase site it was charging one...

[Dmitriy@AUTOcouture]

Originally Posted by mpimping

i didn't say they were fake maybe your pricing was updated faster. I was just skeptical because at 5.625% on a 30 day I was making a very small premium and on the Chase site it was charging one...

Oh OK. Got it.

Like I said earlier, you should know that public sites say one thing and internal rates are MUCH different

[mpimping]

Originally Posted by shpuntik

Why wouldn't they give you branches? How much pain are you feeling now that a lot of lenders are not allowing brokers to do Jumbo products?

TRUST ME, I would love to to quote 5.625% on a 5/1 Jumbo ARM from Astoria, ING, or Hudson City if I could. I am at 7.25% on Jumbo 5/1, feels HORRIBLE.

we are correspondent and the pricing was decent as of yesterday. we also broker stuff. astoria and hudson are very strict. hudson is weird and out of the market on their fixed rate jumbos...

[mpimping]

Originally Posted by shpuntik

Oh OK. Got it.

Like I said earlier, you should know that public sites say one thing and internal rates are MUCH different

with wells it's the opposite. if you call the call center instead of the loan officer you get a better rate.

[Dmitriy@AUTOcouture]

Originally Posted by mpimping

we are correspondent and the pricing was decent as of yesterday. we also broker stuff. astoria and hudson are very strict. hudson is weird and out of the market on their fixed rate jombos...

Ahhh OK. Please describe strict... 60% LTV, 780 FICO, Max 45% DTI?

[Dmitriy@AUTOcouture]

Originally Posted by mpimping

with wells it's the opposite. if you call the call center instead of the loan officer you get a better rate.

LOL nice... I'll remember that when I need to get my own mortgage.

[mpimping]

Originally Posted by shpuntik

Ahhh OK. Please describe strict... 60% LTV, 780 FICO, Max 45% DTI?

they have their own system but the stated only went up to 600k and I had someone at 609k and it was declined with a crazy(780) fico, self employed borrower with enough reserves. They don't lend in Manhattan and don't deal with bankers, only brokers...
They only lend where they have a branch. look at their stock. if you have Jumbo loans, I can price them out and if you have no other choice I will do the deal and give you a conforming loan or we can figure something out until the market loosens up.

[StrifeM3]

Originally Posted by shpuntik

Rates will be higher for you tomorrow morning my friend. MBS is trading very poorly and the 10 year is no longer a leading gauge of interest rate volatility. Besides the fact that every single reputable financial institution is trying to do away with you guys because of all the sh*t you caused with liar loans. Primarily by eliminating their product sets offered to brokers, as well as charging them higher rates to lend money.

I sure hope that you were trying to do the best that you can by your customers, especially when you gave Option ARM's to anything with a pulse and no income.

Wow banks put the program out for brokers to sell it with high incentives and you want to blame the brokers .....

[mpimping]

5.75% today with no points... 60 day lock...