Comments on: Can my ex get a mortgage after bankruptcy? http://the.blog.lenderratematch.com/2008/06/18/can-my-ex-get-a-mortgage-after-bankruptcy/ Mortgage Talk Sat, 31 Jul 2010 09:41:22 +0000 http://wordpress.org/?v=wordpress-mu-1.2.5 By: Dimitrios Gikas http://the.blog.lenderratematch.com/2008/06/18/can-my-ex-get-a-mortgage-after-bankruptcy/#comment-518 Dimitrios Gikas Thu, 24 Jul 2008 17:12:49 +0000 http://the.blog.lenderratematch.com/2008/06/18/can-my-ex-get-a-mortgage-after-bankruptcy/#comment-518 Also, the lenders that do have FICO score hits for FHA use the LOWER middle score of all borrowers to price the loan. Also, the lenders that do have FICO score hits for FHA use the LOWER middle score of all borrowers to price the loan.

]]> By: Dimitrios Gikas http://the.blog.lenderratematch.com/2008/06/18/can-my-ex-get-a-mortgage-after-bankruptcy/#comment-517 Dimitrios Gikas Thu, 24 Jul 2008 16:39:36 +0000 http://the.blog.lenderratematch.com/2008/06/18/can-my-ex-get-a-mortgage-after-bankruptcy/#comment-517 This post is inaccurate. Subprime lenders graded on the middle score of the primary wage earner, and there are very few of those left. Fannie Mae (DU)and Freddie Mac's (LP) system take into account all the scores and do not weight them. Then you have the FHA scorecard, this is HUD's add on to DU and LP to help approve FHA loans, they don't take the middle score either, it is an aggregate of all factors weather one gets approved. These people would probably benefit from doing an FHA loan. Put all of them on the loan. Anything over a 620 with all the lenders is the same rate, so that won't be an issue. There is still one lender out there that has no "hits" to the rate if the borrower is over a 580. Yes, same rate for 581 as for 750 as long as the 581 is approved. This post is inaccurate.

Subprime lenders graded on the middle score of the primary wage earner, and there are very few of those left.

Fannie Mae (DU)and Freddie Mac’s (LP) system take into account all the scores and do not weight them. Then you have the FHA scorecard, this is HUD’s add on to DU and LP to help approve FHA loans, they don’t take the middle score either, it is an aggregate of all factors weather one gets approved.

These people would probably benefit from doing an FHA loan. Put all of them on the loan. Anything over a 620 with all the lenders is the same rate, so that won’t be an issue. There is still one lender out there that has no “hits” to the rate if the borrower is over a 580. Yes, same rate for 581 as for 750 as long as the 581 is approved.

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