Home Buying in Chicago>Question Details

Nnabuenyi An…, Home Buyer in Chicago, IL

Can anyone recommend a good broker or loan officer that can close a 77,000 HUD FHA loan in 2-3 weeks?

Asked by Nnabuenyi Anigbogu, Chicago, IL Wed Jun 19, 2013

I already have Credit approval from my current bank and the FHA appraisal is good for another 2-3 months. Title commitment is good for at least 60 more days. I am looking to switch from my current lender because the are stalling in giving me collateral approval due to a HUD escrow attached to the property. The HUD PCR is not reflective of the escrow and they refuse to send out the appraiser to verify the reason for the repairs. Any help would be appreciated.

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11
My company is running 35 days on a purchase loan. We will also give a $1000 at closing should we fail to me the contract date. 614-458-1903- Chuck
0 votes Thank Flag Link Fri Jun 28, 2013
*meet
Flag Fri Jun 28, 2013
Albert Stepniak is really good, his ph#773-330-0552!
0 votes Thank Flag Link Sat Jun 22, 2013
Please feel free to give me a call.

Josh Marks
Cell:847.867.5998
Direct:773.303.0033
Jmarks@wintrustmortgage.com
JoshMarksMortgage.com
0 votes Thank Flag Link Thu Jun 20, 2013
Call Sam Sharpe, he is awesome and knows what he's doing! Call him if you haven't already, don't you be the one to stall...

Good luck!
0 votes Thank Flag Link Thu Jun 20, 2013
Try Sam from below - He may be able to push this through for you.
0 votes Thank Flag Link Thu Jun 20, 2013
Hello. You can call Joe Woods of Compass Mtg. with your question. Mr. Woods has been in the business closing FHA loans for over 25 years. He can be reached at 630-821-3522 (office)
630-362-3104 (cell) joe@compmort.com

Good luck
0 votes Thank Flag Link Thu Jun 20, 2013
Try calling Tony Lupescu with Fifth Third .708-351-6416.
0 votes Thank Flag Link Wed Jun 19, 2013
I am not sure who you spoke with but I can help you -
0 votes Thank Flag Link Wed Jun 19, 2013
I originally was talking to guaranteed rate but the loan officer i talked to said he couldn't go that low (77,000 property value with 20% down). Also i forgot to add that my loan is high DTI (aboout 55%). It passes DU underwriting though which is how i got the original credit approval so i need a lender that does not have overlays.

Thanks for the response.
0 votes Thank Flag Link Wed Jun 19, 2013
My question is why is the HUD PCR not reflective of what is required in repair escrow? That sounds like it my be a problem for any lender doing this loan. Are there other items needed to be done that HUD has not identified on their report? If so the appraisal report needs to be sent to HUD directly to address. Regarding the current lender not sending out an appraiser that is not normal, is the lender your working with not familiar with this process? If there are deficiencies that need to be addressed to make the property conform to current HUD and municipal specification and are not raised an inspection is required. Please feel free to email me any questions I'd be happy to help.
Jim Pontious
Mortgage Banker
PHH Home Loans
Jim.Pontious@phhonline.com
NMLS 201084
0 votes Thank Flag Link Wed Jun 19, 2013
Not to recommend myself - but I will
I am happy to help and I can close you quickly
Please feel free to reach out at your convenience
Sam Sharp
Senior VP of Mortgage Lending
Guaranteed Rate
773 290 0455
0 votes Thank Flag Link Wed Jun 19, 2013
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