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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Citimortgage Getting Aggressive Again Posted by JK (the other JK) on April 18, 2008 at 3:31 PM In Reply to: Citimortgage Getting Aggressive Again posted by CC in OC on April 16, 2008 at 12:27 AM : This just in from my rep: : NO SEASONING FOR TIME ON TITLE : CitiMortgage will allow a refinance transaction, USING A NEW VALUE, : immediately after closing on a purchase transaction. : Or add a qualified individual to title on any loan amount up to : $3,000,000.00- : * Primary Residence, Second Homes or NOO : * Rate and Term or Cash Out Refinances allowed : * Allowed with Full or STATED Documentation (Prime loans only) : * Consumer must be on Title prior to originating the application. : (When transferring the title to new borrower, loan will be considered : cash out) : Note: : 1. Land Contracts still require a 90 day seasoning, from time of : application : 2. Expanded Lending (non prime loans) require 12 months seasoning : on title : 3. Recently listed properties must be off the market for 90 days : from the date of the application! Rate and term as well as cash out! : Citi offers 3 STATED processes: : Alt A Agency SIVA and SISA as well as our Jumbo Asset Based process : NOTE: ONLY ONE PMI COMPANY IS INSURING STATED LOANS (self employed only) : NOW! SO, : IF YOU HAVE A STATED LOAN OVER 80%, GET IT IN NOW. : Remember, CITI offers you everything from : * A (prime) - Expanded (non Prime Loan Programs with FICO as low : as 590) : * SIVA, SISA programs : * 40 yr amortization : * Interest Only : * Loan amounts to $8M : * SIVA to $3M : * QPP Bonus Pricing of .25 better in fee on all loans : * CRA incentives paid up to 1 point depending on the transaction : * One low fee: Govie: $350. Expanded: $500 Prime Loans: $780 : * Close loan in a Trust Well I guess when you take $14.1 Billion dollars in writedowns this quarter, fire 9,000 people and your stock rallies you come to the conclusion that you might as well do the riskiest loans on the street. Worse case scenario, you end up with a another government bailout. Co Citi Go: http://biz.yahoo.com/ap/080418/earns_citigroup.html BTW, Downey S&L cut ALL SIVA programs yesterday. Follow Ups: Re: Citimortgage Getting Aggressive Again CaliJoe 10:17 AM, 04/21/08 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : This just in from my rep: : : NO SEASONING FOR TIME ON TITLE : : CitiMortgage will allow a refinance transaction, USING A NEW VALUE, : : immediately after closing on a purchase transaction. : : Or add a qualified individual to title on any loan amount up to : : $3,000,000.00- : : * Primary Residence, Second Homes or NOO : : * Rate and Term or Cash Out Refinances allowed : : * Allowed with Full or STATED Documentation (Prime loans only) : : * Consumer must be on Title prior to originating the application. : : (When transferring the title to new borrower, loan will be considered : : cash out) : : Note: : : 1. Land Contracts still require a 90 day seasoning, from time of : : application : : 2. Expanded Lending (non prime loans) require 12 months seasoning : : on title : : 3. Recently listed properties must be off the market for 90 days : : from the date of the application! Rate and term as well as cash out! : : Citi offers 3 STATED processes: : : Alt A Agency SIVA and SISA as well as our Jumbo Asset Based process : : NOTE: ONLY ONE PMI COMPANY IS INSURING STATED LOANS (self employed only) : : NOW! SO, : : IF YOU HAVE A STATED LOAN OVER 80%, GET IT IN NOW. : : Remember, CITI offers you everything from : : * A (prime) - Expanded (non Prime Loan Programs with FICO as low : : as 590) : : * SIVA, SISA programs : : * 40 yr amortization : : * Interest Only : : * Loan amounts to $8M : : * SIVA to $3M : : * QPP Bonus Pricing of .25 better in fee on all loans : : * CRA incentives paid up to 1 point depending on the transaction : : * One low fee: Govie: $350. Expanded: $500 Prime Loans: $780 : : * Close loan in a Trust : Well I guess when you take $14.1 Billion dollars in writedowns this quarter, fire 9,000 people and your stock rallies you come to the conclusion that you might as well do the riskiest loans on the street. Worse case scenario, you end up with a another government bailout. Co Citi Go: : http://biz.yahoo.com/ap/080418/earns_citigroup.html : BTW, Downey S&L cut ALL SIVA programs yesterday. [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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