Hi Everyone, another interesting piece I found, it's this Banks underwriting guidelines, it's only 1 page and it will open up your Acrobat reader. it shows what credit score is needed for different types of loans, it's in a chart format and it's real easy to read. I think this is what they give out to mortgage brokers. Loans for people with a minimum of a 520 FICO, that nice to know. Any comments? www.newcentury.com/pdf/fulldoc.pdf * Rob *
Thanks for the info. If all lenders would do something like that, it would be nice. At least I wouldn't waste my time contacting a broker/lender whose products I knew up front that I would not qualify for. I know...these things a generally an ancient trade secret no one is allowed to know about.
Your right, why do they keep them a secret? I mean you really have to dig around and find anyones underwriting guidlines, why not show it? do they think it is bad for us to see underwriting guidlines, I mean give me a break, does everything have to be a BIG secret when it comes to credit related matters. but, what is good about these ones is the date is updated at 6/01/01. * Rob *
