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Does anybody know of any California lenders who will refinance under HARP 2.0 with LPMI?

I have been denied by BofA (my current lender) as they will not accept loans with LPMI. I am now shopping around other banks. The only one I've found so far who will work with LPMI is Quicken Loans. Does anybody know of any others? My current Loan-to-Value ratio is <125%.
  • April 10 2012 - San Clemente
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Answers (6)

The only thing you should be ready for is a long wait. Many of the lenders performing these loans are really backed up. With that being said we have access to 3 wholesale channels that will allow for transferred LPMI. The main problem is they are some of the only lenders doing it, so the turn times are horrible. If you would like more information I can point you in the right direction.
  • August 07 2012
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  • August 07 2012
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Great advice already in this thread. Among the lenders already mentioned there are wide variances in available pricing. There are now several lenders that can work with LPMI transfers in Harp 2.0 and you Loan to Value and initial finding (waiver or no waiver for appraisal) play a big part in which source will be best to ensure favorable terms. Feel free to contact me through my profile if you would like a closer look at your options. I originate only in California.
  • April 10 2012
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I am doing one of these right now. Brokering the loan to CMG.   They will accept it as lonf as the MI company transfers to the new loan.
  • April 10 2012
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Profile picture for CA Direct Lending
As long as the original MI premium was paid in full up front by the first lender, and MI is with MGIC, Radian or Genworth, they will transfer the cert number that shows on the DU approve/eligible.  There are a few wholesale lenders who can do this for you.  I'm not sure what the retail lenders are doing.  

I've looked at online reviews of Quicken Loans.  I, personally, would use them as my last resort.
  • April 10 2012
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Profile picture for Brian GFL Capital
Quicken is the main one that I use, but i know that PMAC will also also do LPMI along with a couple other lenders that i cant think of off the top of my head.

let me know if you want me to look into it further for you. i mainly use Quicken for LPMI loans
  • April 10 2012
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