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Jay McGovern's Advice

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  • 90 Contributions
  • 0 Best Answers
  • 14 Helpful

Jay McGovern wrote:

Any lenders out there using (or used to use) Optimal Blue to auto-quote on Zillow?

Response
I use optimal blue for my pricing engine, but I think to integrate it with loansifter it runs about $400 a month for unlimited quoting, which is way to steep for me.  I just update my rates from one lender, have all the adjustments built in, and have my auto-quotes go out that way.  I'd give you the name, but I think the Zillow powers that be would call that a solicitation.
June 07 2011
(0)

can anybody qualify for a modification regardless of their credit?

Answer
If it's a HAMP Mod, i don't think they take credit into account.  They will take your income and debts into account.
May 20 2011
(0)

IRS Lien

Answer
As my five year old would say, OMG.  The lien is for a million and they are paying via social security check deductions.  Are they paying like $400 a month on the million?
May 10 2011
(0)

IRS Lien

Answer
Steve,I don't know of any that would lend right now with a small lien that is being repaid.  I could be wrong, but I believe if the IRS attaches a lien to the property it will be given first position and would in your case probably push the ltv over 100%.
May 10 2011
(0)

What can I do to get more (or better) quotes for my loan request ZR-TDJGSQG

Answer
You have 44 quotes, how many are you looking for or are you looking for a specific rate?
April 18 2011
(0)

NEW: Zillow Mortgage Marketplace(ZMM) Mystery Shopping program

Response
Norm,I was under the impression that even if you were doing a no closing cost loan and paying all the borrowers fees (not just lender fees) you still had to put an appraisal in the lender fees.  I would like to see you be able to actually put a negative amount in the lender fees if you were giving the borrower an additional credit beyond what the lender fees are going to be.
April 12 2011
(0)

How many remaining monthly loan payments to were it will no longer be considered dept to income

Answer
It's usually 10 or fewer payments if it's an installment loan before it won't be counted in your debt to income.
March 10 2011
(0)

Zillow Leads Cost me a Sale this past year.

Response
I'm baffled by the difference in the title and the post.
March 02 2011
(2)

Is there any way around the 2 year average rule for FHA approval? 2010 earnings were way up

Answer
Make sure you're having someone look at your returns and not just your adjusted gross income.  There could be certain depreciation in both 09 and 10 that could be added back into your income that may help you out depending on how bad 2009 was.
February 22 2011
(0)