divadend Posted January 2, 2008 Report Share Posted January 2, 2008 Re: sticky note on Fed recommendations on Fico scores for subprimeThat sticky was posted in May. Does anyone have an update on what the Feds landed on? Link to comment Share on other sites More sharing options...
liverichly Posted January 10, 2008 Report Share Posted January 10, 2008 Still think it's up for discussion... are you looking to refinance or purchase? If you are looking to purchase, you should definitely aim higher than sub-prime, I flat out refuse to give people sub-prime loans to purchase homes with unless it's a very unique situation. Link to comment Share on other sites More sharing options...
firstsource Posted January 11, 2008 Report Share Posted January 11, 2008 Great advice. If someone that has credit issues can not get approved for an FHA loan, then they should work towards getting "FHA APPROVABLE". Better of course to get a conventional/conforming loan and not have to pay the upfront fees, but terrible to have to pay 10%+ interest in these times.Charles Link to comment Share on other sites More sharing options...
amortgageman Posted January 17, 2008 Report Share Posted January 17, 2008 Re: sticky note on Fed recommendations on Fico scores for subprimeThat sticky was posted in May. Does anyone have an update on what the Feds landed on?I haven't had time to get back to that thread, but I can say that the Fed Funds rate will be cut again at the next meeting and the dollar will react overseas. Then when the dollar does not act favorable for international investors, they wil stop buying our debt instruments. But not to worry much, the hedge funds are looking to amend their losses from mortgages and will start buying treasuries in hopes of higher returns on bonds from falling interest rates. Link to comment Share on other sites More sharing options...
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