Countrywide's New Rate Sheet

effenheimer_IHB

effenheimer_IHB

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<p>Holy Crapadoli!</p>



100% Full doc fixed now at 11.45% to 13.15% for FICO's 680 and 640.

Min 620 FICO for 95% Full Doc, was 580 last week.

Rates on 95% full doc <strong>start at 9.8%</strong> and go up from there.

Rates on 90% full doc <strong>start at 8.75%</strong> and go up from there.

90% stated and 85% stated: <strong>GONE.</strong> You now need 20% down to go stated.

Up until now, LTVs under 80% didn't reduce your rate all that much. Now, the sweet spot is 75%.

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Wow that was Friday and tomorrow/today will be different. Argent's rate sheet says "stated income not available in Southern California". The rates are about the same which is nasty. Anyone remember Volcker and the 80s? Are you having deja vu?
 
<p>For what it's worth...The link to one of the rate sheets is <a target="?" href="https://www.cwbc.com/PdfFiles/WLDBC%20CA.pdf">here</a>.</p>

<p>Although with those rates, I can't see them making any loans.</p>

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I like the SUMMER REFI SPECIAL.. . . it's like Countrywide's attempt to say: Look over here. . .pay no attention to at the man behind the curtains. . .





The rates are incredible. . .
 
<p>I recieved an email from Indymac implying they were doing 95% stated for ALT A.</p>

<p>I didn't know what to make of it, so I entered a quick pricer scenario.</p>

<p>It gave pricing - at $475,000 loan amount it was 9.125% on a 5/1 ARM with I/O, but where it normally shows "Met" it now shows "Not Checked". I really don't know if they will do this loan or not.</p>

<p>It does take a prepay to get that rate though.</p>

<p>That exact scenario, with a smaller loan amount ($380,000), results in a rate of 8.00%.</p>

<p>Considering there's no MI, nor a second here, the 8.00% is not horrible.</p>

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<p>Did I see those adjustments on the right column correctly? If you want a 30y fixed, it's +0.2% witha 3 year prepay penalty. And at the bottom, 1st liens with subordinate financing +1.0%.</p>

<p>Is a 30 year fixed 700+fico (first row - Platinum) 7.9% on a 80% LTV? If the loan is between 150K+ 550K it's -0.25% so a 500K loan with 'platinum' credit situation get's a 30 year fixed loan for 7.675%.</p>
 
<p>"Is a 30 year fixed 700+fico (first row - Platinum) 7.9% on a 80% LTV?"</p>

<p>I think that is for 5/25 ARM. But that's even worse, I would think a 30-yr fixed would be slightly higher under the same conditions.</p>
 
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