Comments on: “No Bid”? First Magnus suspends locking of jumbo mortgage products http://blownmortgage.com/2007/08/02/no-bid-first-magnus-suspends-locking-of-jumbo-mortgage-products/ #1 Free Home Loan Modification & Debt Relief Help For US Home Owners - Truths, Facts & News About the Mortgage Industry Sat, 21 Nov 2009 12:13:18 -0700 http://wordpress.org/?v=2.8.3 hourly 1 By: tess http://blownmortgage.com/2007/08/02/no-bid-first-magnus-suspends-locking-of-jumbo-mortgage-products/comment-page-1/#comment-2130 tess Mon, 13 Aug 2007 16:05:03 +0000 http://blownmortgage.com/2007/08/02/no-bid-first-magnus-suspends-locking-of-jumbo-mortgage-products/#comment-2130 First Magnus is a privately owned company. They have had announcement for weeks. Just like all the other lenders out there! NO more OUT of THE BOX Fundings. It is the secondary market that dictates the rules. since First Magnus does not have to worry about their notes being called due. Most likely they will be just fine. Same with Tayler Bean. They are also a Private Bank. We will see. First Magnus is a privately owned company.
They have had announcement for weeks.
Just like all the other lenders out there!
NO more OUT of THE BOX Fundings.
It is the secondary market that dictates the rules.
since First Magnus does not have to worry about their notes being called due. Most likely they will be just fine.

Same with Tayler Bean. They are also a Private Bank.

We will see.

]]> By: Markus Arelius http://blownmortgage.com/2007/08/02/no-bid-first-magnus-suspends-locking-of-jumbo-mortgage-products/comment-page-1/#comment-890 Markus Arelius Fri, 03 Aug 2007 23:43:25 +0000 http://blownmortgage.com/2007/08/02/no-bid-first-magnus-suspends-locking-of-jumbo-mortgage-products/#comment-890 Wow! No mo jumbo. If you're making median gross income in OC, how do you now qualify for to buy a $700,000 assuming you have $50K in the bank of cash ready for down payment and a great credit score? Is the answer is "you don't", then with all of these single family homes in OC (Lake Forest, Mission Viejo, Laguna Niguel and Irvine) priced out at $650K to $750K, what income and down payment do you need? And finally, do a lot of people living and working here still qualify? Wow! No mo jumbo.

If you’re making median gross income in OC, how do you now qualify for to buy a $700,000 assuming you have $50K in the bank of cash ready for down payment and a great credit score?

Is the answer is “you don’t”, then with all of these single family homes in OC (Lake Forest, Mission Viejo, Laguna Niguel and Irvine) priced out at $650K to $750K, what income and down payment do you need?

And finally, do a lot of people living and working here still qualify?

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