EDU Mortgage EDU

conflayz

Banned
May 31, 2018
8,158
dirtydirtysouth
Can I get filled in? I feel bad for people losing their jobs, and yeah it sucks that a company needs to lay people off because they gre too big too fast... but why is this the end of the world?

I mean.. calling some employees dumb dolphins is crazy funny, but some people are really dumb af.
 

Remy Bressant

40 big girls and a bottle
OT Supporter
Jul 24, 2015
30,662
SoCal
Can I get filled in? I feel bad for people losing their jobs, and yeah it sucks that a company needs to lay people off because they gre too big too fast... but why is this the end of the world?

I mean.. calling some employees dumb dolphins is crazy funny, but some people are really dumb af.
Company that grew mainly because of a crazy refi-boom is cutting staff to make their P&L look more enticing as they prepare to go public.
 
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saabguy

saabguy

Saab-free since 2013. Mortgage guru
OT Supporter
Aug 11, 2003
22,467
Loserville. Population: 1
Company that grew mainly because of a crazy refi-boom is cutting staff to make their P&L look more enticing as they prepare to go public.
Also they posted some quarterly results and it appears they were losing money…during a refi boom. So sounds like all the awesome rates they were offering were at a loss to pump up their funding volume and build their client base, then likely gradually raising rates and cutting payroll/expenses before going public.
 
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saabguy

saabguy

Saab-free since 2013. Mortgage guru
OT Supporter
Aug 11, 2003
22,467
Loserville. Population: 1
Can I get filled in? I feel bad for people losing their jobs, and yeah it sucks that a company needs to lay people off because they gre too big too fast... but why is this the end of the world?

I mean.. calling some employees dumb dolphins is crazy funny, but some people are really dumb af.
He also told a former business partner he would duct tape him to the wall and burn him alive :rofl:
 
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Menger

OT Supporter
Nov 23, 2011
24,162
Also they posted some quarterly results and it appears they were losing money…during a refi boom. So sounds like all the awesome rates they were offering were at a loss to pump up their funding volume and build their client base, then likely gradually raising rates and cutting payroll/expenses before going public.
All of the young tech companies lose money while shoveling it to their marketing department of pinheads.
 

conflayz

Banned
May 31, 2018
8,158
dirtydirtysouth
@saabguy

I would like to buy another* investment property soonish / eventually.

Will I be able to with my income? Like would I even get approved for a martgage? Will I need more than 20% down? How does it work?
 

Remy Bressant

40 big girls and a bottle
OT Supporter
Jul 24, 2015
30,662
SoCal
HOW.DOES.IT.WORK.FOR.A.POOR.LIKE.ME
Get 20% down and the projected rent income counts towards your ratios.

Basically just get 20% down and have a good a credit score.

Last I checked FNMA let’s you have up to 20 of these but the banks limit you to 10 in their overlays.
Last time I did This was 5 years ago, though. May have changed.
 
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saabguy

saabguy

Saab-free since 2013. Mortgage guru
OT Supporter
Aug 11, 2003
22,467
Loserville. Population: 1
Also, @saabguy I overpaid at my closing by $26.86. Carl said they (the title company) would send me a check. I still havent received anything. Who should I complain to about that?
Your refund was issued in the form of a giant RPBC.







Did they leave you with contact info from the title company with your closing docs?
 

conflayz

Banned
May 31, 2018
8,158
dirtydirtysouth
Get 20% down and the projected rent income counts towards your ratios.

Basically just get 20% down and have a good a credit score.

Last I checked FNMA let’s you have up to 20 of these but the banks limit you to 10 in their overlays.
Last time I did This was 5 years ago, though. May have changed.
There are no other rules? How would I show projected rent income? Would that be something my mortgage person could produce?
 

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