wmerkle at lespfcu.org
05-03-2006, 06:26 AM
Hi all,
We're considering two mortgage loans which we believe are "non-conforming." We believe they are non-conforming because they exceed FNMA's maximum amount for 2 family properties…
In connection with such:
Can anyone confirm or deny that this in itself would cause them to be considered non-conforming, and
If at some point in the future will they become saleable, say after a year's worth of prompt payments?
Thanks in advance!
Walter Merkle
------------------------
Walter J. Merkle
Chief Lending Officer
Lower East Side Peoples FCU
37 Avenue B (at 3rd Street)
New York, NY 10009
212-529-8197 x32 (voice)
212-529 8368 (fax)
wmerkle@lespfcu.org (email)
This post transferred from the cdb-l mailing list
We're considering two mortgage loans which we believe are "non-conforming." We believe they are non-conforming because they exceed FNMA's maximum amount for 2 family properties…
In connection with such:
Can anyone confirm or deny that this in itself would cause them to be considered non-conforming, and
If at some point in the future will they become saleable, say after a year's worth of prompt payments?
Thanks in advance!
Walter Merkle
------------------------
Walter J. Merkle
Chief Lending Officer
Lower East Side Peoples FCU
37 Avenue B (at 3rd Street)
New York, NY 10009
212-529-8197 x32 (voice)
212-529 8368 (fax)
wmerkle@lespfcu.org (email)
This post transferred from the cdb-l mailing list