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Mortgage Creative Writing Challenge: I can get anyone approved! 100% financing stated w/600 score

Mortgage Broker's Office June of 2005: 

So you say that you want to buy a house & you have no money to work with?

NO PROBLEM!! We have stated income loans up to 100% financing with a 6% seller assist!

You are recently self employed? 

NO PROBLEM!! As long as you have more than 2 years on the job, we CAN HELP!!

You want to buy a home for $300,000 but can only afford a payment of $1,200 per month?

NO PROBLEM!! We can give you a pay option ARM that has a minimum payment of 1%. 

You want to buy a 3 unit investment property & we can't verify your income or assets, you have fixed income & you want 100% financing with a 6% seller assist?

NO PROBLEM!! Not only do we have a program but we'll also give you a rate in the high 7's WITHOUT mortgage insurance. And if you would like to buy more than one, we have several lenders that offer this program. 

So you can't verify your income, your assets, your job, you want to buy a $400,000 home with no mortgage insurance, you don't want to escrow, you have 5% but you want the seller to pay for all of your closing costs & you don't want to do a full appraisal because there are possibly some issues with the interior of the property but the exterior is fine?

NO PROBLEM AT ALL!!! We can finance you today!!

You want creativity? We don't need to be creative at all! The gurus at all of the subprime mortgage lenders are more creative than any of us!! Everyone who reads this blog don't think for one second that what I was saying here was a joke.  It's not!  It is however the mortgage business prior to December of 2006.  How could this have happened is the question that many people continue to ask. Or why are things so horrible in the mortgage industry right now. My reply is always how could it not have happened. Creativity is not needed. Realty is! 

Joe Gonzalez
Branch Manager
1st Metropolitan Mortgage - In Jason's backyard!

For help or questions contact:

Joe Gonzalez

Senior Loan Consultant -  NMLS #126036
GMH Mortgage Services, LLC
625 W. Ridge Pike, Building C, Suite 100 | Conshohocken, PA  19428 | Direct: 610-355-8039 |  Cell: 610-739-6563

FHA Jumbo Loan, Mortgage King Of Prussia   FHA Jumbo Loan, Mortgage King Of Prussia   FHA Jumbo Loan, Mortgage King Of Prussia

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Comment balloon 8 commentsJoe Gonzalez • March 28 2008 11:55PM
Mortgage Creative Writing Challenge: I can get anyone approved! 100%…
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Mortgage Broker's Office June of 2005: So you say that you want to buy a house & you have no money to work with? NO PROBLEM!! We have stated income loans up to 100% financing with a 6% seller assist! You are recently self employed? NO PROBLEM… more
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Joe Gonzalez Branch Manager 1st Metropolitan Mortgage Phone: 610-351-7510 Fax: 610-351-7810 jgonzalez@1stmetro. net http://www. joegonzalez. net/ ON-Time Take Time Out for Planning Have you ever had days, weeks, or even months go by when you were… more