February 21st, 2012 3:06 PM by Eric Fang
I closed 5 loans this morning. But indeed I tried hard andall get them done.
Among the 5 loans, 4 of them from the lender ProvidentFunding, and all the rates expire today, and the lenderdid not review the funding until Friday and Monday.I had to get all prepared over the weekend, includingthe VOE and escrow assets. But I am glad that those loansclosed, especially with very good rate, 3.75% for high-balanceloans(2 of them; other 2 loans with 3.875%).
And we closed another loan with citi mortgage, who will exitthe wholesale market soon. I have one loan left after morning'sclose. With AE's help, I can get the loan approved this morning, signed the loan docs this morning and funded theloan this morning. If citi can work all the loans like thisone, they can stay at the market, and the stock performance would be better.
I feel much better after those loans funded. Especially we might not be able to get the rate f 3.75% for high-balanceloans any more.