09/07/2007
Bottom line. If your credit score is between 500 and 619 you better be prepared to put down at least 10% if not 20%.
Indy Mac just announced that they are no longer underwriting subprime loans. Saxon, part of Morgan Stanley, is capped at 80% max LTV, and rates start in the double digits.
Prime borrowers are fine. The DU Flex 100 loan is still available with LP or DU approval.
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