Financial Update by Maurice Soussé

I hope you have a great weekend planned. You will notice on the attached rate sheets we have had no overall movement. We have had a few small bumps and drops, but the end of the week results have been flat now for 3 weeks. I invite to you take a look at the 15 year fixed rates and the jumbo interest only arms. They are quite low and we have had several requests for these types of loans this week.

A big deal is the re-introduction of “alt doc” loans from a great partner of ours. If you have a self-employed borrower, we can take the last 12 months bank statements and use a formula on the gross deposits for income. No tax returns needed. The minimum down payment is 30% and the minimum FICO score is 720. This a great way to get our self-employed borrowers into a great house and loan.

There will be no rates next week due to the holiday so I want to take a moment to wish you and your family a very blessed Thanksgiving.

Rates, 111712, The Sousse Group