Home : North Carolina : Buncombe County : Asheville : Melissa Kramer

Name:	Melissa Kramer (2 Associations)
Company:	Wamu/LongBeach

Email:	Contact Melissa Kramer
Website URL:	http://www.longbeachmortgage.com

Office Phone:	(704) 541-8726
Cell Phone:	(360) 305-0770
Alt. Phone:	(360) 305-0770
Fax Number:	(651) 305-0775
Description:	I'm in Asheville once a week. Call me - I'll come see you, help you place your loan, and make you some money! You can always email me or fax me a prequal or your full package! See you Soon!

Picture of Account Exec: Melissa Kramer (Wamu/LongBeach)

2051 Points

About Us:

Long Beach Mortgage is among the nation's top 10 wholesale subprime lenders, having originated nearly $30 billion in mortgage loans in 2005. We strive to be a leader in the subprime mortgage industry by maintaining high standards of responsible lending and by consistently delivering products on fair and affordable terms. Washington Mutual, which purchased Long Beach Mortgage in 1999, is committed to growing Long Beach Mortgage as part of its mission to serve the broad middle market.

Areas of Expertise

Why it's Better at the Beach

We lend in 49 states and the District of Columbia offering:

· Competitive pricing

· Local market knowledge

· Timely decision making

· Low $899 lender fees

• Use of credit scores, LTV, and mortgage history as driver of price

We deliver:

· Streamlined transactions

· Speed of decision

· Efficiency

• Convenience

Loan Programs

GENERAL

•   JUMBO LOANS up to $1.3 MILLION!!!
•   Aggressive Jumbo lender - One appraisal - STATED up to 1 million
•   40 Year - 3/37, 5/35, fixed 40 on full & stated - OO, NOO &2^nd homes
•   40/40 YEAR PRODUCT AVAILABLE starting at 550 Score!!!
•   40/30 YEAR PRODUCT AVAILABLE starting at 500 Score!!!
•   Interest Only products start at 600 full 660 stated
•   12 Months bank statements = FULL doc - business or personal !!
•   6 Months bank statements equals limited doc - no ltv restriction
•   90% LTV with 600 score - Cash out allowed - Full doc
•   90% LTV STATED with 620 score - Cash out allowed
•   NO MI, NO RESERVE REQUIREMENTS
•   Min score for NOO 600.
•   Count 90% of lease income
•   No limitation to the number of properties borrower owns
•   We can make up to 3 loans to one borrower!
•   660 Score required for NOO purchases max ltv 80%
BK 13 - use FILING date (A+24/36 mos 95%/24 mos 90%/18 mos 85%)

• Owner Occupied Refinance

•   95% 80/15 Starting at 620 mid score
•   95% One loan at 580
•   95% STATED WAGE EARNER starting at 640 mid score
•   90% Starting at 560 score
•   85% Starting at 520 score
•   80% Starting at 500 score
•   80% STATED starting at 500 mid score self employed
•   90% STATED WAGE EARNER mid score 600
•   6 Month Seasoning, BK buyouts and CCC plans acceptable
• ONE SCORE 500 or better, Co-bor - NO score or < 500 -OK!
•   15 Acres allowed, Escrow holdbacks allowed for repairs
•   Do not have to payoff collections - Use 3% balance for DTI
Owner Occupied Purchase
•   95% 80/15 starting at 600 mid score
•   95% one loan starting at 580
•   95% Starting at 580
•   90% Starting at 560
•   80% Starting at 500 score
•   95% Stated 80/15 starting at 640
    First Time Home Buyers
•   550 - 599 max 90 LTV / 90 CLTV
•   600+ max 95 LTV/CLTV 640 for stated self employed
•   No source/seasoning of funds
• Private party VOR no checks starting at 550 score
Investment Property •   90% LTV with 600 score - Cash out allowed - Full doc
•   90% LTV STATED with 620 score - Cash out allowed
•   NO MI, NO RESERVE REQUIREMENTS
•   Min score for NOO 600.
•   Count 90% of lease income
•   No limitation to the number of properties borrower owns
•   We can make up to 3 loans to one borrower!
•   660 Score required for NOO purchases max ltv 80%