NationStar Mortgage aggressively doing sub-prime loans, better than Countrywide!

[Anonymous]

All this garbage out there with the recent sub-prime mortgage fallout has created one helluva of a "dust-up" in the mortgage industry. It's amazing what I've been hearing, especially from the biggest lender in the business, Countrywide Home Loans.

They've tried to kill off competitors by openly stating that "Countrywide is the only lender doing subprime loans right now... everyone else has stopped or has gone out of business"...

Bull-$#it.

I found a HUGE company, NationStar Mortgage, which used to be called Centex Home Equity. NationStar is aggressively writing new loans and refinance deals and they are being as creative as possible with their underwriting. They know this subprime situation is temporary and that the market conditions will correct themselves and improve, and they are not trying to screw or scare borrowers into signing predatory-type loans at outrageous rates.

Check them out on the web. I found them to be extremely professional and have committed to LEAVING Countrywide and refinancing my loan with NationStar in just a few days. We've already begun the process and I can't WAIT to tell Countrywide to GO TO HELL.

[Anonymous]

What is the credit score you would need to get it? I am trying to buy a house and a few months ago I had a 611, 551, 515. But now I am waiting on my rapid rescore to be finished. I should have alot of points now. I have added 3 credit cards. And paid off some of my debt. Plus got some - deleted off.

[Anonymous]

With your mid-score being a 551 right now, you're definately a candidate for NationStar. If it goes higher after your re-score, you'll be in even better shape. I think their minimum is 520. You need to call them and review your situation and see what they can do for you.

Here's their general number: 888-324-2432 (located in Phoenix time zone).

You can speak with any loan officer you want, but the guy that I'm working with is "Dakryn Richards" and he is very aggressive at working on your behalf. He's got more "fire in the belly" about helping sub-prime borrowers than anyone I've ever seen.

NationStar is no "2nd tier" or "no-name" lender... they're the mortgage people for Centex, one of the largest builders in the country and they're headquartered in Dallas with a call center in Phoenix, not India like Countrywide. In my opinion, they're really good people. Countrywide has gotten so big and they've hired so many bottom-feeder type call center reps PLUS they answer a lot of their calls in India. They're a real mess right now and something tells me they might fall apart and either close or layoff a HUGE number of employees during all this "mortgage mess" in the country right now.

Message Edited by CreditHawk on 08-15-2007 05:58 AM

[Anonymous]

I just got my credit report today and they have deleted 8 inquires off of my report and that should help alot. I need to get this mortg. soon. I need it for the 2nd week of Sept. so I can close on this house. I need to move off of this house I am in right now. What kind of interest rates is it for me?

[Anonymous]

How did you get the inquiries removed from your credit reports?

[Anonymous]

Did everything go as planned with NationStar?  We are needing to refi in the next couple of months and have some credit challenges.  Our scores may be in the mid 5's.  Were they able to work with you?

[Anonymous]

My loan app is proceeding as we speak. I'm gathering the final bit of documents to send in. They work closely with their underwriters to get the best deal and to get it done quickly. As I understand it, a refinance can be done quicker than a purchase so you should be just fine.

But the first step is calling them and letting them run your scores to see where you need to start. I was hesitant to do that but now that I did, I'm sure glad. We're moving forward fairly quickly.

Good luck with NationStar and let us all know how you do.

[Anonymous]

I called the credit companies and disputed them because they were made on my credit report as fraud. Then it took them 6 days to remove them. Let me know if you can do yours.

[Anonymous]

OK, Teresa, so what are your three scores now? You should see some improvement... let's see where you are.

[Anonymous]

My lender is still rescoring me. It is not finished yet. So I will call her tomorrow and see where I am now. I hope for good news. I need to close on this home no later than the 2nd week of Sept. Did you get your's done? What is your scores? And today I got some more inquires deleted off my other credit reports. I wished I can get the paid collection accounts deleted off. But only 2 got deleted and the rest will stay for 2 more years.