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First franklin Subprime Wholesale Rate Sheet - July 10 2006
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First franklin Subprime Wholesale Rate Sheet - July 10 2006
1.
FIRST MORTGAGE ARM
WHOLESALE RATE SHEET SECOND MORTGAGE COMBO PROGRAMS 2 YR. FIXED / 2 YR. PRE-PAY ( 3/1/6% CAPS) (FULL AMORT/BALLOON) FULL DOC 2:1 up to 1.50 Credit PERIOD FEE UP FRONT FEE Credit 80% 1st Score 100-95.01 95-90.01 90-85.01 85-80.01 80-75.01 75-70.01 70-65.01 <65 60 Day Lock 0.50 0.50 Score Lien* 100% CLTV 95% CLTV 90% CLTV 85 % CLTV < 80% CLTV >700 7.75 7.25 7.25 7.00 6.50 6.40 6.25 6.15 90 Day Lock 1.00 1.00 >700 6.65 9.20 8.45 8.20 7.95 7.60 680-699 8.00 7.50 7.40 7.15 6.65 6.65 6.50 6.40 180 Day Lock 2.50 1.00 680-699 6.80 9.60 8.85 8.60 8.35 8.10 660-679 8.10 7.75 7.50 7.25 6.75 6.75 6.75 6.65 660-679 6.90 10.10 9.35 9.10 8.85 8.60 640-659 8.35 7.90 7.75 7.50 7.00 7.00 6.90 6.75 640-659 7.15 10.85 10.10 9.85 9.60 8.95 630-639 9.00 8.25 8.00 7.75 7.25 7.25 7.10 7.00 620-639 7.40 11.45 10.70 10.45 10.20 9.60 620-629 9.00 8.25 8.00 7.75 7.25 7.25 7.15 7.00 30 Day Lock 0.00 600-619 7.50 11.95 11.20 10.70 10.35 9.70 610-619 9.25 8.50 8.15 7.90 7.35 7.35 7.25 7.15 45 Day Lock (add to rate) 0.15 600-609 9.25 8.50 8.15 7.90 7.35 7.35 7.25 7.15 590-599 10.25 8.50 8.25 8.00 7.60 7.50 7.40 7.25 580-589 10.50 8.65 8.65 8.00 7.65 7.65 7.50 7.40 6 Mo. 1/29 & 2/28 3/27 5/25 NIV 570-579 8.75 8.00 7.65 7.65 7.50 7.40 3 Yr Prepay (0.35) (0.35) 0.00 0.00 Credit 80% 1st 560-569 9.00 8.15 7.90 7.75 7.65 7.50 2 Yr Prepay 0.00 0.00 0.35 0.35 Score Lien* 100% CLTV 95% CLTV 90% CLTV 85% CLTV < 80% CLTV 550-559 8.75 8.50 8.25 8.00 7.90 1 Yr Prepay 0.65 0.65 0.65 0.65 >700 7.30 9.45 8.70 8.45 8.20 7.85 540-549 8.90 8.50 8.25 8.00 7.90 0 Yr Prepay 1.00 1.00 1.00 1.00 680-699 7.40 9.85 9.10 8.85 8.60 8.35 MARGIN 6.40 6.40 5.90 5.90 5.40 5.40 5.40 5.40 660-679 7.55 10.60 9.85 9.60 9.35 9.10 640-659 7.75 11.35 10.60 10.35 10.10 9.45 1:1 from 1.55 to 2.00 YSP 2:1 BUYDOWN your local Account Executive.) Lock Period (MAX = 0.75 IN RATE) PREPAYMENT PENALTY Max YSP = 2.00% BUYDOWNS ADJUSTMENTS TO RATE 6 Mo Libor (5511) (1/1/6% CAPS)(*adjust rate & margin) (0.50)* RAPID PURCHASE / RAPID REFI Blended Rate 80/20* 7.16 7.89 8.39 80/20* 7.73 8.16 8.47 Credit 1 Yr Fixed (5515) (2/1/6% CAPS) (0.25) Score 100-95.01 95-90.01 90-85.01 85-80.01 80-75.01 75-70.01 70-65.01 <65 3 Yr Fixed (5514) 0.00 >700 8.25 7.75 7.75 7.50 7.00 6.85 6.75 6.65 5 Yr Fixed (5519) 0.35 All loans must be funded at PAR or at a discount. 680-699 8.50 8.00 7.85 7.65 7.15 7.15 7.00 6.90 103% LTV 0.25 FULL DOC MINIMUM CREDIT SCORE =600 Buydowns = 3:1 660-679 8.75 8.40 8.10 7.90 7.35 7.35 7.35 7.25 Best Score (Add does not apply to NIV) 0.25 NIV DOC MINIMUM CREDIT SCORE = 640 Maximum Discount = 1.00% in rate. 640-659 9.00 8.50 8.40 8.10 7.60 7.60 7.50 7.40 Products BALLOON FINANCING AVAILABLE TO 100% cltv Yield Spread Premium is not available. 630-639 9.60 8.85 8.65 8.40 7.90 7.90 7.75 7.65 Fico >660 Fico 600-659 Fico <600 (use code 5521 for balloon product) 620-629 9.60 8.85 8.65 8.40 7.90 7.90 7.75 7.65 40 yr Amort. (I/O N/A) 0.10 0.10 0.20 1 Yr Prepay 0.25 610-619 10.00 9.25 8.90 8.65 8.10 8.10 8.00 7.90 50 yr Amort. (I/O N/A) 0.20 0.25 0.35 Combo's only, no stand-alone 2nds. 0 Yr Prepay 0.55 600-609 10.00 9.25 8.90 8.65 8.10 8.10 8.00 7.90 Interest Only 0.25 0.50 0.75 Minimum loan amount: $10,000. 590-599 9.00 8.75 8.35 8.25 8.15 8.00 Doc Type N/O/O or 2nd Homes not eligible for subordinate financing. LIV 0.50 580-589 9.40 8.75 8.40 8.40 8.25 8.15 NIV Wage Earner 0.25 Rural Properties not eligible for subordinate financing. 12 month bank statements 600-639 0.25 570-579 9.50 8.75 8.40 8.40 8.25 8.15 LIV 0.25 560-569 9.75 8.90 8.65 8.50 8.40 8.25 Stated Plus/Blended Access 0.65 ~If first mortgage is 30 year amort., use 30/20 or 30/15 or 30/10 FOR DTI < 45.49% > 640 -0.50 550-559 9.50 9.25 9.00 8.75 8.65 ~If first mortgage is 30/15 balloon, use 30/10 only 600-639 -1.00 540-549 9.65 9.25 9.00 8.75 8.65 Refi & LTV > 95% or CLTV > 95% (excludes Rapid Refi) 0.50 MARGIN 6.40 6.40 5.90 5.90 5.40 5.40 5.40 5.40 Combo & CLTV > 90% 0.15 Occupancy N/O/O or 2nd Home & LTV < 80% 0.25 Credit N/O/O or 2nd Home & LTV > 80% 0.50 Score 100-95.01 95-90.01 90-85.01 85-80.01 80-75.01 75-70.01 70-65.01 <65 >700 8.40 7.90 7.90 7.65 7.15 7.00 6.90 6.75 Condo* 0.25 680-699 8.65 8.15 8.00 7.75 7.25 7.25 7.15 7.00 660-679 8.75 8.40 8.15 7.90 7.40 7.40 7.35 7.25 3-4 Units 0.25 640-659 9.00 8.50 8.40 8.15 7.60 7.60 7.50 7.40 630-639 9.00 8.75 8.25 8.25 8.15 8.00 < $80K* 0.25 620-629 9.00 8.75 8.25 8.25 8.15 8.00 610-619 9.15 8.90 8.40 8.40 8.25 8.15 > $1.2M - $1.35M 0.35 600-609 9.15 8.90 8.40 8.40 8.25 8.15 > $1.35M* 0.75 590-599 8.65 8.50 8.40 8.25 *Restrictions apply. Please contact your local Account Executive. 580-589 8.65 8.65 8.50 8.40 Other 570-579 8.65 8.50 8.40 Bankruptcy/Foreclosure <12 mnth. Seasoning 0.25 560-569 8.75 8.65 8.50 550-559 540-549 MARGIN 6.40 6.40 5.90 5.90 5.40 5.40 5.40 5.40 2ND MTG RATE ADD-ON ONLY BUYDOWNS PREPAYMENT PENALTY BUYDOWN EasyWriter Special * 0 PREPAY LOANS NOT ELIGIBLE FOR YSP DTI SPECIAL (Not available for NIV) JULY PURCHASE SPECIAL (-.50) RATE REDUCTION BRANCH CONTACT INFORMATION Bay Area Wholesale RATE ADD-ON 900 E. Hamilton Ave, Suite #350, Campbell, CA 95008 Toll Free (800) 464-9425 Property Type *First Time Home Buyer Special; No add < $80K *100% COMBO HELOC AVAILABLE FOR FULL DOC & LIV. Loan Amt *IF YOU ARE NOT AN EASYWRITER CUSTOMER, SEE YOUR AE FOR DETAILS **Special will be applied by FF underwriter** **(Cannot be combined with First Time Home Buyer Special) *First Time Home Buyer Special; No add for Condo (- 0.15) OFF IN RATE OR <.30> YSP* Loan Purpose FILE MUST BE SUBMITTED USING EASYWRITER AVAILABLE FOR ALL DOC TYPES EXTENDED LOCK LTV RANGES Prepayment Penalty (No YSP Pricing on No Prepay Loans) 7.36 7.54 8.21 2ND MTG NOTES LTV RANGES PREPAYMENT PENALTY: 2 YEARS *Combo add included (Restrictions apply. Please contact FIRST MORTGAGE Program FULL DOC YSP MATRIX LTV RANGES NIV LTV RANGES July 10, 2006 Blended Rate PREPAYMENT PENALTY: 2 YEARS 7.89 LTV RANGES SECOND MORTGAGE *Combo add included Requires: 600-679 Fico; Purchase Only INTEREST ONLY AND 40 YEAR & 50 YEAR PRODUCTS ALLOWED NIV Wage Earner add 0.250 add 0.25 This information is intended for use by real estate professionals only, and is not to be distributed to the general public. All loan programs, terms and rates are subject to change without notice. Additional terms and conditions may apply. Loan approval, rate and terms are dependent on your borrower’s credit score and financial history. © 2005 First Franklin. All rights reserved. First Franklin is an equal housing lender. First Franklin is a division of National City Bank of Indiana. The corporate office is located at 2150 North First Street, San Jose, CA 95131. Loan programs are not available in Alaska and Hawaii.
2.
FIRST MORTGAGE FIXED
WHOLESALE RATE SHEET SECOND MORTGAGE COMBO PROGRAMS 30 YR. FIXED & 30/15 BLN / 3 YR. PRE-PAY (FULL AMORT/BALLOON) FULL DOC Credit PERIOD FEE UP FRONT FEE Credit 80% 1st Score 100-95.01 95-90.01 90-85.01 85-80.01 80-75.01 75-70.01 70-65.01 <65 60 Day Lock 0.50 0.50 Score Lien* 100% CLTV 95% CLTV 90% CLTV 85% CLTV < 80% CLTV >700 8.25 7.75 7.75 7.50 7.20 7.20 7.10 7.10 90 Day Lock 1.00 1.00 >700 7.35 9.20 8.45 8.20 7.95 7.60 680-699 8.50 8.00 7.90 7.65 7.25 7.25 7.10 7.10 180 Day Lock 2.50 1.00 680-699 7.40 9.60 8.85 8.60 8.35 8.10 660-679 8.50 8.00 8.00 7.75 7.35 7.35 7.35 7.20 660-679 7.50 10.10 9.35 9.10 8.85 8.60 640-659 8.90 8.25 8.25 8.00 7.60 7.60 7.50 7.35 640-659 7.75 10.85 10.10 9.85 9.60 8.95 630-639 9.00 8.50 8.50 8.25 7.85 7.85 7.70 7.60 620-639 8.00 11.45 10.70 10.45 10.20 9.60 620-629 9.00 8.50 8.50 8.25 7.85 7.85 7.75 7.60 30 Day Lock 0.00 600-619 8.10 11.95 11.20 10.70 10.35 9.70 610-619 9.25 8.75 8.65 8.40 7.95 7.95 7.85 7.70 45 Day Lock (add to rate) 0.15 600-609 9.25 8.75 8.65 8.40 7.95 7.95 7.85 7.70 590-599 10.25 9.00 8.65 8.50 8.00 8.00 8.00 8.00 580-589 10.50 9.00 8.65 8.50 8.00 8.00 8.00 8.00 3 Yr Prepay 0.00 NIV 570-579 8.75 8.50 8.00 8.00 8.00 8.00 2 Yr Prepay 0.35 Credit 80% 1st 2nd Mortgage 560-569 9.00 8.50 8.00 8.00 8.00 8.00 1 Yr Prepay 0.65 Score Lien* 100% CLTV 95% CLTV 90% CLTV 85% CLTV < 80% CLTV 550-559 8.75 8.50 8.25 8.00 8.00 0 Yr Prepay 1.00 >700 7.90 9.45 8.70 8.45 8.20 7.85 540-549 8.90 8.50 8.25 8.00 8.00 680-699 8.00 9.85 9.10 8.85 8.60 8.35 660-679 8.10 10.60 9.85 9.60 9.35 9.10 your local Account Executive.) Lock Period PREPAYMENT PENALTY Prepayment Penalty (No YSP Pricing on No Prepay Loans) ADJUSTMENTS TO RATE Program 15 Yr Fixed *to 30/30 & 30/15 rate (0.25) 640-659 8.35 11.35 10.60 10.35 10.10 9.45 7.84 Blended Rate 8.21 Credit 103% LTV 0.25 Score 100-95.01 95-90.01 90-85.01 85-80.01 80-75.01 75-70.01 70-65.01 <65 Best Score (Add does not apply to NIV) 0.25 >700 8.75 8.25 8.25 8.00 7.60 7.45 7.35 7.25 Products 680-699 9.00 8.50 8.40 8.15 7.75 7.75 7.60 7.50 Fico >660 Fico 600-659 Fico <600 All loans must be funded at PAR or at a discount. 660-679 9.15 8.65 8.65 8.40 8.00 8.00 8.00 7.85 40 yr Amort. (I/O N/A) 0.10 0.10 0.00 FULL DOC MINIMUM CREDIT SCORE = 600 Buydowns = 3:1 640-659 9.50 8.90 8.90 8.65 8.20 8.20 8.10 8.00 50 yr Amort. (I/O N/A) 0.20 0.25 0.00 NIV DOC MINIMUM CREDIT SCORE = 640 Maximum Discount = 1.000% in rate. 630-639 9.65 9.15 9.15 8.90 8.45 8.45 8.35 8.25 Interest Only 0.25 0.25 0.00 BALLOON FINANCING AVAILABLE TO 100% cltv Yield Spread Premium is not available. 620-629 9.65 9.15 9.15 8.90 8.45 8.45 8.35 8.25 Doc Type (use code 5521 for balloon product) 610-619 10.00 9.50 9.40 9.15 8.70 8.70 8.60 8.50 NIV Wage Earner 0.25 1 Yr Prepay 0.25 600-609 10.00 9.50 9.40 9.15 8.70 8.70 8.60 8.50 LIV 0.25 Combo's only, no stand-alone 2nds. 0 Yr Prepay 0.55 590-599 9.40 9.25 8.75 8.75 8.75 8.75 Stated Plus/Blended Access 0.65 Minimum loan amount: $10,000. 580-589 9.40 9.25 8.75 8.75 8.75 8.75 N/O/O or 2nd Homes not eligible for subordinate financing. LIV 0.50 570-579 9.50 9.25 8.75 8.75 8.75 8.75 Refi & LTV > 95% or CLTV > 95% (excludes Rapid Refi) 0.50 Rural Properties not eligible for subordinate financing. 12 month bank statements 600-639 0.25 560-569 9.75 9.25 8.75 8.75 8.75 8.75 Combo & CLTV > 90% 0.15 550-559 9.50 9.25 9.00 8.75 8.75 ~If first mortgage is 30 year amort., use 30/20 or 30/15 or 30/10 FOR DTI < 45.49% > 640 (0.50) 540-549 9.65 9.25 9.00 8.75 8.75 N/O/O or 2nd Home & LTV < 80% 0.25 ~If first mortgage is 30/15 balloon, use 30/10 only 600-639 (1.00) N/O/O or 2nd Home & LTV > 80% 0.50 NIV Credit Condo* 0.25 Score 100-95.01 95-90.01 90-85.01 85-80.01 80-75.01 75-70.01 70-65.01 <65 >700 8.85 8.40 8.40 8.15 7.75 7.60 7.50 7.35 3-4 Units 0.25 680-699 9.10 8.65 8.50 8.25 7.85 7.85 7.75 7.60 660-679 9.15 8.65 8.65 8.40 7.95 7.95 7.95 7.85 < $80K* 0.25 640-659 9.50 8.90 8.90 8.65 8.20 8.20 8.10 8.00 630-639 9.50 9.25 8.85 8.85 8.75 8.60 $750K - $1.2M 0.25 620-629 9.50 9.25 8.85 8.85 8.75 8.60 > $1.2M - $1.35M 0.35 610-619 9.65 9.40 9.00 9.00 8.85 8.75 > $1.35M* 0.75 600-609 9.65 9.40 9.00 9.00 8.85 8.75 *Restrictions apply. Please contact your local Account Executive. 590-599 9.00 9.00 9.00 9.00 580-589 9.00 9.00 9.00 9.00 Bankruptcy/Foreclosure <12 mnth. Seasoning 0.25 570-579 9.00 9.00 9.00 560-569 9.00 9.00 9.00 550-559 540-549 *Combo add included (- 0.15) OFF IN RATE OR <.30> YSP* 2ND MTG RATE ADD-ON ONLY DTI SPECIAL (Not available for NIV) JULY PURCHASE SPECIAL (-.50) RATE REDUCTION AVAILABLE FOR ALL DOC TYPES INTEREST ONLY AND 40 YEAR & 50 YEAR PRODUCTS ALLOWED **(Cannot be combined with First Time Home Buyer Special) * 0 PREPAY LOANS NOT ELIGIBLE FOR YSP FILE MUST BE SUBMITTED USING EASYWRITER *IF YOU ARE NOT AN EASYWRITER CUSTOMER, **Special will be applied by FF underwriter** Bay Area Wholesale SEE YOUR AE FOR DETAILS 900 E. Hamilton Ave, Suite #350, Campbell, CA 95008 Toll Free (800) 464-9425 *Combo add included Blended Rate PREPAYMENT PENALTY BUYDOWN 2ND MTG NOTES RATE ADD-ON *100% COMBO HELOC AVAILABLE FOR FULL DOC & LIV. EasyWriter Special BRANCH CONTACT INFORMATION 8.37 8.95 PREPAYMENT PENALTY: 2 YEARS 7.72 8.02 8.60 July 10, 2006 2:1 up to 1.50 PREPAYMENT PENALTY: 2 YEARS (Restrictions apply. Please contact 3:1 BUYDOWN EXTENDED LOCK 2nd Mortgage (30/20, 30/15) 8.69 8.87 FULL DOC YSP MATRIX FIRST MORTGAGE LTV Ranges Loan Purpose LTV Ranges RAPID PURCHASE / RAPID REFI 80/20* 80/20* LTV Ranges 1:1 from 1.55 to 2.00 YSP Max YSP = 2.00% BUYDOWNS (MAX = 0.75 IN RATE) 8.37 SECOND MORTGAGE BUYDOWNS Occupancy Property Type *First Time Home Buyer Special; No add for Condo Loan Amt Requires: 600-679 Fico; Purchase Only *First Time Home Buyer Special; No add < $80K Other NIV Wage Earner add 0.250 add 0.25 This information is intended for use by real estate professionals only, and is not to be distributed to the general public. All loan programs, terms and rates are subject to change without notice. Additional terms and conditions may apply. Loan approval, rate and terms are dependent on your borrower’s credit score and financial history. © 2005 First Franklin. All rights reserved. First Franklin is an equal housing lender. First Franklin is a division of National City Bank of Indiana. The corporate office is located at 2150 North First Street, San Jose, CA 95131. Loan programs are not available in Alaska and Hawaii.
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