Posted by Charles Clark on March 09, 2003 at 18:19:45:
They all vary, the one that I work with does not, but they are all concerned with “getting their money back”, so the days of just having a property that is “good enough” and not having a track record of paying back creditors are over.
The nice thing about them is that they all seem to be very quick in making decisions, like there is no committee…And for people doing non investor re-habs, they are perfect in a lot of ways, especially in that there is no PrePaymentPenalty and there is no reporting to traditional credit bureaus, so your basic credit score is not affected.
Charles