A loan scenario posted on the Mortgage Grapevine is looking for a rate and term refinance. The borrower is a doctor, seeking a $650,000 full-doc loan with a 65% loan-to-value ratio. The credit score is 688 and the borrower has $400,000 in the bank.
However, over three years ago, the borrower was foreclosed upon due to a medical situation involving a family member. So the poster is looking for lender who is able to fund this loan.
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