LTV Question

Topdawg · Joined: 16 Jul 2007 Posts: 9 Location: Charleston, WV

Where can one obtain LTV other than the loan documents or credit bureau :?:

Thanks in advance~

Haplo · Joined: 20 Jan 2005 Posts: 2422 Location: Springfield, IL

Uh, what?

Credit doesn't show LTVs. Heck, loan docs normally don't either, unless you manually figure it out.

What's the question you're trying to ask? If you're trying to figure out what % you're at, it's your loan amount divided by your appraised value/purchase price (which ever is lower.)

If you mean what LTVs are allowed on what programs...that's completely different and is going to be in the guidelines of the program itself.

Topdawg · Joined: 16 Jul 2007 Posts: 9 Location: Charleston, WV

My question is from left-field, I know, lol.

Our company provides leads, but isn't in the mortgage business, so I was trying to figure out how we could obtain LTV on provided leads. Since we're not in the business...we just don't know where or how to look, or if it's even available to us. Our source is the actual courthouses..we don't do anything over the internet.

I looked at Zillow...but that doesn't seem real accurate, and it's a CMV source..

Thanks, Haplo!

Haplo · Joined: 20 Jan 2005 Posts: 2422 Location: Springfield, IL

LTV of a current property then?

Not sure how you'd go about that in an efficient manner.

Topdawg · Joined: 16 Jul 2007 Posts: 9 Location: Charleston, WV

Thanks, Haplo.

Maybe CMV will be as close as we can get...I'm really curious how other lead advertisers are claiming they can get true LTV, especially when credit bureaus and internet info are the source for the majority of them.

I imagine a small percentage may be getting real estate referrals, but that doesn't compute when they're tossing off 1000's of leads a day.

Things that make you go hmmmmm....

member101 · Joined: 18 Jul 2007 Posts: 9 Location: Montreal, Canada

[quote="Topdawg"]Maybe CMV will be as close as we can get...I'm really curious how other lead advertisers are claiming they can get true LTV[quote]

The only way to guarantee LTV is with telemarketed leads. Getting on the phone with the borrower and asking them what the houses in the area are selling for and how their house compares to those. Some of the time they even had a recent appraisal in the past couple months. Other than that there really is no way.

Zillow.com is a great resource to get a GENERAL idea of an area in comparison to another. It's not an accurate source of property values.

member101 · Joined: 18 Jul 2007 Posts: 9 Location: Montreal, Canada

check out cyberhomes and realestate /homepricecheck

both are .com

they both seem to be pretty accurate. there must be a way to use their systems in bulk and submit a list of addresses and get values for each. not sure how to do it, i would contact them and see if there is a way.

chow · Posted: Wed Jul 25, 2007 12:04 am Post subject:

yeah, right.

There is nothing that will ever replace an appraiser.

I haven't found one site that can give me an accurate value on my own home. Why would I trust anyone without a professional, who is licensed to give that value?

If I run these sites, my home comes in 100K under value.

Topdawg · Joined: 16 Jul 2007 Posts: 9 Location: Charleston, WV

I have taken a look at those sites too & I would never present misinformation.

I was just wondering if there was another route.

Thanks again, this explains a lot.

chow · Posted: Sun Jul 29, 2007 9:28 pm Post subject:

It boils down to good old fashioned interview skills, either by phone or face to face. This should also be done by people who are actually some self education of the area they are working the leads in.
If I had a weird one comw in, I would pack up the mobile office and go out to the client.

This is where lead providers and boiler room mortage companies really lose out. You have to think outside of the box, and actually know how the box is built.