rumours that RAMS have found some money

[Rolf Latham]

The below from my RAMS bdm...............cant yet confirm it




MAY 4TH - RAMS IS BACK!!!!!



HOW GOOD IS THIS!!!!



FULL DOC



95% CAP LMI (up to 97%) INVESTMENT AND OWNER OCCUPIED LOANS (PURCHASE AND REFINANCE)



95% CAP LMI (up to 97%) CONSTRUCTION LOANS



95% CAP LMI (up to 97% max) RE-FINANCES (+ “reasonable” exit costs)



90% cap LMI – to include cash out with stated purpose



LOW DOC



80% REFINANCE PLUS UP TO $10,000 CASH OUT TOWARDS COSTS NO BAS OR ACCOUNTANTS LETTERS



80% PURCHASE INVESTMENT OR OWNER OCCUPIED (LETTER FROM ACCOUNTANT OR BAS)



80% CONSTUCTION LOW DOC



Cash out no worries however must provide evidence of equity release.



TIRED OF HAVING TO COMPETE AGAINST THE BANK’S BRANCHES AND NETWORKS!!!!!!!



HERE IS YOUR OPPORTUNITY TO FIGHT BACK!! YOU WILL HAVE ACCESS TO THE FULL RAMS OFFERINGS AND CREDIT POLICY PLUS YOU WILL BE ABLE TO CONTINUE TO SERVICE YOUR EXISTING CLIENTS.

 

[mja]

The excessive use of caps makes me want to drink the ocean with a spoon.

However, good news if the BDM is correct.

 

[Rixter]

I heard lo docs right across the board will be completely abolished by the UCCC.

 

[Spectre]

Obviously not the same bdm who now is at liberty...

 

[Rolf Latham]

Hiya Rixter

The new legislation replacing the UCCC will make a lo doc more like what it should have been in the first place.

It may mean that lenders just boot them in any case coz they dont fit the sausage factory

Our lo doc as a % of total biz are down 90 %, and that isnt so much because of lack of availability of money, but just because you dont want a lot of that business as a proportion.

Over the last 18 mths, many brokers are already employing verification methods for lo docs that would provide coverage under the "unsuitable loan" or "unsuitable borrower" criteria that are to be introduced.

ta

rolf

 

[MC1]

So they'll be using brokers again?

 

[MTR]

The below from my RAMS bdm...............cant yet confirm it




MAY 4TH - RAMS IS BACK!!!!!



HOW GOOD IS THIS!!!!



FULL DOC



95% CAP LMI (up to 97%) INVESTMENT AND OWNER OCCUPIED LOANS (PURCHASE AND REFINANCE)



95% CAP LMI (up to 97%) CONSTRUCTION LOANS



95% CAP LMI (up to 97% max) RE-FINANCES (+ “reasonable” exit costs)



90% cap LMI – to include cash out with stated purpose



LOW DOC



80% REFINANCE PLUS UP TO $10,000 CASH OUT TOWARDS COSTS NO BAS OR ACCOUNTANTS LETTERS



80% PURCHASE INVESTMENT OR OWNER OCCUPIED (LETTER FROM ACCOUNTANT OR BAS)



80% CONSTUCTION LOW DOC



Cash out no worries however must provide evidence of equity release.



TIRED OF HAVING TO COMPETE AGAINST THE BANK’S BRANCHES AND NETWORKS!!!!!!!



HERE IS YOUR OPPORTUNITY TO FIGHT BACK!! YOU WILL HAVE ACCESS TO THE FULL RAMS OFFERINGS AND CREDIT POLICY PLUS YOU WILL BE ABLE TO CONTINUE TO SERVICE YOUR EXISTING CLIENTS.

Hi Rolf
that's good news, am confused though, can I access equity with lo doc products at 80%LVR.

Cheers, MTR

 

[bcoombs]

Its an April Fools joke? They are only franchise now.

 

[Indulgedbelle]

Rams possible changes

Hello can anyone confirm if this is an April Fools joke, or something that may be happening, Thanks Indulgedbelle.

 

[MTR]

Only think it is fair that Rolf replies to this, you dirty rotten ......, damn you, ......

 

[Qlds007]

Bit like saying they had gone back to 48 hour conditional approvals.

Dealing with Rams was like living in the Country.
You know it will rain one day just a matter of when that day comes.