Monday, June 13, 2011

Savings Banks looking to increase volume

  I recently wrote about a few savings Banks that have been the voice of reason in a sea of turbulence.  Well, there is more good news.  Astoria Federeal Savings Bank has just made it easier to get a loan:

1. Lower reserve requirements.  You need less money in the bank, post close to qualify for a loan.
2. They now allow 2nd home Co ops.
3. 40 year amortization allowed on co ops.

What type of loans are best for Astoria?

   a.  Multi million dollar loans.
   b.  Strong liquid reserves.
   c.  Borrowers that are willing to take an ARM product.

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