ONEIL Team - United American Mortgage

12/13/2023

Massive WIN for bonds and mortgage rates today following the Fed press conference. Hikes are likely done unless data manages to surprise in an inflationary way. Bonds rejoiced across the curve and we saw some lenders price close to 0.375% lower in rate following Powell's remarks and DOT Plot graph that was released indicating Fed rate cuts in '24 & '25. More detailed info here -

Today's Market Summary Report

09/29/2023

FUNDED > $500K 12-month business bank statement cashout refinance loan. The borrower's income did not meet standard qualification guidelines, so we pivoted and funded the loan using the average of incoming deposits through their business to fund their personal home loan and closed in just 25 days!

Craig O'Neil NMLS 858644
United American Mortgage Corp. NMLS #1942

09/05/2023

FUNDED > $825,000 full doc 30yr fixed investment 4-plex purchase loan funded for my investor clients. I competed against a retail bank and secured a lower rate for our clients and funded in just 21 days. Quick Close, Lower Rate, Top Service! 🔥

08/14/2023

FUNDED > $1.32M 12-month business bank statement purchase loan that was denied by a retail bank for not meeting full doc qualification requirements while under contract. We funded this loan using the average of the clients incoming deposits into 12 months worth of business bank statements and funded the loan in 21 days!

Craig O'Neil NMLS 858644
United American Mortgage Corp. NMLS #1942

08/08/2023

FUNDED > $2.1M full doc jumbo purchase loan that could not close through retail banking channels due to self employed amortization losses. We funded through our Credit Union portfolio product with underwriting based on DU qualification (2 years tax returns, no P&L's, & with amortization loss added back as income). This product allows -

5% down payment up to 1.5M loan
10% down to 2M loan
15% down to 2.5M loan

NMLS 858644
United American Mortgage Corp. NMLS #1942