The Way to Greater Efficiency. Correspondent Lending

Transcription

1 The Way to Greater Efficiency Correspondent Lending

2 High-level service and partnership that uniquely leverages technology, processes and people to ensure effi cient and timely loan purchases

3 Meeting the challenge of efficient and timely loan purchases The old saying that time is money is painfully true in today s highly competitive mortgage market. You need a partner who understands that fast service times, quick loan purchases and competitive pricing are critical to your success. The challenges don t end there however: Aggregators that buy your customer, rather than just your loan, put your customer relationships at risk. LenderLive Correspondent Lending provides a boutique experience for our lender partners, based on high-level service and partnership that uniquely leverages technology, processes and people to ensure effi cient, accurate and timely loan purchases. And we don t cross-sell your customers. Supporting the way you do business At LenderLive, we believe in supporting the way YOU do business. This means providing you with a broad range of competitive products and fl exible options to help grow your business and attract and retain top talent. Full product suite - Fannie Mae, Freddie Mac - FHA, VA, USDA - Non agency - Jumbo and expanded approval Delegated and non-delegated underwriting Best efforts and mandatory delivery FHA and VA Sponsor Licensed in all states Our non-delegated program supports your commitment for a timely and hassle-free approval. We understand your number one objective is to get your borrowers approved. We offer you the resources and tools to best serve your customers. Drawing on LenderLive s nearly two decades underwriting more than $150 billion in residential mortgages, the company has emerged as the nation s preeminent non-delegated investor. Underwriting turn-times average hours Intuitive technology platform allows for easy loan administration and tracking - Use our embedded pricing engine or any of the most popular third-party engines Client Coordinators that our non-delegated lenders get to know on a fi rst name basis to run scenarios and help get loans approved

4 The Way to Greater Efficiency The LenderLive difference Lenders turn to LenderLive because they want a secondary market option with competitive pricing, minimal overlays and fast turn-times. And because they know LenderLive won t compete to retain or cross-sell their customers. LenderLive is a non-depository investor Many mortgage investors are in the same business you are. Expanding share of wallet is their key objective. Too often, lenders selling to secondary market investors think they are selling a loan when they are really selling the customer. At LenderLive, we believe in empowering rather than competing with our clients brands. That s why we won t cross-sell borrowers any fi nancial products. We don t offer our clients customers the opportunity for a new loan or to refi nance with LenderLive. Instead, all new loan inquiries are referred back to our lender partners. Fees and turn-times drive profitability With LenderLive you ll benefi t from: Low underwriting and administration fees Closed loan review guarantee One-Touch incentive - Savings on loan administration fee No fee to waive escrow Loans sitting on lenders warehouse lines have a measurable economic impact in carry costs and reduced capacity; high fees can further erode your bottom line. That s why we guarantee a closed loan package review within fi ve business days, or we ll waive your administration fee. Easy to do business with is our tenet, not our tagline Easy to do business with starts with fast client approvals - that s why LenderLive approves most new correspondents in days versus weeks. A relationship with LenderLive means you will meet an experienced account executive (AE) on day one who is committed to helping you reach your goals. Our client advocates work with our AEs to ensure loans are processed quickly, pipelines monitored and all questions resolved in a timely manner. Here are some of the other ways we make life easier for our clients: You stay in control of the transaction by selecting your own service providers, like your appraiser and mortgage insurer. We provide the option for third-party origination. Our private-label fulfi llment services is an option to help you grow your business.

5 Say YES more often A broad suite of products and minimal overlays means you can say YES to your borrowers more often. We help you diversify your business to drive more loan volume and grow market share. Conventional Highlights FHA Highlights VA Highlights- Standard & IRRRL Standard-Fixed and ARMS DU Refi Plus-Fixed No LTV Limits Home Ready 97% LTV Fixed Fannie Mae High Balance 95% LTV Fixed Standard- Fixed Rates Standard- Fixed Rates Purchase Primary Residence 96.50% LTV/CLTV/HLTV with 620 FICO units Rate/Term Primary Residence 97.75% LTV/CLTV/HLTV 1-2 units with 620 FICO/ 3-4 units 640 FICO Cash-out 85% LTV with 640 FICO Minimum Loan Amount $50, Standard 100% LTV 1-4 units Purchase, Rate/Term & 1 unit Cash-out minimum 620 FICO 85% LTV 2-4 unit Cash-out minimum 640 FICO DU Approval or LP Accept required Minimum loan amount $50, Freddie Super Conforming High Balance 95% LTV, 620 FICO Open Access Relief Finance No LTV Limits Manufactured Homes Texas Section 50(a)(6) Refer to matrix for eligibility Streamline-Fixed Rates Minimum 620 FICO Minimum Loan Amount $50, LTV Per HUD, CLTV/HLTV 125% Appraisal not required VA IRRRL 1 unit PUD & Condo and 2 unit 110% LTV minimum 620 FICO 3-4 unit 110% LTV minimum 640 FICO Unlimited CLTV for subordinated financing No appraisal Primary residence only USDA Highlights Loan amounts up to $417, Yr Fixed 100% maximum LTV, CLTV Purchase, rate & term refinance Primary residence SFRs, PUDs, condos, townhomes, and modular homes permitted subject to USDA eligibility Minimum 620 FICO Maximum DTI determined by GUS Non Agency- Expanded Fixed ARM & Interest Only Highlights 30 yr Fixed, 5/1 & 7/1 LIBOR ARM, 5/1 & 7/1 LIBOR ARM Interest Only SFR, Condo, townhomes, PUD & 2 Unit Foreign National 30 yr Fixed, 5/1 & 7/1 LIBOR ARM Asset depletion for income qualification Non-Delegated program Up to 20 acres allowed 50% DTI Max Un permitted additions by exception Minimum loan amount $150, Loan amounts up to $1.5M Cash out amount cannot exceed 40% of loan balance, except as defined below: Unlimited if subject property is owned free and clear. Unlimited if LTV/CLTV CLTV is 50% Jumbo- Broadmoor HIGH LTV Highlights Jumbo- Broadmoor Highlights 30 Yr. Fixed 90% LTV No MI Loan amounts up to $1,500,000 Primary residence (no second home or investment properties) SFRs, PUDs, warrantable condos, townhomes and modular homes Fixed and 5/1, 7/1, 10/1 LIBOR ARM Purchase & Rate/Term Refi- Primary & Second homes: Loan Amounts up to $2M with min FICO 700 Cash-out transaction up to $500K SFR, PUD, Condo & 2 Unit properties First Time Home Buyer Non-Delegated program 720 minimum credit score 43% DTI First time homebuyers allowed 740 minimum credit score, 38% DTI & 15 month reserves 2 full appraisals 12 month reserves Properties up to 20 acres Non permanent resident aliens, Perm resident aliens and Inter Vivos revocable trusts are eligible Business accounts eligible for reserves

6 No one does what LenderLive does LenderLive is a premier mortgage solutions, title and settlement and document services provider. We partner with fi nancial companies to transform their day-to-day operations by delivering services and solutions that improve effi ciencies, reduce operational errors, and mitigate compliance risk. LenderLive holds a strong leadership position in the financial services industry. We do business with 10 of the top 10 mortgage companies, and 30 of the Fortune 100 companies. EQUAL HOUSING LENDER NMLS# 1607 This information is provided to assist real estate professionals and is not an advertisement to extend consumer credit as defi ned by Section of Regulation Z. Rates and terms are subject to change without notice. Learn more about LenderLive and our solutions for fi nancial institutions. Please call us at or visit us online at The Way to Greater Efficiency 710 S. Ash Street Suite 200 Glendale, Colorado 80246