California Luther Burbank Savings ~ Wholesale Rate Sheet 5/23/2016 8:00 AM PST Lock Desk: 7:30 AM - 4:00 PM PST, Monday - Friday Index: Website www.lutherburbanksavingswholesale.com 1 Yr LIBOR 1.2990% 60 Days Rate Sheet 120 Days add.500% Fee Rate locks are accepted 7:30 AM - 8:00 PM PST, Monday through Friday (excluding holidays) REG Z PORTFOLIO ARMS - Primary Residence A+ CREDIT 3/1 LIBOR ARM 5/1 LIBOR ARM Caps 7/1 LIBOR ARM 10/1 LIBOR ARM REG Z Owner -Occupied REG Z Owner -Occupied 3/1 LIBOR 2/2/6 REG Z Owner -Occupied REG Z Owner -Occupied 4.000 (1.750) 4.125 (1.750) 5/1 LIBOR 2/2/6 4.500 (2.000) 5.000 (2.000) 3.875 (1.625) 4.000 (1.625) 7/1 LIBOR 2/2/6 4.375 (1.875) 4.875 (1.875) 3.750 (1.500) 3.875 (1.500) 10/1 LIBOR 5/2/6 4.250 (1.750) 4.750 (1.750) 3.625 (1.375) 3.750 (1.375) Margin ~ 2.500% 4.125 (1.625) 4.625 (1.625) 3.500 (1.250) 3.625 (1.250) Pre-Pay Penalty: None 4.000 (1.500) 4.500 (1.500) 3.375 (1.125) 3.500 (1.125) 3.875 (1.375) 4.375 (1.375) 3.250 (1.000) 3.375 (1.000) 3.750 (1.250) 4.250 (1.250) 3.125 (0.875) 3.250 (0.875) 3.625 (1.125) 4.125 (1.125) 3.000 (0.625) 3.125 (0.750) 3.500 (1.000) 4.000 (1.000) 2.875 (0.250) 3.000 (0.500) 3.375 (0.500) 3.875 (0.750) 2.750 0.000 2.875 0.000 3.250 0.000 3.750 0.000 Loan Amounts Offered between $20,000 - $7,500,000 on 1-4 SFR properties REG Z PORTFOLIO ARMS - Non-Owner Occupied (Cash out or Delayed Finance, Not Business Entity) A+ CREDIT 3/1 LIBOR ARM 5/1 LIBOR ARM Caps 7/1 LIBOR ARM REG Z Non-Owner Occupied REG Z Non-Owner Occupied 3/1 LIBOR 2/2/6.25 REG Z Non-Owner Occupied 4.875 (1.750) 5.000 (1.750) 5/1 LIBOR 3/2/6.25 5.375 (2.000) 4.750 (1.625) 4.875 (1.625) 7/1 LIBOR 3/2/6.25 5.250 (1.875) 4.625 (1.500) 4.750 (1.500) 5.125 (1.750) 4.500 (1.375) 4.625 (1.375) Margin ~ 3.000% 5.000 (1.625) 4.375 (1.250) 4.500 (1.250) Pre-Pay Penalty: None 4.875 (1.500) 4.250 (1.125) 4.375 (1.125) 4.750 (1.375) 4.125 (1.000) 4.250 (1.000) 4.625 (1.250) 4.000 (0.875) 4.125 (0.875) 4.500 (1.125) 3.875 (0.625) 4.000 (0.750) 4.375 (1.000) 3.750 (0.250) 3.875 (0.500) 4.250 (0.500) 3.625 0.000 3.750 0.000 4.125 0.000 Loan Amounts Offered between $20,000 - $7,500,000 on 1-4 SFR properties Non-REG Z PORTFOLIO ARMS - Non-Owner Occupied / Business Entity / Delayed Finance w/ Secured Interim Finance A+ CREDIT 3/1 LIBOR ARM 5/1 LIBOR ARM Caps 7/1 LIBOR ARM Non-REG Z Non-REG Z 3/1 LIBOR 2/2/6.25 Non-REG Z 4.125 (1.000) 4.250 (1.000) 5/1 LIBOR 3/2/6.25 4.375 (1.000) 4.000 (0.750) 4.125 (0.750) 7/1 LIBOR 3/2/6.25 4.250 (0.750) 3.875 (0.500) 4.000 (0.500) 4.125 (0.500) 3.750 (0.250) 3.875 (0.250) Margin ~ 3.000% 4.000 (0.250) 3.625 0.000 3.750 0.000 Pre-Pay Penalty: 1.5 Year 3.875 0.000 Loan Amounts Offered between $20,000 - $2,500,000 on 1-4 SFR properties Fees: Funding Fee $895; Flood Determination $7, Flood Monitoring $4 Tax Service Fee: $65 for 30 Year Amortization to Loan Amount $1.9 MM (For Loan Amount > $1.9 MM, refer to Tax Service Schedule on Broker portal.) Legal Review Fee $250 (For Business Entity, Partnership, LLC).500 % Fee Paid at Closing for each: Departing Residence, Cross-Collateral Available Counties : Alameda, Contra Costa, Los Angeles, Marin, Napa, Orange, Riverside, San Bernardino, San Diego, San Francisco, San Mateo, Santa Barbara, Santa Clara, Sonoma, Ventura. Rates, fees, programs and pricing are subject to change without prior notice. FOR APPROVED MORTGAGE BROKERS ONLY. NOT INTENDED FOR USE BY GENERAL PUBLIC. APR'S ARE NOT QUOTED. Wholesale Broker Portal: www.lutherburbanksavingswholesale.com Wholesale Rate Sheet 1 of 5
California - WHOLESALE PORTFOLIO ARM PRICING ADJUSTMENTS (Pricing is locked at time LE is issued or LE is reviewed by Luther Burbank Savings) Wholesale website : www.lutherburbanksavingswholesale.com + REG Z - All Loans RATE FEE MARGIN Base 75% LTV LBS Relationship Discount -0.125 SPECIAL - For Purchases & Rate/Term Refi's 3/1-5/1-7/1 ARMs only -0.250 High Rise Condo 8+ Stories -5% Cross Collateralization No Premium over Compensation 0.250 0.500 incl. in LE See UW Matrix Departing Residence w/ Retained Existing Residence No Premium over Compensation 0.500 incl. in LE See UW Matrix LBS Loans >2 : Includes loans in process & closed, SFR 1-4 units only 0.250 + REG Z Owner Occupied / Second Home Only Second Home (1 Unit) Interest Only Not Offered 0.125-5% "A" Credit (FICO < 680) 0.250 0.250-5% Interest Only (Purchase and R/T Refinance) 3/1-5/1 ARMs only 0.125 See UW Matrix Purchase / Rate/Term, LTV 80% (Owner Occ Only) $750,001 - $2,000,000 0.125 +5% Loan Amount > $3,000,000 0.125 0.125-5% Loan Amount > $5,000,000 Interest Only Not Offered 0.125 0.125-10% Cash Back Amount <= $500,000 Interest Only Not Offered 0.125-5% Cash Back Amount > $500,000 Interest Only Not Offered 0.125-10% Subordinate Fin. (Owner-Occ only) CLTV 75.01% - 80.00% $750,001 - $2,000,000 0.125 Subordinate Fin. (Owner-Occ only) CLTV 80.01% - 90.00% $20,000 - $2,000,000 0.125 + REG Z Non-Owner Occupied Only (Cash-out or Delayed Purchase with cash back - not Business Entity) Pricing Adjustments are cumulative Delayed Purchase 3/1 and 5/1 ARMs -5% Delayed Purchase 7/1 ARMs 0.250-5% Cash Out Refinance 3/1, 5/1, and 7/1 ARMs Max Cash back: $300,000 0.500-10% "A" Credit Cash Out Max Cash back: $300,000 0.250 0.250-15% "A" Credit Delayed Purchase Max Loan Amount $2,500,000 0.250 0.250-10% + NON-REG Z (Non-Owner Purchase or R/T Refinance, Business Entity regardless of Occupancy, or Delayed Purchase with Secured Interim Finance (No Cash Back) LBS Relationship Discount -0.125 SPECIAL - For Purchases 3/1-5/1 ARMs only -0.250 "A" Credit Max Loan Amount $2,500,000 0.250 0.250-20% Cross Collateralization No Premium over Compensation 0.250 0.500 incl. in LE See UW Matrix Business Entity - Cash Out 0.500 0.125-10% Business Entity - Purchase & Rate/Term 0.125 0.125-5% LBS Loans >2 : Includes loans in process & closed, SFR 1-4 units only 0.250 Notes Minimum Rate (Floor): Reg Z Portfolio ARMs : Non-Reg Z Portfolio ARMs: Higher of Margin, or Base Rate minus 1.500% (never less than Margin). Higher of Margin, or Base Rate minus.500% (never less than Margin). Escrow accounts are available upon request (If property located in a flood zone, flood insurance impounds required) SPECIAL - For Purchases Owner Occupied / Second Home: SPECIAL applies to 3/1, 5/1, and 7/1 ARMs - All Purchase and Delayed Purchase Transactions Reg Z: Non-Owner Occupied properties: SPECIAL applies to 3/1 and 5/1 ARMs Delayed Purchase Transactions Non-Reg Z: Non-Owner Properties: SPECIAL applies to 3/1 and 5/1 ARMs - All Purchase and Delayed Purchase Transactions SPECIAL - For Rate/Term Refinances Refinance to pay-off an existing LBS loan is ineligible for Special. Non-Reg Z Prepay Penalty - 1.5 Year Hard prepayment penalty, penalty is 6 months interest on 80% of Original Loan Amount, when > 20% is pre-paid during first 1.5 Years of Loan Max Compensation ( Reg Z ): Borrower-Paid Compensation: Maximum is 1.500% of Loan Amount (including Processing Fee). Borrower-Paid Compensation: Premium pricing may not be used to pay Broker compensation. Lender-Paid Compensation: May not be used for third party closing costs. Max Compensation ( Non-Reg Z): 2.000% of Loan Amount (including Rebate) Maximum Fees Allowed: $1,000 + Third Party Costs Program Features / Underwriting Requirements Maximum loans financed with LBS = 5. Reg Z loans must meet Ability To Repay Reg Z criteria Max DTI: Owner Occupied - 47% Non-Owner Occupied - 45%. Contact your LBS Account Executive on HPML transactions Programs are offered on 1-4 Unit Single Family Residences only. Maximum Cash Back on Non-Owner Occupied properties is $300,000 Appraisal required for underwriting submission of Refinance transactions Refer to Underwriting Matrices for LTV / FICO / Loan Amount eligibility criteria A+ & A Credit: Refer to Underwriting Addendum to Rate Sheet for LTV and Loan Amount limits Subordinate Financing: Refer to Underwriting Matrices for Maximum CLTV / Loan Amount eligibility criteria New loans submitted after 3:00 PM are processed as received the following business day. Cross Collateral and Departing Residence - Premium / Rebate in excess of Broker Compensation is Not Offered. Cross Collateral - The use of primary residence as collateral for Purchase / Refinance of an Investment Property is allowed FOR APPROVED MORTGAGE BROKERS ONLY. NOT INTENDED FOR USE BY GENERAL PUBLIC. APR'S ARE NOT QUOTED. Wholesale Rate Sheet 2 of 5
Loan Amount/LTV Minimum Loan Amount: $20,000 Maximum Loan Amount: $7,500,000 Refer to minimum FICO score LTV chart below. A+ Credit Loan amounts over $1,500,000: One -applicant minimum 5 trade lines. Additional applicant(s) minimum 3 trade lines. Trades lines must have been established over three years ago. A+ Credit Loan amounts up to $1,500,000: All applicants must have a minimum 3 trade lines. Trades lines must have been established over three years ago. A Credit: Each applicant minimum of 3 trade lines or 2 + verification of rent. (If landlord is a private party,12 months canceled checks required in lieu of VOR.) Trades lines must have been established over three years ago and rental verification must cover 12 consecutive months at a minimum. Purchase If the seller purchased the property within 6 months, the LTV will be based on the lesser of the seller s acquisition cost, current sales price or appraised value. Refinance: LTV will be calculated on properties purchased within 12 months by using the lesser of purchase price or current appraised value. Properties purchased more than 12 months ago, the value will be based on the current appraised value. 30 Year Mortgage Purchase Owner Occupied Loan Amount 65% LTV 70% LTV 75% LTV 80% LTV 90% LTV $ 20,000 - $ 417,000 660 660 680 680 N/A $ 417,001 - $1.00MM 660 660 680 700 N/A $1,000,001 - $2.00MM 660 660 680 740 N/A N/A $2,500,001 - $3.0MM 680 680 680 N/A N/A N/A $5,000,001 - $7.5MM 720 N/A N/A N/A N/A Max CLTV: 80.01%-90% Primary Residence up to $2,000,000 30 Year Mortgage Rate and Term Refinance Owner Occupied Loan Amount 65% LTV 70% LTV 75% LTV 80% LTV $ 20,000 - $417,000 660 660 680 680 $ 417,001 - $1.00MM 660 660 680 700 $1,000,001 - $2.00MM 660 660 680 740 $2,500,001 - $3.0MM 680 680 680 N/A $5,000,001 - $7.5MM 720 N/A N/A N/A CLTV = LTV CLTV 75.01-80% LBS Maximum loan amount $2,000,000 Wholesale Rate Sheet 3 of 5
30 Year Mortgage Refinance Owner Occupied/Cash Out Loan Amount 60% LTV 65% LTV 70% LTV 75% LTV $ 20,000 - $ 417,000 660 660 680 N/A $ 417,001 - $1.00MM 660 660 680 N/A $1,000,001 - $2.00MM 660 660 680 N/A $2,500,001 - $3.0MM 680 680 680 N/A Cash-out Refinance: $500,000 -LTV as listed above ((Rate Adjustment Sample 75% - 5%= 70%) > $500,000 -Reduce LTV by 5% above (Rate Adjustment Sample 75% - 10% = 65%) Cross Collateral 30 Year Mortgage Purchase and Rate & Term Refinance Owner Occupied Loan Amount 60% LTV 65% LTV 70% LTV 75% LTV 80% LTV $ 20,000 - $ 417,000 660 660 680 680 680 $ 417,001 - $1.00MM 660 660 680 700 N/A $1,000,001 - $2.00MM 660 660 680 740 N/A N/A $2,500,001 - $3.0MM 680 680 680 N/A N/A N/A $5,000,001 -$7.5 MM 720 N/A N/A N/A N/A Interest Only 30 Year Mortgage Purchase & Rate & Term Refinance Owner Occupied Loan Amount 65% LTV 70% LTV 75% LTV 80% LTV $ 20,000 - $ 417,000 660 660 680 680 $ 417,001 - $750,000 660 660 680 700 $750,001 - $2.00MM 660 660 680 740 $2,500,001 - $3.0MM 680 680 N/A N/A Max LTV/CLTV: 80% Non-Owner Occupied Loan Amount 55% LTV 60% LTV 65% LTV 70% LTV Purchase / Rate and Term Refinance $20,000 - $2.50MM 660 680 680 680 CLTV: Not Allowed Cash Out Refinance $20,000-2.50MM 660 680 680 N/A Cash-out Maximum is $300,000 CLTV: Not Allowed Cross - Collateral Non-Owner Occupied Loan Amount 50% LTV 55% LTV 60% LTV 65% LTV 70% LTV Purchase / Rate and Term Refinance $20,000 - $2.50MM $2.50MM 660 680 680 680 700 Wholesale Rate Sheet 4 of 5
Loan Amount/LTV continued Loan Amount/LTV Notes for all programs 1. Max CLTV 80.01% - 90% up to $2.00MM a. Primary Residence only b. Purchase only c. Interest only option not available. d. Departing residence may not be retained. 2. Max CLTV = LTV unless noted differently. 3. Departing Residence with existing residence retained: LTV/CLTV limited to 80% (Maximum $5.0MM) 4. Interest-only allowed on Primary Residence only. Max loan amount: $5.0MM. Minimum Credit Score 660. Maximum LTV/CLTV = 80% (3 year and 5 year ARM product only) 5. Second Home reduce LTV by 5% - Maximum LTV 70% up to $3.00MM & 65% up to $5.00 MM, 60% up to $7.5MM.. 6. High Rise Condo (8+ stories including parking) allowed for Primary Residence and Second Homes only. Reduce LTV by 5%. 7. No subordinate financing allowed on Cash-out Refinance transactions. 8. Luther Burbank Savings will finance up to five residential properties, (1-4 units) for a borrower. 9. Asset Depletion allowed on Primary Residence and Second Homes only. 10. Bond Link: http://online.wsj.com/mdc/public/page/mdc_bonds.html?mod=mdc_topnav_2_3020 11. 7/1 & 10/1 ARM Interest Only Not allowed. 12. Non-Owner transactions only allowed on 3/1, 5/1 & 7/1 Year Products only. Wholesale Rate Sheet 5 of 5