Brokers Advantage

Basic information

QM program

• USDA

Loss payee

Carrington Mortgage Services, LLC Its Successors and/or Assigns P.O. Box 692408 San Antonio, TX 78269-2408

CPL or subordinate clause

CPL’s, Escrow Amendments Only Vista Point Mortgage, ISAOA, 1920 Main St., Suite 200, Irvine, CA 92614 CPL’S Vista Point Mortgage, LLC dba Brokers Advantage Mortgage, ISAOA, 1920 Main St., Suite 200, Irvine, CA 92614

Lock policies & fees

Lock policies

Lock extension

If lock is set to expire before funding, locks may be extended up to a maximum of 60 days. Extension requests must be done prior to lock expiration. Extension fee – .025 bps fee per day. Request must be sent to lockdesk@brokersadvantagemtg.com by 4 pm PST on or before the lock expiration date listed on the Lock confirmation in order to be extended.

Relock

Expired locks or locks that have exceeded maximum extension period may be relocked with worst case pricing and a lock term of 15 days. Relock fee 0.125

Lock & Shop

No

Lender's niche & overlays

Lender's niche

Closed End 2nds 

Lender's overlays

N/A

Lender turn time

Initial underwrite (days)

2

CTC conditions review (days)

1

Initial CD (days)

1

Reviews