Dart Bank

Basic information

QM program

• Conventional
• Home Ready
• Home Possible
• FHA
• FHA Streamline
• VA
• VA IRRRL

Loss payee

Dart Bank, ISAOA, ATIMA PO BOX 2056 Carmel, IN 46082

CPL or subordinate clause

Dart Bank, ISAOA, ATIMA PO BOX 40 Carmel, IN 48854

Lock policies & fees

Lock policies

Lock extension

Lock is 12 midnight EST 7 Days a week for all programs Mon-Fri The first 3 days extension is always free! Rate locks are eligible for extensions in 3-day increments up to a maximum of 42 calendar days for Conforming Conventional and Government loan and up to a maximum of 30 calendar days for Jumbo. The first 3 days are Free, and all subsequent 3-day increments will be offered at cost provided the lock meets the following criteria: 1. The current lock has not expired 2. The loan has not been withdrawn or canceled 3. The loan has not reached nor will surpass the cumulative max extension All rate locks expire at 11:59 pm ET and extension requests must be received before this time on the day of expiration; no exceptions. For maintenance of expired loans, see the Relock section of this policy.

Relock

Rate locks that have expired prior to funding may be relocked as follows: 1. Conforming Conventional & Government i. Loans expired > 20 days will be considered new locks and priced at current market. ii. Loans expired <= 20 days will be relocked Worst Case less any previously applied extension costs. 2. Jumbo i. Loans expired > 30 days will be considered new locks and priced at current market. ii. Loans expired <= 30 days will be relocked Worst Case less any previously applied extension costs.

Lock & Shop

No

Lender's niche & overlays

Lender's niche

Can go Borrower paid charging less than your 2.50%  lender paid comp and get paid through excess premium from lender credit

Expert Underwriting: we are competent at complex transactions as our Underwriters are very experienced.

We have very good pricing on Conforming as well as Jumbos

Home Ready Program: We specialize in this with excellent pricing and a low $575 Admin fee.

We lend on manufactured homes.

Jumbos: We have a very aggressively priced AU Jumbo program especially at lower LTVS we tend to beat most everyone else's price and it has these unique guidelines:

- Up to 49.99% DTI RSU Income Accepted

- RSU Income Accepted

- Asset Depletion Income OK

- Non Occupant Coborrowers with blended DTI's

- Minimum 1 Year Self Employed

- 10 Financed Properties

- Delayed Financing

- Up to 40 Acres

Lender's overlays

Conventional overlays.pdf

VA overlays.pdf

FHA overlay.pdf

Lender turn time

Initial underwrite (days)

2

CTC conditions review (days)

1

Initial CD (days)

1

Reviews