JMAC Lending Inc.

Basic information

QM program

• Conventional
• Home One
• Home Ready
• Home Possible
• FHA
• FHA Streamline
• FHA 203(b)
• FHA DBA
• VA
• VA IRRRL
• VA High Balance
• VA Jumbo
• USDA
• USDA Streamline

Loss payee

JMAC LENDING, INC., ITS SUCCESSORS AND/OR ITS ASSIGNS 3200 PARK CENTER DRIVE, SUITE 350, COSTA MESA, CA 92626 949.390.2688

CPL or subordinate clause

JMAC LENDING, INC., ITS SUCCESSORS AND/OR ITS ASSIGNS 3200 PARK CENTER DRIVE, SUITE 350, COSTA MESA, CA 92626 949.390.2688

Lock policies & fees

Lock policies

Lock extension

Conforming/FHA/VA/USDA/Fixed Product Only Cutoff 11:59pm PST Jumbo/Non-QM/Second/ARMs product Cut off 4:00pm PST Cost .025% per day

Relock

A lock is considered a relock if it occurs within 30 days of the expiration of the original lock. In the event that the loan was canceled or denied, the 30 days will be count from either canceled date or denied date.

Lock & Shop

Yes

Lender's niche & overlays

Lender's niche

• No minimum DSCR value as long as the loan amount is over $150K
• Unlimited cash-out up to $2M on Jumbo and up to $3M on Non-QM
• FHA DPA 101.5% CLTV, Non QM, Jumbo to $5 million

Allow lender credit to cover BPC.

Lender's overlays

No Overlays

Lender turn time

Initial underwrite (days)

1

CTC conditions review (days)

1

Initial CD (days)

1

Reviews