Loan Factory Direct - Rocket

Basic information

QM program

• Conventional
• Home Ready
• Home Possible
• VA
• VA IRRRL

Loss payee

Loan Factory, Inc. Its Successors And/or Assigns 2195 Tully Road, San Jose, CA 95122

CPL or subordinate clause

TEXAS: LOAN FACTORY. INC, 2195 Tully Road, San Jose, CA 95122 ALL OTHER STATES LOAN FACTORY. INC, ISAOA/Its Successors and/or Assigns. 2195 Tully Road, San Jose, CA 95122

Lock policies & fees

Lock policies

Lock extension

Rocket offers a 5 day free extension that can be taken within 5 days of lock expiring. Loan must be funded and the signed package uploaded by lock expiration. Delays in purchasing may incur extension fees; however, we have up to 15 padlock extension days to use as needed, so less of but still a concern.

Relock

N/A

Lock & Shop

Yes

Lender's niche & overlays

Lender's niche

Rocket has super easy UW as we UW to the DU/LP findings.

Speed to Close - 15 days or less to close a loan

Able to talk with a UW at anytime

Scenario Hotline

Dedicated Team of AE, UW and Closers

Apostilles are disallowed at closing

Lender's overlays

N/A

Lender turn time

Initial underwrite (days)

2

CTC conditions review (days)

1

Initial CD (days)

1

Reviews