LoanStream Mortgage

Basic information

QM program

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

Loss payee

OCMBC, Inc. ISAOA/ATIMA 19000 MacArthur Blvd, Suite 200 Irvine, CA 92612

CPL or subordinate clause

OCMBC, Inc. ISAOA/ATIMA 19000 MacArthur Blvd, Suite 200 Irvine, CA 92612

Lock policies & fees

Lock policies

Lock extension

Non-QM = .02 day (max 30 days) Prime = .02 day (max 30 days)

Relock

Relock fee: 0.25 worse case pricing + 0.25 relock fee. Locks expired for 30 days or more are relocked at current market with no relock fee.

Lock & Shop

No

Lender's niche & overlays

Lender's niche

NonQM loans down to 600 FICO. 

Bank Statement loans with 30% expense factor with no CPA letter needed. 

up to 85% on Nonowner Purchase -- Short Term Rental income allowed. 

Jumbo up to 90%LTV

Nonwarrantable Condos up to 75% LTV

ITIN loans up to 85% LTV

Lender's overlays

Must be experienced investor to use Short Term Rental income.

Bank statements required for P&L, 1099, and WVOE loans.

Lender turn time

Initial underwrite (days)

2

CTC conditions review (days)

2

Initial CD (days)

1

Reviews