Novus Mortgage

Basic information

QM program

• Conventional

Loss payee

JSB Mortgage Corporation, a California Corporation DBA Novus Mortgage ISAOA/ATIMA 1000 Corporate Center Dr. Suite 555 Monterey Park, CA 91754 Loan Number:

CPL or subordinate clause

JSB Mortgage Corporation, a California Corporation DBA Novus Mortgage ISAOA/ATIMA 1000 Corporate Center Dr. Suite 555 Monterey Park, CA 91754

Lock policies & fees

Lock policies

Lock extension

2 Days 0.125 7 Days 0.250

Relock

Relock Policy Worse case pricing + 0.250%

Lock & Shop

No

Lender's niche & overlays

Lender's niche

P&L only and VOE only products (no bank statements needed to support the income).

We have 3 Series of Non-QM products: Essential series, Choice series and Select Series.

1. Essential products provide more lenient/easy-to-qualify guidelines (such as no required     reserves up to certain loan amount/LTV), your Essential Prodcuts.

2. Choice products offer flexible options at competitive prices for well-qualified borrowers.

3. Select Product is built for Brokers, priced to Win. Our Sharpest NonQm pricing. Priced to     Perform.

We also launched Closed End Seconds

• P&L and WVOE
• DSCR
• 1099
• Loan Amount up to $1,000,000

Lender's overlays

None    

Lender turn time

Initial underwrite (days)

1

CTC conditions review (days)

1

Initial CD (days)

1

Reviews