Royal Business Bank

Basic information

QM program

N/A

Loss payee

ROYAL BUSINESS BANK ISAOA/ATIMA 1055 WILSHIRE BLVD., STE 1220 LOS ANGELES, CA 90017-3103 LOAN NUMBER: 287XXXXXXX

CPL or subordinate clause

ROYAL BUSINESS BANK ISAOA/ATIMA 1055 WILSHIRE BLVD., STE 1220 LOS ANGELES, CA 90017-3103 LOAN NUMBER: 287XXXXXXX

Lock policies & fees

Lock policies

Lock extension

30 Day Max Extension Only 2 Extensions Allowed 7-Day Extension = 0.125% to Fee 15-Day Extension = 0.25% to Fee

Relock

Worst case pricing, relock fee 0.25% to fee.

Lock & Shop

No

Lender's niche & overlays

Lender's niche

Royal Business Bank specializes in Non-QM Portfolio loans.

1. RBB Asset Utilization 3/6 ARM & 5/6 ARM 

No Income or Employment is required, the borrower is qualified with 12-24 month cash reserves deposited into RBB Term CD. (13 month or 25 month terms)

2. RBB Portfolio - Alt Doc 5/6 ARM - Qualifying Ratios 43%/45% with fully indexed rate

Income verified through WVOE or CPA letter & Profit & Loss statements. (Borrower signed P&L are acceptable with an additional 0.25% hit to the rate.

Lender's overlays

N/A

Lender turn time

Initial underwrite (days)

3

CTC conditions review (days)

3

Initial CD (days)

35

Reviews