Central Lending

Basic information

QM program

N/A

Loss payee

Ask CL processor

CPL or subordinate clause

CPL: "We’ll need a Closing Protection Letter issued by the title company, naming Central Lending as the insured party. This protects us in case of wire or settlement issues." Subordinate Clause: "We don’t allow subordinate financing unless approved as an exception. The loan is structured to be in first lien position unless explicitly authorized otherwise."

Lock policies & fees

Lock policies

Lock extension

N/A

Relock

N/A

Lock & Shop

No

Lender's niche & overlays

Lender's niche

Fix and Flip

Ground Up construction

Fast closings - 3 days for purchases

Lender's overlays

Entity borrowers only, non-owner occupied.

Lender turn time

Initial underwrite (days)

1

CTC conditions review (days)

2

Initial CD (days)

2

Reviews