Change Lending, LLC

Basic information

QM program

• VA
• VA IRRRL

Loss payee

Change Home Mortgage c/o Shellpoint Mortgage Servicing ISAOA/ATIMA PO Box 7050 Troy, MI 48007-7050

CPL or subordinate clause

Closing Protection Letter (CPL) Clause and Title docs: Change Home Mortgage Its Successors and or Assigns 175 N Riverview Drive, Suite C Anaheim, CA 92808

Lock policies & fees

Lock policies

Lock extension

5 Days = -0.075 10 Days = -0.150 15 Days = -0.225 20 Days = -0.30 30 Days = -0.450

Relock

Locks that have been canceled or have expired without closing or being extended must go through a 30-calendar-day waiting period to be eligible for re-lock. Any re-lock request under consideration during the 30-day waiting period will be subjected to the worst-case pricing + 0.25 bps Relock Fee.

Lock & Shop

No

Lender's niche & overlays

Lender's niche

Programs we offer:

Community (No income or employment)

DSCR

Alt Doc Programs Include:

W2 Only

1099 Only

P&L Only

Asset Depletion

1 Yr Tax Return

WVOE Only

Below are some highlights of the programs we offer:

 Community Mortgage – No income and no employment on application.  Up to 75LTV, Min 680- All you need is reserves, tradelines, fico.

 Personal bank statement program- 100% of deposits. Borrower does not need to be self employed.  We use 100% of all deposits, including pay roll plus cash, zelle, venmo.. etc

 Business Bank statements- default 75% of total deposits, only 1yr self employment required ( Industry standard is 2 yrs)

 W2 Program- only 1 yr employment required, no paystub or YTD income required.

 Asset depletion- 100% of assets ( even non liquid) and divide by 60.

 Asset Assist- use any one of our programs and then you can take your assets and divide by 60 and add it to your DTI ( industry standard is divide by 360)

 Few other things to mention:

• No tradeline requirements when you have 3 scores
• Unlimited NSF’s ok
• Gift funds ok on investor and we also don’t source any large deposits
• We take the rent or the 1007 or AirDna on investor- whichever is higher
• Only 1 month asset statement required on all programs
• Private party VOM ok- no canceled checks needed
• Recently listed property ok- even for cash out loan

We also have a bank statement desk that will calculate the income for you. All you need to do is upload the 12-month bank statements here: Click Here for Income Link.

Allow lender credit to cover BPC except for community (no income).

Lender's overlays

N/A

Lender turn time

Initial underwrite (days)

2

CTC conditions review (days)

2

Initial CD (days)

1

Reviews