Emporium

Basic information

QM program

N/A

Loss payee

Emporium TPO LLC ISAOA/ATIMA P.O. Box 7050 Troy, MI 48007-7050

CPL or subordinate clause

Emporium TPO LLC ISAOA/ATIMA P.O. Box 7050 Troy, MI 48007-7050

Lock policies & fees

Lock policies

Lock extension

Cut off time is 6:30pm CT - 4:30 pm PST We will allow up to 30 days in extensions, past that requires an exception. We charge .01% per day

Relock

Re-locks on loans that have been expired for up to 30 days are subject to worst case pricing and 0.250 re-lock fee. Any prior costs or fees will carry over to the new lock (extensions, etc.).

Lock & Shop

No

Lender's niche & overlays

Lender's niche

We allow premium pricing on business purpose loans on select states. With BPC pricing, you can keep the lender credit (on top of your BPC) or split it with your client. 

DSCR Loans:  We accept investors that are currently renting and FTHB. 

FTI with no LTV hit with Embark 

3 Month Seasoning required for cash out on Embark 

Self-Employed or Wage Earner with Unscheduled Income?

Unscheduled income is eligible under our Full Doc program! We accept brokers with clients who work seasonally, overtime or have bonuses.

Unscheduled Income Accepted*
Bonus
Holiday/Seasonal
Overtime
Commission
Non-taxable Income
and more!

Lender's overlays

WY is for Business Purpose Loans only.

Not accepting business purpose loans in Baltimore, MD and Philadelphia, PA 

Lender turn time

Initial underwrite (days)

1

CTC conditions review (days)

2

Initial CD (days)

1

Reviews