Equity Prime Mortgage (EPM)

Basic information

QM program

• Conventional
• Home Style (Fannie Renovation)
• Choice Renovation (Freddie Renovation)
• FHA
• FHA Streamline
• FHA 203(b)
• FHA 203(h)
• FHA 203(k)
• FHA Energy Efficient Mortgage
• VA
• VA IRRRL
• VA Renovation
• VA High Balance
• VA Jumbo
• USDA
• USDA Streamline
• USDA Rehab/Repair

Loss payee

UPDATED MORTGAGEE CLAUSE FOR FHA/VA/USDA LOANS: Equity Prime Mortgage LLC, ISAOA/ATIMA, P.O. Box 692408 San Antonio, TX 78269-2408 UPDATED MORTGAGEE CLAUSE FOR ALL OTHER LOANS: Equity Prime Mortgage LLC, ISAOA/ATIMA, P.O Box 2828 Daytona Beach, FL, 32120-2828

CPL or subordinate clause

UPDATED MORTGAGEE CLAUSE FOR FHA/VA/USDA LOANS: Equity Prime Mortgage LLC, ISAOA/ATIMA, P.O. Box 692408 San Antonio, TX 78269-2408 UPDATED MORTGAGEE CLAUSE FOR ALL OTHER LOANS: Equity Prime Mortgage LLC, ISAOA/ATIMA, P.O Box 2828 Daytona Beach, FL, 32120-2828

Lock policies & fees

Lock policies

Lock extension

30 days extension

Relock

Yes, worst case pricing +0.25

Lock & Shop

Yes

Lender's niche & overlays

Lender's niche

FHA

• Down to 500 FICO
• No FICO
• Manufactured single and doublewides
• Manual Underwriting
• Competitive pricing
• DPA 
• Solar program
• 580+ 96.5% LTV
• Streamlines
• 203K

VA

• Down to 500 FICO
• No FICO
• Manufactured single and Doublewides
• Manual Underwriting
• Competitive pricing
• 500 FICO - 100% LTV
• Cash out 100% LTV
• IRRRL
• VA reno

For all VA Loan Types

• Can lower LPC on a loan-by-loan basis - works great for IRRRL's
• 500 minimum score or No Score with non-traditional 3 trades
• No Maximum loan amount on VA high balance
• No maximum acreage
• Manufactured single and doublewide with no price adjustment
• Waive tax escrow on exempt borrowers, with a completed and signed tax exemption form (not available on IRRRL)
• AUS approve/eligible or refer/eligible with manual underwrite
• Up to 55% DTI allowed on R/E manual UW with 3 compensating factors, price adjustment over 50% DTI on all loan types except IRRRL
• Joint loans allowed (Veteran and non-veteran borrowers)

VA IRRRL all of the above and,

• Late mortgage payments in the last 12 months allowed, Must be current
• Mortgage only with or without a score, use 0 score if borrower score is under 580
• Can use IRRRL for VA investment property

Lender's overlays

    VA 55 Max DTI

Lender turn time

Initial underwrite (days)

3

CTC conditions review (days)

2

Initial CD (days)

1

Reviews