NMBNOW

Basic information

QM program

N/A

Loss payee

Nationwide Mortgage Bankers, ISAOA/ATIMA, 1305 Walt Whitman Rd, Suite 100, Melville, NY 11747

CPL or subordinate clause

Nationwide Mortgage Bankers, ISAOA/ATIMA, 1305 Walt Whitman Rd, Suite 100, Melville, NY 11747

Lock policies & fees

Lock policies

Lock extension

0.02% per day (max 15 days and 2 times extension)

Relock

Worse case pricing + 0.30% relock fee

Lock & Shop

No

Lender's niche & overlays

Lender's niche

Full suite of Non-QM products including Bank Statements, 1099, WVOE, Asset Depletion, DSCR (including No Ratio (<0.75%) DSCR), ITIN and Foreign National. We allow up to 55% DTI and 90% LTV

Lender's overlays

Minimum 660 Fico

Lender turn time

Initial underwrite (days)

1

CTC conditions review (days)

1

Initial CD (days)

1

Reviews