Open Mortgage Wholesale, Roundhouse Lending

Basic information

QM program

• Conventional
• Home Ready
• Home Possible
• FHA
• FHA Streamline
• FHA DBA
• VA
• VA IRRRL
• USDA

Loss payee

GenWay Home Mortgage Inc., ISAOA/ATIMA 2801 Network Blvd., Suite 600 Frisco, TX 75034

CPL or subordinate clause

GenWay Home Mortgage Inc., ISAOA/ATIMA 2801 Network Blvd., Suite 600 Frisco, TX 75034

Lock policies & fees

Lock policies

Lock extension

0.025 cost per day

Relock

Subject to worst case pricing and 0.25 cost

Lock & Shop

No

Lender's niche & overlays

Lender's niche

FHA VIP - 96.5% LTV FHA Alt Doc - WVOE From a Valid Employer with Web Presence and Active on SOS, providing two years of income. Supported with a 1 Month Paystub, and no other income docs required.

FHA Down Payment Assistance (3.5% with Silent Second or up to 5% Fully Amortized) DreamBuilder (Earned Equity product - 3.5% ITIN) NonQM - WVOE NonQM - P&L Only NonQM - DSCR

***WARNING*** DREAMBUILDER PROGRAM - extended underwriter turn times. Prepare for 45-60day closing.  TBD UW preferred on this product

Lender's overlays

Overlays on DPA & FHA. 

2 tradelines less than 12 months will downgrade to Manual Underwriting

Lender turn time

Initial underwrite (days)

2

CTC conditions review (days)

2

Initial CD (days)

1

Reviews