PwrTPO (formerly PowerTPO)

Basic information

QM program

• Conventional
• Home One
• Home Ready
• Home Possible
• FHA
• FHA Streamline
• FHA 203(b)
• FHA DBA
• VA
• VA IRRRL
• VA High Balance
• VA Jumbo
• USDA
• USDA Streamline

Loss payee

Lower, LLC dba PwrTPO ISAOA/ATIMA 5950 Symphony Woods Rd., Ste 312 Columbia, MD 21044

CPL or subordinate clause

Lower, LLC dba PwrTPO ISAOA/ATIMA 5950 Symphony Woods Rd., Ste 312 Columbia, MD 21044

Lock policies & fees

Lock policies

Lock extension

Extension requests must also be submitted by 8:00 PM EST. All locks expire at 8:00 PM EST on the lock expiration date. 1-3 days days 7 bps 7 days 12.5 bps 14 days 25 bps 21 days 37.5 bps 30 days 50 bps

Relock

If a lock is allowed to expire without obtaining an extension, the loan can be re-locked for 15 days under a worse-case pricing scenario (WCP) plus an additional re-lock fee of .125 charged to the borrower. A loan may only be re-locked once.

Lock & Shop

Yes

Lender's niche & overlays

Lender's niche

• Average 14 calendar days from submission to CTC. 
• Turn times on closing docs after CTC 4 hours
• Direct communication with all operations, UW, Closing
• Scenario Desk
• DPA Programs
• TBD's
• Lock and Shop
• Manual UW on Gov't loans
• 580 on FHA, VA
• Agency below 620
• No Score Agency
• DELRAP, Condo desk
• FHA SUA
• No offshore- All US based

Lender's overlays

N/A

Lender turn time

Initial underwrite (days)

1

CTC conditions review (days)

1

Initial CD (days)

1

Reviews