Real TPO

Basic information

QM program

N/A

Loss payee

Real TPO, LLC ISAOA/ATIMA 1662 Hillhurst Avenue, Suite B Los Angeles, CA 90027

CPL or subordinate clause

N/A

Lock policies & fees

Lock policies

Lock extension

2.5 bps per day, max 10 days

Relock

A relock is available only after a day has passed since the expiration date. Locks that are requested for relock within 30 days of the initial lock expiration date will be renewed for same period as the original lock and are subject to worse case pricing plus a 0.25% relock cost, in addition to all previous extension and relock costs. After 30 days of the initial lock expiration date, the lock is eligible to be newly locked at current market pricing without penalty. A lock that is requested for a new loan (with a new loan number) with the same property address as a loan that was canceled within the past 30 days will be subject to worse case pricing compared to the canceled loan plus a 0.25% relock cost in addition to all previous extension and relock costs.

Lock & Shop

No

Lender's niche & overlays

Lender's niche

NON QM - BORROWER PREPARED P&L FOR TEXAS AND CA , PNL ONLY WITH NO BANK STATEMENTS, FTHB DSCR, ITIN, FOREIGN NATIONAL PNL CLOSED END SECONDS, DSCR CLOSED END SECONDS AND MORE

Allow lender credit to cover BPC for DSCR only.

Lender's overlays

DEPENDS ON THE PRODUCT- WE DONT HAVE THAT MANY UNIQUE OVERLAYS

Non-owner not allowed

Lender turn time

Initial underwrite (days)

2

CTC conditions review (days)

2

Initial CD (days)

1

Reviews