The Funding Pool By RanLife

Basic information

QM program

• Conventional
• FHA
• FHA DBA
• VA
• USDA

Loss payee

N/A

CPL or subordinate clause

N/A

Lock policies & fees

Lock policies

Lock extension

Lock Extension Fees: 1 Day - .02 4 Days - .06 9 Days - .130 15 Days - .220 30 Days - .375 UHC lock extension is $25 a day with a max of 30 days.

Relock

Relock – Under 30 days, worst case plus extensions. 31-59 days worst case. 60+ new lock. - Worse Case Pricing Applies to: ARM to Fixed Conv to Govie 0-180 months to 181 to 360 months And vice versa for all the above

Lock & Shop

Yes

Lender's niche & overlays

Lender's niche

Non QM – Mortgages that do not utilize AUS

• ITIN
• Asset depletion
• Bayview DSCR
• WAB DSCR
• Deephaven
• DSCR DSCR 5-9 Unit
• Bank statement
• Construction loans
• Deephaven Second Mortgage

DPA | HFA Down Payment Assistance

• UT Housing
• ID Housing 1st
• ID Housing 2nd
• ID Housing Forgivable 3rd
• WA Housing – HSA Advantage
• TX Housing
• The National
• Bridge loan
• Arizona Housing

Agency Product

• Government Products
• Conventional Products

Non Agency

Despite most products being titled “Jumbo”, these loans can be used for a myriad of scenarios and amounts, including under the conforming limits. See each loan minimum and max.

• Bayview Jumbo AUS
• Bayview Jumbo Plus
• Bayview Investor Plus
• WAB Portfolio Jumbo QM and Non-QM
• WAB Express
• WAB Expanded QM and Non-QM
• Deephaven– Expanded Prime
• Deephaven Credit Event Loan – Non-Prime

Lender's overlays

Our DPA requires a 45% DTI backend ONLY if your below a 660 fico.  Max income is Qualifying Income at 160% AMI.  

Lender turn time

Initial underwrite (days)

3

CTC conditions review (days)

1

Initial CD (days)

1

Reviews