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One of the warehouse line providers that WNC represents offers a very competitive non-delegated correspondent program. You can read more about the program below.
Full Menu of Products-The provider offers a full menu of products including FHA, VA, USDA, Conforming conventional, jumbo, and jumbo portfolio ARMs.
Specialty Loan Programs – The provider offers specialty programs such as “Doctor’s loans” and “Non-Resident Alien Loans”.
Exceptional Jumbo ARM Pricing- The provider offers jumbo ARM loans ( 5/1. 7/1 and 10/1 ARMs) that are held in the bank’s investment portfolio. The provider day-in and day-out offer some of the most competitive pricing in the Country.
Construction Loan Programs-With some state restrictions, the provider offers competitive one-time close and two-time close construction loans to its non-delegated correspondents and its brokers. The construction loans are all closed in the name of the provider.
48 Hour Underwriting Turn Times- The provider constantly underwrites submission in 48 business hours or less.
Immediate Purchase off Warehouse Line- For loans that are closed using their warehouse line that are being originated for sale to the provider, the loans are purchased off the line within 24-48 hours after warehoused. This allows you to turn your line faster and close more with a smaller line.
Access to Programs
Combining the Warehouse Line with the Correspondent Program – This provider’s correspondent program is a big plus to their competitive warehouse line program. If you are looking for a line of $5 million or more, the combination would be available to you.
Brokering to the Provider- The provider’s programs are available on a broker basis even if you are not a warehouse line customer.
Leveraging Their Warehouse Line- You can combine a warehouse line and non-delegated correspondent relationship and leverage this by brokering loans to the provider. Getting approved for a warehouse line and correspondent with this provider automatically gets you approved as a broker. This would allow you to access the specialty programs and maintain a smaller warehouse line.