Warehouse Line Company Information

There are two types of funding for mortgage bankers table funding and warehouse lines

Warehouse Line Company Information: "Our entire warehouse line program is managed by mortgage bankers, not bankers.

We warehouse and fund all A paper products which include FHA, VA, conventional and jumbo loans. Approvals for funding include direct endorsement (FHA), VA automatic or prior approved (VA), DU and LP.

There are no legal preparation fees, no annual renewal fees or no non-usage fees to pay with obtaining this warehouse line.

The average time for approval after receiving a complete package is approximately two weeks or less.

We only require that you fax us the key documents needed 24 hours prior to the funding. No need to overnight us a complete package. We also offer same day funding requests at no additional charge.

The amount of the line requested is determined by the performance of the company. We do require a minimum audited net worth of $250,000.

The funding percentage on each 'A' loan is up to 100% of the loan amount. There is no 'haircut' in these instances.

There are no set net worth ratio's to establish the warehouse line amount.

This is a non-directed line, which means you do not have to sell the loans to one investor. You can sell them to any one of the investors on our approved investor list."

Benefits and Advantages
Establishes a reputation for your company with consumers, builders, brokers and real estate agents to close and fund loans in your own name. We fund within 24 hours of request and in most cases, funds can be sent the same day of receipt of your information. This method of funding helps keep both your customers and agents content by paying for the entire transaction at the closing.Correspondent and wholesale lenders typically pay more for closed loans as well as charging you less fees. The fees brokers can earn are limited. This method of funding increases profitability by utilizing available Warehouse Lines to fund your current production into the secondary market.No more need for the Disclosure of Service Release Premiums on the HUD-1 Settlement statement as required by RESPA. Since you are closing the loan in your own name, your company is exempted from RESPA to disclose the SRP's, unlike table funded transactions.Your company gets to earn the interest of the note rate during the warehouse period, which makes up for most or all of the interest that you are paying for the facility.Your company gets to control the entire settlement and funding date of the loan closing. This eliminates the worry of promised wires from your table funding lenders, which rarely arrive on time.Enables your company to grow at a faster pace. Growth is limited without the use of a warehouse line.