Conquer the Non-QM Market
Our Toolbox is designed to provide additional support and resources for those looking to gain an advantage over their competitors in the Non-QM space.
Toolbox
Service Level Agreement
We operate 100% differently from the entire mortgage industry. Please note our posted timelines are the times for completion of each stage. All exceptions should be approved prior to submission for Set-Up in CANDY. In order to make sure that we adhere to our Service Level Agreements (SLAs) we also require that our partners do their best to submit UW conditions within the 5-day timeframe below. Files are put on hold after 5 days of inactivity. Any submissions after 2 PM PST are considered a “submitted” on the following business day.
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Loan Set-up
Initial Disclosure Pre-Underwriting Submission }
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Up to 1 Day |
| Initial Underwrite | Up to 2 Days |
| Conditional Review | Up to 2 Days |
| Final Underwrite (CTC) | Up to 1 Day |
| Locked LE | Same Day |
| Initial CD | Same Day |
| Docs Out/Closing | Up to 2 Days |
| * Note: – Weekend/holiday request will be completed by next business day. | |
Appraisal Orders
The Uniform Standards of Professional Appraisal Practice (USPAP) codifies the quality control standards applicable for real property, personal property, intangible assets, and business valuation appraisal analysis and reports in the United States and its territories. Bridgeway Lending Partners LLC d/b/a/ LenderMac adheres to and follows all USPAP regulatory guidance as it pertains to the quality control of appraisals. Some of the guidance is expressed here for your convenience. This includes, but is not limited to, the following:
- No broker owned or operated Appraisal Management Company (AMC) is allowed.
- Appraisals are valid up to 120 days from the date of appraisal and the promissory note date cannot be more than 120 days from the appraisal issuance date.
- Appraisals older than 120 days will require a re-certification of value.
- Appraisals older than 180 days are not valid and will not be accepted.
- Appraisal transfers are permitted but will require an Appraisal Transfer Letter and must meet the Home Valuation Code of Conduct (HVCC) and the Appraiser Independence Requirements (AIR).
- Appraisals must be in the name of LenderMac LLC.
- All Appraisals can be ordered directly through Mercury Network either by clicking on the Order Appraisal Button inside Candy or by clicking the link provided to the right. Please select the AMC that you would like to use from our approved list. Please note that you may not go to any of our approved AMC websites directly. All orders must go through the Mercury Network.
- LenderMAC orders an appraisal review on each appraisal submitted. This review will consist of a standard appraisal review or an interior or exterior BPO.
- Loan amounts over $2mm will require 2 appraisals from two different AMCs for all non-GSE loans.
- Appraisal reviews must be cleared prior to ordering loan documents.
Approved AMCs
Guides and Policies
Forms
General Forms
- Anti-Steering Disclosure
- Appraisal Delivery Waiver
- Automatic-Payment Authorization Form
- Borrowers's Certification & Authorization
- Borrower Contact Consent Form
- Buydown Calculator
- Consent to Share Tax Returns
- CO Smoke Detectors and Water Heater Certification Form
- Credit Inquiry Form
- Enhanced Collateral Review – Geographic Areas List
- Exception Request
- Fannie Mae Form 1005 - Verification of Employment
- Gift Letter
- Gift of Equity Letter
- HELOC Initial Advance Request
- LenderMAC Credit Inquiry Form
- LenderMAC Mortgagee Clause
- Loan Compensation Plan Addendum
- MDIA Form
- Non-Occupant Co-Borrower Certification
- Notice of Changed Circumstances
- Occupancy Certification
- PIW Property Inspection Waiver Disclosure
- SSA-89 Form
- Self-Employed Business Narrative
- Submission Form
- Texas-Section-50(a)(6)-12-Day-Notice
- VA Authorized Agent Sponsorship/Renewal Form
- Verification of Mortgage Rent
Marketing
White-label Unbranded Broker Flyers
Note: These flyers are for BROKER USE ONLY. Not for use by Account Executive
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