Learn about U.S. Bank - Wholesale Mortgage

Wholesale Mortgage Division

U.S. Bank Wholesale Mortgage Division

A Non-Agency Portfolio Lender

For internal use only and not intended as advertising to any borrower, as defined in Regulation Z. This information is provided to assist Real Estate Brokers and is not a consumer credit advertisement as defined by Regulation Z.


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Introduction

U.S. Bank is the sixth largest commercial bank in the United States

Assets over $265 billion15.8 million customers 2,851 retail branches54,000 employeesNYSE symbol - USB



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Overview U.S. Bank Wholesale Mortgage Division is the

wholesale / non-conforming arm of U.S. Bank Loans are all manually underwritten A stable funding source for loans that are held

and serviced in our portfolio A U.S. Bank Account Executive will be

assigned to each mortgage company for training and service



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Non-Agency Program Highlights Programs available for purchase, refinance and cash-out All loans, first and second position, are non-conforming 90% refinance* Loan amounts to $900,000 Simplified pricing structure Home Equity Lines of Credit to 85% Loan to Value* Yield Spread Premium available FICO scores as low as 650 No mortgage insurance at any Loan to Value

*(75% in AZ, CA, FL, NV, OR, UT, WV)



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Rate Sheet and Program Guidelines


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Submitting A FileNew applications must include: certified

U.S. Bank submission form, Fannie Mae 1003 (with completed Government Monitoring section), fully executed MLOA and Title Company Customer Request Form (loans only).

Fax: 800-576-9431 or email: [email protected]

A Credit Decision will be faxed and emailed within a 24 hour Service Level Agreement



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Sample Submission Form Sample Submission Form


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Credit Decision Notification

Identifies all terms and conditions of your file Use as a cover sheet for faxing conditions to

our Underwriting department Underwriting Service Level Agreement is

3-5 business days



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Once all Underwriting conditions are cleared, a Final Approval Notice is issued

Call the closing desk to set closing (Closing date, fees, payoffs and title contact required to schedule loan closing)

1pm cut-off time for next day closings800-803-4212, option #3


Closing Desk and Funding


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Questions


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Resources Jill Ties U.S. Bank Consumer Finance

West Regional Sales [email protected]

Rick Ruzzi U.S. Bank Consumer Finance East Regional Sales Manager

[email protected]

www.usbank.com/brokerloans User IDwholesale Passcode quality

Learn about U.S. Bank - Wholesale Mortgage

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