Bridge
How long must a property have been owned to qualify for a seasoned refinance?
More than 180 days.
What is the minimum FICO score required for borrowers in this rental program?
660
What is the monetary reward for a referrer under the current referral structure?
$500
You can got to a state's X website in order to search for a borrower entity and often times pull Articles of Organization
Secretary of State
I’m tall when I’m young, and I’m short when I’m old. What am I?
A candle
As of 1/15/25 what is our floor rate?
6.750%.
What is the timeframe for a referee to submit a loan after a referral to remain eligible?
180 days
For a rental loan you can see the borrower anticipated cash to close, or cash in hand, under what tab of the left rail?
The Uniscreen tab, and then navigate to "Details of Transaction"
If sq ft are being added to the property or the layout is being changed, this type of insurance is required:
Builders risk
A first-time X type of borrower is specifically ineligible under this program?
First-time homebuyers.
What platform will be used to manage referral payouts and tracking in the new process?
PartnerStack.
If the insurance agent is unable to provide cover that is equal to or above our total loan amount, we need this document to accompany the evidence and invoice/receipt..
the RCE (Replacement Cost Estimator)
What is the minimum FICO score required for borrowers to qualify for expanded rehab limits of up to $500,000?
660
If a property is legal non-conforming, what must be done in order to ensure we can lend on it?
The borrower must obtain a rebuild letter from the county
What is the promotional reward for referrals that close between January 6th and March 31st?
$1,000 for the referrer.
What has to be broken before you can use it?
An egg
The more of me you take, the more you leave behind. What am I?
Footsteps.
What is the seasoning requirement for a borrower to qualify for a cash-out refinance on an free and clear property?
No seasoning is required.
What are the payout tiers for referrers who close more than one referral within a calendar year?
For how long is a FICO score valid according to the guidelines, and what happens if it expires during the loan process?
The FICO score is valid for 180 days from the creation date of the report to the loan application submission date. If it expires during the loan process, it does not need to be re-pulled as long as the application was submitted within the 180-day timeframe.