Bridge
If a borrower fails the credit check, and tries to submit a newly formed entity, what happens
No submissions approved for 180 days for that entity (unless bwr qualifies organically)
What is the only food that never spoils?
Honey
Max cash out allowable
$500k
The Polio vaccine was created in Pittsburgh in 1950 by this man
Jonas Salk
Name the 5 states we currently cannot transact in
Utah, New Mexico, Mississippi, Vermont, Rhode Island
What is the exposure limit for a standard borrower with and without PIF
without PIF = 3 loans or 1M
With PIF = 5 loans or 3M
Dave Grohl, front man for the Foo Fighters is formerly the drummer of which grunge band?
Nirvana
Max loan amount for rental loan
$2 million
This building, located at the University of Pittsburgh, is the second tallest university building in the world
Cathedral of Learning
Borrowers with greater than 5 infill exits, can select up to what LTTC %
90%
Double escrow transactions are capped by what?
Lesser of purchase price or AIV
According to the USGA, how many golf clubs are allowed to be in your golf bag during a round of golf?
14
What is the max CU score that doesn't trigger a secondary valuation?
Pittsburgh has more of these per capita than any other city in the country (12 per 10,000 residents)
Bars
What is the reserve calculation for an infill loan?
Down payment + 12 months of full interest payments (removed the HB reserve requirement)
What’s the recourse for a borrower with a bounced payment
Must have PIF to qualify
In 2019 this Yankee pitcher became the first unanimous selection to the baseball Hall of Fame
Mariano Rivera
What needs to happen in order to use the AVM as the supporting value on rental loan?
The value needs to be within 10% of the appraised value and FSD score needs to be <= .10
Carnegie museum of natural history houses the very first of these in the world
T-Rex Skeleton
Minimum DSCR on portfolio loan
1.10
Borrower has a bridge seasoned refinance in servicing. Wants to refi that again and increase their holdback to add an ADU. Can this be done? If so, what is the process?
Trick question, we cannot refinance an already existing refinance (delayed purchase refi is the exception)
Which astronomer is name-dropped in "Bohemian Rhapsody" (bonus points if you sing it)
Galileo
A borrower is using our cash out refi product to buy out their business partner, when do they transfer the deed to their own entity?
The Pittsburgh Agreement, signed 1918 between these two countries, agreed to form a new nation
Czech Republic and Slovakia
How many units in the portfolio must be leased?
75%