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Learn about U.S. Bank - Wholesale Mortgage

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  • 1. 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.
  • 2. Introduction
    • U.S. Bank is the sixth largest commercial bank in the United States
    • Assets over $265 billion
    • 15.8 million customers
    • 2,851 retail branches
    • 54,000 employees
    • NYSE symbol - USB
    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.
  • 3. 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
    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.
  • 4.
    • 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)
    Non-Agency Program Highlights 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.
  • 5. Rate Sheet and Program Guidelines Sample
  • 6. Submitting A File
    • New 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_address]
    • A Credit Decision will be faxed and emailed within a 24 hour Service Level Agreement
    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.
  • 7. Sample Submission Form
  • 8. 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
    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.
  • 9.
    • 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 closings
    • 800-803-4212, option #3
    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. Closing Desk and Funding
  • 10. Questions
  • 11. Resources
    • Jill Ties U.S. Bank Consumer Finance
    • West Regional Sales Manager
            • 952-936-5831
            • [email_address]
    • Rick Ruzzi U.S. Bank Consumer Finance
    • East Regional Sales Manager
            • 952-936-5832
            • [email_address]
    • www.usbank.com/brokerloans
    • User ID wholesale
    • Passcode quality