Visio Lending

Investor Mortgage Finance, LLC ISAOA/ATIMA 1905 Kramer Lane, Suite B-700 Austin, TX 78758

Lender requires 24 month chain of title, with considerations where available, copy of any deed within the last 24 months, tax certification or search with due dates and amounts due, wire instructions, patriot act search, and CPL. TITLE COMMITMENTS ARE NEEDED WITHIN 5 BUSINESS DAYS.

Underwriting Guidelines apply to loans with Rate Locks on or after the Effective Date through the Rate Lock expiration date. Loans must
close by the Rate Lock expiration date.
- Loans will receive a 45 day rate lock from appraisal paid date or third party appraisal approved date
- Preprocessing:
o Locked loans have 5 calendar days to enter pre-processing, i.e., 40 days must remain on lock to enter processing.
o Management or lock desk will manually bust locks that don’t make it to processing in time by moving the expiration
date in the system to the 5th day.
o Loans with the busted, expired locks will relock at STP with the new 45 day lock.
o Sales ops will kickback loans if they are not properly priced on the correct rate sheet.
- Processing:
o Locked loans must be submitted to QC with at least 6 days remaining on the lock
o Loans can relock within 7 days of expiration if not yet in QC
o Loans with expired rate locks must be relocked within 2 business days or will be placed on hold One float down is available per loan. Rates must drop by at least 25 basis points. The loan will relock on the current day rate sheet and keep the same rate lock expiration date. The original lock must have at least 10 days remaining. Loans with float downs may not have a rush/next day closing date.

Loans will be relocked on that days rate card