Home Warehouse Benefits
Benefits of Our Warehouse Funding Program
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World Net Capital I's objective is to create a profitable business relationship between our Customers and our Team. Our Warehouse Bank can make secure loans approved and underwritten by our Team according to the various agency guidelines, and you will be able to make a profitable spread on each mortgage using our Warehouse Funding.

 

The use of our Warehouse facility helps you establish a reputation for your company to close and fund loans in your own name. We fund within 24 hours of request and in many cases, funds can be sent the same day of receipt of your information.

 

We typically pay more for closed loans than our competitors when you use our Warehouse Funding Facility, and the interest on the funding is the same as the mortgage interest on the loan. The fees brokers can earn are limited to what they receive on the "front end" at closing. Using our Warehouse Facility to fund your current production into the secondary market increases your profitability since you receive a margin when we sell the loans into the secondary market.

 

You control the settlement and funding date of the loan closing. This eliminates the worry of promised wires from your table funding lenders.  Our Warehouse Facility will enable you to grow at a faster pace; growth is limited without the use of warehouse funding. There are no haircuts and you can expand your warhouse limits at any time without paying additional fees if your loan volume and sales pace exceed your initial warehouse amount.

 

You only need to maintain a minimum net worth of $50,000 under our program which provides you with maximum flexibility. Additionally, you do not have to maintain a minimum monthly sales volume, and there are no fees to pay if you do not use the warehouse funding facility.

 

You originate the loans and process them. Our Team underwrites the loans, performs QA and QC, prepares closing documents, and wires you the funds at closing. Our bank buys the loan from you after closing when they receive the complete closing package, including an assignment of ownership and allonge.  Our bank subsequently transfers the loan to one of our investors or securitizes it in a pool.

 

These terms are much better than most of our competitors.

 

 

Last Updated on Thursday, 19 June 2014 15:52
 

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