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Our Warehouse Line Can Add to Your Bottom Line!
If you have used a warehouse line of credit before or are
using one now, much of the following will be familiar to you. If you are
unfamiliar with warehousing, the following may be helpful.
- You control the scheduling of your loan closings.
- Use of a WarehouseOne facility allows you to close loans in your own name, resulting in additional
name recognition for your business.
 Loans "warehoused" by you are treated differently under RESPA
as to the disclosure of premiums received by you from the investor. You
should not have to disclose premiums on loans you close in your name.- Investors often pay higher prices for closed loans versus brokered
loans or loans funded by the investor at the closing table.
- A WarehouseOne facility
often qualifies you for correspondent status with investors, opening doors
to many additional investor relationships.
- You own the loan until it is sold which means you earn the interest up
to the date you sell the loan to an investor. This often offsets the
interest you pay for the warehouse facility and could result in positive
spread.
- You own the rights to service the loan until those rights are sold to
an investor (usually in conjunction with the sale of the loan - servicing
released), representing additional premium paid to you.
- You can take advantage of flow or mini-bulk purchase commitment pricing
from investors.
- Maximize your cash flow by warehousing only those loans that you want
to close in your name. WarehouseOne does not charge a non-utilization fee.
- Funds availability by check or by wire within 24 hours of loan submission.
- Sell your loans to any one of the many investors approved by
WarehouseOne.
- WarehouseOne does not compete with you in the primary market or your investors in the secondary market.
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