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| BASIC GUIDELINES |
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Bay Financial warehouse lending provides funding for conforming, government, Jumbo, Super Jumbo, Alt "A" and Sub-Prime residential mortgage loans to mortgage bankers with a minimum net worth of $100,000 on a national basis. For further information on Bay Financial's program parameters please contact Brian Heipp.
- Minimum Net Worth of $100,000 (at least 75% liquid)
- Experienced Management (at least 3 years in business)
- Purchase and Sale Structure
- Minimum Line Amount of $1 Million
- Maximum Line Amount of $ 3 Million
- Maximum Leverage of 10 times Tangible Equity
- Allowable Products include "A," Alt "A," FHA and VA Loans, Conforming, Jumbo, Super Jumbo Loans and Sub-Prime"
- Correspondent Relationships
- Minimum Errors & Omissions and Fidelity Bond Coverage of $300,000
- Appropriate Licensing
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