Home Mortgage Wholesale Prime Plus Division A non-agency

1

Home Mortgage Wholesale Prime Plus 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.
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Home Mortgage Wholesale Prime Plus Division
Introduction

• U.S. Bank is the 5th largest U.S. commercial bank
  
• Asset size 354 billion Deposits 249 billion
• Loans 223 billion
• 17.6 million customers
• 3,084 retail bank branches 5,065 ATMs
• 54,000 employees
• NYSE symbol USB
• 1.2.2013

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.
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Home Mortgage Wholesale Prime Plus Division
Overview

• U.S. Bank Home Mortgage Wholesale Prime Plus
  Division is a wholesale / non-conforming lender
• 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

Home Mortgage Wholesale Prime Plus Division
Non-agency Program Highlights

• Programs available for purchase, refinance
  cash-out
• All first and second position loans are
  non-conforming
• Refinance and purchase to 90 loan to value
• Loan amounts to 2 million
• Simplified pricing structure
• Home Equity Lines of Credit to 85 loan to value
  
• No mortgage insurance at any loan to value
  (80 in AZ, CA, FL, MI, NV) See rate sheet for
  state specific restrictions.

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

Home Mortgage Wholesale Prime Plus Division
Rate Sheet and Program Guidelines
Example
Example
Example
Example
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Home Mortgage Wholesale Prime Plus Division
Submitting A File

• Email usbankstips_at_usbank.com Fax [phone]
• New applications must include
• Borrowers Authorization signed dated by
  borrower(s)
• Certified U.S. Bank submission form
• Fannie Mae 1003 signed dated by broker
• Broker-issued Good Faith Estimate (GFE) (required
  for loans only)
• U.S. Bank GFE Itemization Form (required for
  loans only)
• Mortgage Loan Origination Agreement signed
  dated
• Anti-Steering Certification signed dated by
  borrower(s) (required for loans only)
• Settlement Service Providers List (required for
  loans only)
• MLOA ASC may be provided as part of
  underwriting requirements for apps received from
  borrower(s) by phone or mail.

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.
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Home Mortgage Wholesale Prime Plus Division
Submission Package example
U.S. Bank Submission Packet includes
U.S. Bank Application Submission Form, Borrower
Authorization,Fannie Mae 1003, broker-issued GFE
(loans only), U.S. Bank GFE Itemization (loans
only), Mortgage Loan Origination Agreement,
Settlement Service Providers List (loans only)
Anti-Steering Certification. Contact your U.S.
Bank Account Executive for a submission packet.
(unique to each broker code)
Sample Application Submission Form
Sample Application Submission Form
MLOA ASC may be provided as part of
underwriting requirements for apps received from
borrower(s) by phone or mail.
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Home Mortgage Wholesale Prime Plus Division
Submission Package - 1003
U.S. Bank Submission Packet includes
U.S. Bank Application Submission Form, Borrower
Authorization,Fannie Mae 1003, broker-issued GFE
(loans only), U.S. Bank GFE Itemization (loans
only), Mortgage Loan Origination Agreement,
Settlement Service Providers List (loans only)
Anti-Steering Certification. Contact your U.S.
Bank Account Executive for a submission packet.
(unique to each broker code)
MLOA ASC may be provided as part of
underwriting requirements for apps received from
borrower(s) by phone or mail.
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Home Mortgage Wholesale Prime Plus Division
Credit Decision Notification

• A Credit Decision will be faxed and emailed
  within a 24 hour Service Level Agreement
• Identifies all terms and conditions of your file
• Use as a cover sheet to fax or email conditions
  to our Underwriting department
• Underwriting Service Level Agreement is3-5
  business days for initial underwriting review

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.
10

Home Mortgage Wholesale Prime Plus Division
Change Acknowledgement Form

• - Any change to an application in process
  requires a completed Change Acknowledgement Form
• Corresponding increases to settlement charges
  associated with changes must always be provided
• - Any changes to fees after initial submission
  may result in closing delays or broker credits
  back to customer

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Home Mortgage Wholesale Prime Plus Division
Closing Desk and Funding

• 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.
12

Home Mortgage Wholesale Prime Plus Division
Resources

• Jill Ties U.S. Bank Home Mortgage
  Wholesale Prime Plus
• West Divisional Manager
• 952-936-5831
• jill.ties_at_usbank.com
• Rick Ruzzi U.S. Bank Home Mortgage Wholesale
  Prime Plus
• East Divisional Manager
• 952-936-5832
• richard.ruzzi_at_usbank.com
• www.usbank.com/brokerloans
• Contact your U.S. Bank Account Executive for User
  ID/Password