Tell me about your Wholesale mortgage lending channel? |
With a passion for “exceeding our customer’s expectations” and a commitment to operational excellence our team is well-trained on the nuances of residential Alt-A lending. Our objective is to “help you close more loans in less time”. We achieve this by creating and utilizing leading edge technology and automation tools which increase our efficiencies and reduce our costs thus we are able to pass this in the form of lower rates and larger rebates for our Mortgage Broker partners.
|
|
Where can I find Wholesale ratesheets and underwriting matrices? |
Open a trial account to gain access to your region's ratesheets and underwriting matrices.
|
|
Who is my Account Executive?
|
WLO is committed to providing our Broker partners the most knowledgeable, creative and experienced account executives of any lender. If you do not know who your WLO Account Executive is please call 888.WLO.WLO1 (956.9561) and we will provide you with the proper Account Executive to contact.
|
|
Can I speak to someone in sales? |
You should contact you WLO Account Executive directly with any sales questions. If you do not know which WLO Account Executive handles your account, please call 888.WLO.WLO1 (956.9561) for assistance.
|
| Can I price out loans online and search loan programs online? |
Yes, this can be done by accessing pricing and product engine on our website at www.wloconnect.com |
| Who can help me with a rate quote / loan scenario? |
You should contact your WLO Account Executive directly for any program and pricing questions. You can also visit our live online support.
Our experts on Exceptions, Loan Scenarios, and Deal Repair are here to immediately answer your questions.
|
| Which states do you lend in? |
WLO is a nationwide lender. Click to see States WLO lends in. |
| What types of loans does WLO do? |
WLO is the premier nationwide lender in Alt-A lending. We offer a wide variety of Pay-Option ARMs, Short-term Hybrid ARMs, Fixed Rate, HELOCs and Closed end seconds. Loans up to $2,000,000. (Contact your Account Executive for higher loan amounts. Doc types include: Full, SIVA, No Ratio and No Doc (No Income No Asset).
|
| How do I submit a loan file to your company? |
There are several options available to our Broker partners for submitting loans to WLO. |
| How and where do I export the Fannie Mae File? |
|
| Do I need to send a complete loan file when submitting? |
Yes, a complete loan submission is required for WLO to provide our Broker partners the best, fastest and most complete underwriting decision. Please refer to WLO’s Loan Submission Checklist or contact your Account Executive. |
| Can I fax a scenario to your company? |
Please submit any scenario you may have to your WLO Account Executive for prompt assistance. If you do not have a WLO Account Executive assigned to you please fax your scenarios to your local branch.
|
| Can I submit a loan without being an approved Broker? |
You may submit loans to WLO and send in your Broker package at the same time. Our Broker Approval department will work with you to get your company approved in a timely manner. |
| Where are you located? |
Online: www.WLOconnect.com
1350 Bayshore Highway, Suite 630
Burlingame, CA 94010
888.WLO.WLO1 (888-956-9561)
2400 W. Dunlap Avenue, Suite 115
Phoenix, AZ 85021
602-635-2600
|
| Does WLO have an approved appraisers list? |
WLO has an ineligible appraisers list posted on our website. A login is required to access the information. |
| What is WLO’s Mortgagee Clause / Lender Loss Payee Clause? |
PREFERRED FINANCIAL GROUP, INC.
ITS SUCCESSORS AND/OR ASSIGNS
P.O. Box 37946
Phoenix , AZ 85069-7946
Please Note: Insurance policy must reference loan number
|
| Where can I obtain my User ID and Password for logging into wloconnect.com? |
You can use our guest account (wlo) and password (guest) to gain access to our website or you can sign up for a trial account. If you're an approved broker you can contact Broker Relations at 650-616-1376. |
| How do I lock a loan? |
Loans can be locked by completing the Rate Lock Request Form and:
-
Locking online with PricingEASE
-
-
Faxing to WLO Lock Desk at (650) 616-1305
|
| What is the Rate Lock period? |
Locks are offered for 15, 30 and 40 days. Please contact your Account Executive for longer lock periods. |
| What is the lock cut-off time? |
Locks can be submitted at any time after 8:00 AM (PST) till lock cut off time. The lock cut off time is 4:00 pm (PST). |
| When will I receive a lock confirmation? |
A Rate Lock Confirmation will be sent via fax to each Broker within 24 hours of a rate lock. If a lock confirmation is not received, contact the lock desk directly at (650) 616-1372 or by email: lockdesk@wloconnect.com.
It is the Broker’s responsibility to review each lock confirmation for accuracy. If any discrepancies are noted, please contact the lock desk immediately for corrections.
|
| How can a Borrower request a change in mailing address for payment coupon? |
A change in mailing address for a payment coupon may be requested by contacting our servicing department at (866) 364-8488 or email payments@wloconnect.com . Please have the WLO loan number for reference. |
|
How can a Borrower verify if a payment has been received by WLO? |
A Borrower may directly contact our servicing department at (650) 616-1328 or by email: payments@wloconnect.com for verification if a payment has been received by WLO.
|
