Correspondent Lending Brochure

S I E RR A PACI F I C MOR TGAGE

NON DELEGATED CORRESPONDENT LENDING

WHY S I E RR A PACI F I C MOR TGAGE Organizations must adapt more quickly than ever before to changing customer expectations and needs.

As you strive to outmaneuver your competitors you must capitalize on highly effective internal and external relationships. Relationships that ensure your business has the tools and resources necessary to support growth initiatives. At Sierra Pacific we provide the resources that will enable you to thrive, grow and profit. More than ever before the Mortgage industry labors to maintain pace with the demands and needs of our customers.

Partnerships MATTER!

PAR TN E R W I TH S I E RR A PACI F I C MOR TGAGE

AN D E NJ OY T H E B E N E F I T S O F B E I N G A N AG E N CY D I RE CT S E LLE R

Competitive Pricing

Customer Chooses Appraisal

First Class Underwriting

Highly Skilled Support Seamless Closing and Purchase Support Exceptional Communication

Unrivaled Educational Support

Choice Marketing

This Is The Way We Do Business

PROM I S E S M AD E . PROM I SE S KE P T.

Promises Made.

Promises Kept.

WHAT S I E RR A PACI F I C MOR TGAGE O F F E RS CONVE NTIONAL FNMA Standard & High Balance Fixed Rate & ARMs

FNMA Home Ready 97% LTV/ 97% CLTV*

FHLMC Conforming & Super-Conforming

FNMA DU Refi Plus

Fixed Rate & ARMs

Fixed Rate

FHLMC Open Access Relief Finance

FHLMC Home Possible 97% LTV

*The CLTV ratio may exceed the limits stated in the matrices up to 105% only if the mortgage is an eligible Community Seconds Refer to the Subordinate Financing section

FHA Standard & High Balance Fixed Rate & 5/1 ARM

Streamline Refinance

U S DA Conforming & High Balance

Cash Out 85% LTV

Fixed Rate

VA Standard & Jumbo Loan Amounts Fixed Rate

Loan Amounts up to $1,250,000*

Rate & Term Refinances up to 100% LTV/CLTV*

Cash Out Refinances up to 100% LTV/CLTV*

IRRRL

Max Cash Out $250,000

*Veteran must have sufficient entitlement and/or down payment/equity to meet GNMA 25% Guaranty

JUMBO Sierra Expanded 90 QM Loan for Primary 1 Unit Purchases • Max 90% LTV/CLTV • Max Loan Amount $1,500,000 • Minimum FICO 720 • 30 year fixed rate

Sierra Expanded QM Loans with high FICO scores, Pristine Credit, and High Net Worth

Sierra Expanded Plus Non QM loans with high FICO scores, Pristine Credit, and High Net Worth

Sierra Choice QM Loan with lower FICO scores and lower Reserve requirements

Sierra Choice Plus Non-QM loans with lower FICO scores and lower Reserve requirements

• Max 85% LTV/ CLTV • No MI • Max Loan Amounts $2,500,000 • Minimum FICO 700 • Fixed Rates & ARMs • Eligible Assets include Gifts and Business Funds (with restrictions)

• Max 80% LTV/CLTV • DTI Ratio up to 49.9% • Max Loan Amount $2,000,000 • Minimum FICO 700 • Eligible Assets include Gifts and Business Funds (with restrictions) • Asset depletion allowed with 3% rate of return • 30 year fixed

• Max 90% LTV/CLTV • No MI • Max Loan Amount $2,000,000 • Minimum FICO 661 • Housing Payment allows up to 1x30 day last 12 months • Non-warrantable condos allowed (with restrictions) • Non-occupant co-borrower with blended ratios allowed • Bankruptcy, Foreclosure, Short Sales – 4 yr seasoning (with restrictions) • Fixed Rates & ARMs • Eligible Assets include Gifts and Business Funds (with restrictions)

• Max 90% LTV/CLTV • No MI • Max Loan Amount $2,000,000 • Minimum FICO 661 • DTI Ratio up to 48% • Housing Payment allows up to 1x30 day last 12 months • Asset depletion allowed with 3% rate of return • Non-warrantable condos allowed, (with restrictions) • Non-occupant co-borrower with blended ratios allowed • Bankruptcy, Foreclosure, Short Sales – 4 yr seasoning (with restrictions) • Fixed Rates & ARMs • Eligible Assets include Gifts and Business Funds (with restrictions)

Sierra Bam QM Loan with lower FICO score with Pristine Credit and FTHB additional requirements • Max 80% LTV/CLTV • Max Loan Amount $2,500,000 • Minimum FICO 680 • DTI Ratio up to 43% (Purchase and R/T Refi) or 40% (Cash Out refi) • Up to 4 units Primary Residence • 1 Unit - 2nd Home • Co-Borrower does not need to be a family member (with restrictions) • Gifts allowed (with restrictions) • Can use business funds for down payments (with restrictions)

© 2017 Sierra Pacific Mortgage Company, Inc. (NMLS #1788) (www.nmlsconsumeracces.org) Equal Housing Lender.

LE T U S H E LP YOU BU I LD A COM PE T I T IVE MOR TGAGE BU S I N E S S AROU N D YO U R BU S I N E S S’ S S PE CI F I C N E E DS

WE O F F E R

Direct access to your own designated purchasing team to clear your conditions for a faster, cheaper & easier purchase of your loan

Competitive Pricing and a full range of products, including a very competitive jumbo

Local underwriting and best-in-class turn times - average initial purchase review 24-48 hours

Choose your own AMC on a transactional basis and order portable appraisals in your name

State-of-the-art technology

No need for a 3rd party provider to draw closing documents or facilitate the purchase of your loan - we can draw your docs and issue quick closing package

UCD partnership with training & support

Lock expiration that is based on delivery date, with a FREE, 10-day delivery period after lock expiration

Market yourself as a direct lender with real estate agents with the help of our marketing department

Auto email notification throughout the transaction

H OW TO PAR TN E R W I TH

S I E RR A PACI F I C MO RTGAG E Our Preferred Partner Requirements Are: • Minimum unaudited net worth of $150,000 • A minimum of at least one other investor (seller of closed loan correspondent for six months preferred) • Errors and Omissions insurance coverage of $300,000; fidelity bond in amount of $300,000 • Minimum three years mortgage industry experience preferred

• Properly licensed to originate and sell loans in applicable states • Institutional warehouse line capacity of $1 million • Good standing with all regulatory, licensing, and revenue collection agencies • Owners/partners/principal officers must have acceptable background checks

© 2017 Sierra Pacific Mortgage Company, Inc. (NMLS #1788) (www.nmlsconsumeracces.org) Equal Housing Lender.

Sierra Pacific Mortgage – Correspondent Division 1180 Iron Point Road, Suite 200 Folsom, CA 95630 800-447-3386 info@spmc.com SierraPacificMortgage.com