Master the Non-QM Market with LoanWyse
Our Toolbox is designed to provide additional support and resources for those looking to gain an advantage over their competitors in the Non-QM space.
The Uniform Standards of Professional Appraisal Practice (USPAP) codifies the quality control standards applicable for real property, personal property, intangible assets, and business valuation appraisal analysis and reports in the United States and its territories. OptionWide Financial Corporation d/b/a LoanWyse adheres to and follows all USPAP regulatory guidance as it pertains to the quality control of appraisals. Some of the guidance is expressed here for your convenience. This includes, but is not limited to, the following:
- No broker owned or operated Appraisal Management Company (AMC) is allowed
- Appraisals are valid up to 120 days from the date of appraisal and the promissory note date cannot be more than 120 days from the appraisal issuance date.
- Appraisals older than 120 days will require a re-certification of value.
- Appraisals older than 180 days are not valid and will not be accepted.
- Appraisal transfers are permitted but will require an Appraisal Transfer Letter and must meet the Home Valuation Code of Conduct (HVCC) and the Appraiser Independence Requirements (AIR).
- Appraisals must be in the name of OptionWide Financial Corporation.
- All Appraisals can be ordered directly through Mercury Network either by clicking on the Order Appraisal Button inside of Custom Home Loan Origination Engine (CHLOE) or by clicking the link provided to the right. Please select the AMC that you would like to use from our approved list. Please note that you may not go to any of our approved AMC websites directly. All orders must go through the Mercury Network.
- LoanWyse orders an appraisal review on each appraisal submitted. This review will consist of a standard appraisal review or an interior or exterior BPO.
- Loan amounts over $2mm will require 2 appraisals from two different AMCs for all non-GSE loans.
- Appraisal reviews must be cleared prior to ordering loan documents.
Order an Appraisal
Instructions to Order with Mercury
Click on the Mercury Network logo below to order:
Order CommercialWyse Appraisal
Service Level Agreement
We operate 100% differently from the entire Non-QM industry. Please note our posted timelines are the times for completion of each stage. All exceptions should be approved prior to submission for Set-Up in CHLOE. In order to make sure that we adhere to our Service Level Agreements (SLAs) we also require that our partners do their best to submit UW conditions within the 5-day timeframe below. Files are put on hold after 5 days of inactivity. Any submissions after 2 PM PST is considered a “submitted” on the following business day.
|Loan Set-up:||Up to 24 Hours|
|Initial Disclosure:||Up to 24 Hours|
|Pre-Writing Submission:||Up to 48 Hours|
|Initial Underwrite:||Up to 72 Hours|
|Conditional Review:||Up to 48 Hours|
|QC Review:||Up to 24 Hours|
|Final Underwrite (CTC):||Up to 24 Hours|
|Locked LE:||Up to 48 Hours|
|Initial CD:||Up to 24 Hours|
|Docs Out:||Up to 24 Hours|
|Fund:||Up to 24 Hours|
- Submission Form
- URLA – Lender Loan Information
- Notice of Changed Circumstances
- Doc Request Form
- Gift Letter
- Form SSA-89
- 12 Day Tax Letter
- Self-Employed Business Narrative
- Verification of Mortgage Rent
- Fannie Mae Form 1005 – Written Verification of Employment
- Automatic-Payment Authorization Form
- Borrower Contact Consent Form
- Consent to Share Tax Returns
- Non-Occupant Co-Borrower Certification
- Gift of Equity Letter
- LoanWyse State CBSA List
HOA & Condo Questionnaire
White-Label Non-Branded Flyers For Brokers
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- PrimeWyse Jumbo
- ITINWyse Spanish
Non-Branded Informative Flyers
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- Before a Loan Collect These
- Credit Score Breakdown
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- Factors Impacting Your Rate
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LoanWyse Branded Flyers
LoanWyse AE Flyers
For your convenience, we have provided an Excel based version of the Bank Statement Calculation worksheet for both Personal and Business Bank Statement calculations.
LoanWyse provides our Approved Broker Partners the ability to submit a request for bank statements income review through our broker portal, CHLOE. For more information on how to become an approved broker partner, click here -> Become A Partner.
If you are already an Approved Broker Partner, please sign in to your CHLOE account. Click here -> Bank Statement Analyzer Request Process, for detailed step-by-step instructions. For additional assistance, send an email to firstname.lastname@example.org.