From Fairway Wholesale
A Division of Fairway Independent Mortgage Corporation
On March 1st, 2021 the Uniform Residential Loan Application will be changing. In preparation of the GSEs releasing the new form for you to use, Fairway Wholesale Lending has compiled a list of how these updates impact your borrowers.
· Overall, the redesigned application should be easier for your borrowers to complete, review and submit
· The modernized form is designed to collect information digitally
· Form is conditional and expands to collect information
· It may take slightly longer to complete as there are some additional fields on the application
RESOURCES - Coming Soon!
WHO TO CONTACT - Coming Soon!
VIDEO TUTORIALS - Coming Soon!
Loans not received for underwriting within 15 days of the lock expiration will automatically be cancelled.
FHA Lender ID: 7950700001
VA Lender ID: 7951870000
MERs Org ID: 1003924
FWL allows for the option of the Admin Fee to be charged to the borrower OR to build the Admin Fee into the rates / pricing. Refer to price adjustment grids on the ratesheet for specific pricing adjustments.
AUS Findings are required on all loans. FWL accepts both DU and LP (loan must be locked either FNMA or FHLMC based on the AUS used). DU is accessible in the TPO Portal. Fairway is listed in FNMA (DO) or FLMCM (LP) drop down menu as an investor. Findings scored on the web (DO or LP) must be finaled and released to FWL.
www.fairwaywholesalelending.com - Login with User ID
□ Loan Registrations and Submissions
□ Rate Locks and Quick Price
□ Manage and View Pipeline
□ Upload Documents
□ Internal Link to Guidelines and Matrices
□ DU Available
Complete and email the following to your designated CRS at least 3 business days prior to your scheduled closing date:
Please update your records accordingly, effective immediately Fairway Wholesale Lending is updating the Mortgagee Clause (for both Hazard Insurance and Title Policies) to be used in conjunction with all Fairway transactions –
Fairway Independent Mortgage Corporation
4201 Marsh Ln.
Carrollton, TX 75007
Loan Number: _____________