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.
□ Loan Registrations and Submissions □ Rate Locks and Quick Price □ Manage and View Pipeline □ Upload Documents □ Internal Link to Guidelines and Matrices □ DU Available
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 –