REMN Wholesale is pleased to announce enhancements to our Access program.
Prepayment Penalty
- Prepayment Penalty has been revised to reflect six (6) months interest on the amount prepaid exceeding 20% of the principal balance (previously 2.5% of the amount prepaid)
- Terms are now available up to five (5) years (previously, the max term was 3 years)
- May be applied to newly registered loans 5/20/23 and after
Reserve Requirement
- May be applied to newly registered loans as well as existing pipeline loans
Guidelines have been updated at may be found at www.remnwholesale.com**Please contact your Account Executive with any questions**
| Full Doc/Alt Doc > $1.5mill up to $2mill | 9mos PITIA (reduced from 12mos PITIA) |
| Full Doc/Alt Doc > $2mill up to $3mill | 12mos PITIA (reduced from 15mos PITIA) |
| Investor Cash Flow up to $500K | 3mos PITIA/ITIA for LTV <= 70%
6mos PITIA/ITIA for LTV > 70% (previously 6mos for all LTV’s) |
| Investor Cash Flow > $500K up to $1.5mill | 6mos PITIA/ITIA |
| Investor Cash Flow > $1.5mill | 9mos PITIA/ITIA (reduced from 12mos PITIA/ITIA) |