For more experienced mortgage bankers (mid level bankers), a traditional warehouse line of credit will fulfill their commitments to the secondary markets and investors. This type of line allows the mortgage banker to fund on a flow basis or a mini bulk delivery. A strong business plan, tested and proven QC procedures, and an experienced management team are required. There is a minimum net worth requirement of of $250,000. With an extraordinarily strong management resumè, the net worth requirement may be reduced to only $100,000. Approval times is normally 35 – 45 days.
Application Fee is $1,000 due at time of application.
