Adopt the standard UMB contract when it becomes available.
Technology Employed
Online Application
Locking Procedures
Provide you with a proof of Rate Lock from the lender.
Third Party Fees
As indicated in Good Faith Estimate.
Broker Fees
Broker Fees: 0%
Origination Fee: 1%
Processing Fee: $395
Lender Fees: Wholesale lenders charge a fee to underwrite the file, prepare the loan docs and fund the loan. This also includes the tax service fee and the flood certification fee.
Appraisal Fee: Ranges between $250-$500 depending on type and size of home. Customers are free to shop for their own appraiser. We can recommend a trustworthy company if the customer wishes.
Yield Spread Premium: The spread that the bank pays us to deliver a certain rate to the customer. This fee is always disclosed by SV Financials and the customer has the option to use the Yield Spread to pay for the origination fee to keep up-front costs lower. This is worked out on a case by case basis with the customer to determine if it makes more sense to pay the origination fee, the Yield Spread Premium fee or a combination of the two.
Bio
SV Financials 3884 Walnut Av
Fremont, California 94538
