Website: http://www.wcswholesale.com

Integrity is a Broker with WCS Lending for FHA Loans with Lender Paid Compensation of 4.00%

Account Executive and Contact Information

    Tim McGraw, Account Executives
    Office: 312-869-2424
    Email: timothy.mcgraw@wcslending.com
    Website: http://www.wcswholesale.com

NEW GUIDELINE CHANGES ARE IN EFFECT – 2/1/12 – EFFECTIVE IMMEDIATELY!!!:

-    ELIMINATION OF DTI CAP (OVERLAY) ON FHA– UNLIMITED DTI WITH AN      APPROVED ELIGIBLE—
-    620+ FICO AND PURCH – RT REF – CASHOUT!!!
-    REVISION OF TRADELINE REQUIREMENT FOR FHA/VA—- NO TRADELINES      NEEDED WITH AUS ACCEPT!!!—-(if 3-4 family, or c/o refi, or purchase with a      gift/DPA FUNDS—there will be a minimum tradeline req) – Min trades in those      situations will be 3 total tradelines open or closed in the last 3 yrs (reviewed for 12      months) and you can add them up with all borrowers
-    PAY OFF REVOLVING DEBT TO QUALIFY ON PUR, C/O REFI, AND R/T      REFIS—(must be paid before closing)
-    MORE MANUAL U/W –ASK ME HOW!!
-    105% CLTV WITH DPA PROGRAMS!!!

FHA-USDA-VA Underwriting Turn Times

Approvals FHA/VA — 24-48 HRS — 3PM (EST) CUTOFF TIME
Approvals USDA — 24-48 HRs — 3PM (EST) CUTOFF TIME
Conditions 24-48 HRs FHA/VA — 3PM (EST) CUTOFF TIME
Conditions 24-48 HRs for USDA — 3PM (EST) CUTOFF TIME
Closing 24-48 HRs FIRM AFTER FINAL CTC & 24 HR QC is Cleared by Account Manager!

***WCS LENDING 24 HOUR APPROVALS & STIPS***
***FHA – USDA – VA IN 49 STATES***
***UP TO 4% LENDER PAID COMP***

FHA Streamline Submission Cover Sheet Click here
FHA Submission Cover Sheet Click here
VA Submission Cover Sheet Click here
VA IRRRL Refinance Click here
VA Loan Amount Calculator Click here
VA Sponsor Application Click here
RD 1980-21 Request for Single Family Housing Loan Guarantee Click here
USDA Super Streamline Submission Checklist Click here
USDA Submission Cover Sheet Click here
Case instructions Click here
WCS Change in Circumstance Form Click here
WCS Mortgagee Clause Click here

WCS Fee Sheet – OnLine

Registration instructions – We don’t have any instructions for our website currently for registration and submission – will see if I can get something like that created though
• Login @ www.wcswholesale.com
• Click on New Registrations
• Click on Upload FNMA 3.2 File
• Browse to your saved FNMA file and click on it, then click on Upload
• Fill in the remaining fields to complete the Loan Summary Screen
• Select the LO and Processor from the Drop Down Lists
• Click SUBMIT at the bottom of the Screen
• Upload Pre-submission documents when Prompted (1003/GFETIL) – THESE CAN BE UNSIGNED!!!
• Click Submit and you are Registered

Submission instructions
• Login @ www.wcswholesale.com
• Click on Pipeline Search & Loan Locks
• Type in borrowers last name and Submit (or just go to Full Pipeline and scroll through it)
• Click on Borrower name in the list ONCE and click on DOCUMENT CENTER
• In the Section under Heading : COMPLETE UNDERWRITING FILE – Click on Browse, find your scanned in file on your hard drive and click on it, then click UPLOAD
• Be sure to wait until file is done uploading – on a slow internet connection or with a large file this can take 5 or more minutes – watch the green status bar at the bottom of the page to see if it is still uploading
• When File is done uploading – you will see it listed with a time stamp in the page
• Click on SUBMIT TO UNDERWRITING at bottom of screen
• Confirm contacts and Click Submit
Fee Sheets are Completed On-Line
$895 u/w fee – Underwriting Fee is $895 – no other fees
Appraisal – You Order The Appraisal thru the AMC’s listed below
APPROVED AMC’s
Appraisal Guarantee

http://www.appraisalguarantee.com

Steve Bettinger
Appraisal Guarantee
Tel: (855) 248-2726 or (855) A-Guarantee
Fax: (561) 431.3112
______________________________________________________________________________________
Nationwide
856-258-6977
Andy
National Coverage Area—
Areas where they have the most coverage:
NY, NJ, CA, MD, VA, FL, WA, IL, MA, CT, HI , AK
_______________________________________________________________________________________________________
AppraiserVendor.com
888-418-2676
Contact
JohnCulbertson—mobile—317-513-9492
jculbertson@appraiservendor.com
National Coverage Area—
Areas where they have the most coverage:
CA, IN, OH, MI, FL, GA, AL, SC, LA, IL, NE, KS, IA,
_______________________________________________________________________________________________________________
Dart Appraisals
561-337-5888
Contact: Bill
bcannova@dartappraisal.com
Not National Coverage Area—but they have good coverage in the below states:
FL, TX, IL, GA, PA, OH, NC, VA, CO, MO, IN, SC, TN,

Tim McGraw
National Account Executive
WCS Lending, LLC
Timothy.McGraw@WCSLending.com
312.869.2424 Direct
888.456.2097 efax
951 Yamato Rd. Suite 150
Boca Raton, FL 33431

 

NMLS# 327908

 

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