FHA 2355600004VA9102010000

Wholesale – Credit Policy – New Conventional Product Enhancement – Wholesale IQ

Effective April 19, 2022

On Q Financial, Inc. is pleased to announced a new product enhancement for our standard conventional loan product. Wholesale IQ is designed to help your business thrive in today’s rapidly changing market by waiving the $895 funding fee ($995 in CA), expediting turn times, and accelerating closing dates. Our system automatically takes into consideration the below features and flags the product as Wholesale IQ removing the Underwriting fee from the transaction and optimizing the process for a speedier transaction.  

Wholesale IQ Product Requirements:

  • Conventional Only-DU Approve or LP Accept
  • Primary Residence
  • Purchase and Refinance
  • No Real Estate Owned other than Subject Property (if refinance)
  • W-2 or Fixed Income Only
  • PIW acceptable (Property Inspection Waiver)
  • 660 mid requirement
  • Max 2 borrowers
  • Underwriting Fee Waived
  • **24 hour turn time (turn time begins at the point of underwriting submission)

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