Frequently Asked Questions
If the loan is locked over par (ie: 100.125) is that additional premium paid to the broker?
No, any premium over par is a credit to the borrower from 5th Street Capital. Maximum lender credit to the borrower after adjustments is: 100.25
If the loan is locked under par (ie: 99.75) is that additional cost paid by the broker?
No, any amount under par is a charge paid to 5th Street by the borrower.
Yes, if the processor is a bona fide third party processor (they must have their own NMLS) they can provide an invoice and be paid at closing.