Why DAS Wholesale (Matt Koch)

Why DAS Wholesale (Matt Koch)

Wholesale

Wholesale

To Whom It May Concern:

DAS Acquisition Company, LLC is recognized as the #1 lender in Missouri. DAS has surpassed $4 billion in loan volume and continues to be an industry leader in FHA, USDA, VA and 203K business. DAS has been recognized as one of the fastest growing private companies in the country by Inc. 5000.

DAS is looking to broaden its scope of business by expanding our DAS Wholesale Division and we are partnering with banks and credit unions all over the country.

Below are some key points that set DAS apart from all other wholesale lenders:

• Ongoing training of all bank personnel (as it relates to mortgages) in products and compliance • Marketing Support • Technology

I will be following up with you in the next week and would like to take a few minutes of your time to discuss the opportunity we have to partner with you. Please feel free to contact me anytime.

Sincerely,

Matt John Koch Account Executive [M] 314.330.7007

[email protected] mkoch.usa-mortgage.com 12140 Woodcrest Executive Dr., Ste. 150 St. Louis, MO 63141 NMLS: 235662

DAS Acquisition Company, LLC dba USA Mortgage NMLS: 227262. Not a commitment to lend. Additional terms and conditions apply. Headquarters: 12140 Woodcrest Executive Drive, Suite 150, St. Louis, Missouri 63141, Toll Free: (888) 250-6522. For licensing information, go to: www.nmlsconsumeraccess.org [nmlsconsumeracc

Customer Loyalty – Having all of the main mortgage loan programs available will help you retain your current customer base. If they get the loan they need from your competitor, there is the potential to lose them as a customer. New Customers – Conversely, you could obtain new customers, who are currently banking elsewhere, by offering the mortgage loan that they need. Being there with the “right” loan will give you the opportunity to show them what you have to offer. Cross Selling – You can ensure obtaining new customers by cross selling at the beginning of the mortgage loan process. For instance, you could offer a discount in closing costs, if they open a checking or savings account with you. Generate Revenue – DAS Wholesale offers a very flexible compensation plan for originating loans through the Third Party Origination Agreement. Contact us to learn more about compensa- tion. Why Enter into a Third Party Origination Agreement?

No Big Local Banks – We do not sell our loans to any of the big local banks! We do not sell to: CitiMortgage or Bank of America.

sition Company, LLC is not affiliated with or endorsed by any government entity or agency, including USDA, HUD or VA. Interest rates and products are subject to change without notice and may or may not be available at the time of commitment or lock-in.

Why DAS Wholesale?

Low Fees! – DAS Wholesale has some of the lowest fees in the industry! $695 covers the underwriting, processing and compliance fees. There is a $12 Flood Certification Fee and the appraisal fee (based upon location and type of loan). Credit reports are billed directly to you, which can be passed along to the borrower. Great Rates! – Our interest rates are some of the most competitive in the market. You are able to see real-time pricing on all loans, and we allow you the ability to lock in the interest rate when it’s the best timing for your borrower’s needs. Compliance – In the “new world” of TRID and all of the other compliance regulations, you might need an army of employees to keep up with everything! We take care of all of that for you, so you have nothing to worry about. We will send out all initial disclosures, Loan Estimates, re-disclosures and the final Closing Disclosure in accordance with TRID to ensure your files are compliant. Technology – We have One Platform (TPO Connect) for you to originate loans, and it us very user friendly. We are then able to send eDisclosures, Loan Estimates and the Closing Disclosure in a timely manner directly to your customers. Your account executives will be able to pull credit, run AUS, track the loan in process, upload documents and lock their loans all from this one platform! Support / Training – It is very easy to schedule up training for all of your account executives. Also, there is a team to work on your files: Account Executive, Loan Officer Assistant, Processors, Underwriters, and Closers. We are all here to help you from start to closing on all of your loans!

Wholesale

DAS Services provides all of the services listed below for a $695/closed loan fee:

Processing o Once the file has been submitted to DAS for processing, DAS will order Title, Appraisal, Tax Transcripts, Flood

Certification, Credit supplement(s), Payoff(s), HOI, VOE, and VOD o Submitting of the file to underwriting and working any conditions o On Purchase files – sending the Commitment Letter to the Borrower o Submitting the file to Closing once approved by the Underwriter Underwriting o Completely underwriting files to a Clear-to-Close status Closing o Closing documents emailed to the title company o Mail closing disclosure to borrow 7 days before closing to meet requirements Shipping o File sent to the Investor Post-closing reconciliation/follow-up o Clearing post-closing conditions from the Investor Pricing o Daily and as market changes dictate Lock-ins o Complete Investor coordination Compliance

o TRID o State o Federal Technology o Loan Origination System (LOS) – TPO Connect o Pricing Engine – Optimal Blue Product research

o Product knowledge specialists regarding Investor guidelines o Continual training of account executives on industry changes Payroll reconciliations o Paid by title company at time of funding Accounting on each loan

o Appraisal invoices o Cost to put on CD o Flood Certification Letter costs Continual training of account executives o Industry changes o Investors’ guidelines o FHA rules and regulations o No charge for rejected loans, loans withdrawn, and others not closed (other than appraisal cost)

Increase Your Product Oerings Loan Programs that fit their needs

FHA – This loan program is great for first-time home buyers who don’t have a lot of money to put down on a new home. It allows a borrower to only put 3.50% of the Sales Price down. Because the loan is federally insured, lenders can -- and do -- offer FHA loans at attractive interest rates and with less stringent and more flexible qualification requirements. FHA loans allow us to offer the program to borrowers with lower FICO credit scores than many other programs. The current Up-Front MIP is 1.75% and is rolled into the loan. The Annual MIP Premium depends upon the amortization term and LTV. VA - A VA loan is a mortgage loan guaranteed by the U.S. Department of Veterans Affairs (VA). VA loans are home loans for the purchase of a primary residence available to consumers who have served or are presently serving in the U.S. military. No down payment is required, and the VA funding fee is able to be financed into the loan. USDA - The USDA loan program, also known as the USDA Rural Development Guaranteed Housing Loan Program. This mortgage loan offered to rural property owners by the United States Department of Agriculture. The program is designed to “improve the economy and quality of life in rural America.” It offers low interest rates and NO Down Payment. The current Up-Front Guarantee Fee is 1.0% and is rolled into the loan. The Annual Fee is 0.35% and is a part of the monthly payment. The property must be in an USDA eligible area and the household maximum income must meet USDA guidelines. 203(k) - An FHA 203k loan allows you to borrow money, using only one loan, for both home improvement and a home purchase. 203k loans are guaranteed by th FHA, which means lenders take less risk when offering this loan. As a result, it’s easier to get approved (especially with a lower interest rate). CONVENTIONAL - A Conventional loan is a mortgage that is not guaranteed or insured by any government agency, including the Federal Housing Administration (FHA), the Farmers Home Administration (FmHA) and the Department of Veterans Affairs (VA). It is typically fixed in its terms and rate. JUMBO - A Jumbo loan, also known as a jumbo mortgage, is a type of financing that exceeds the limits set by the Federal Housing Finance Agency (FHFA). Unlike conventional mortgages, a jumbo loan is not eligible to be purchased, guaranteed, or securitized by Fannie Mae or Freddie Mac. The ability to work with someone they know and trust – Your clients get to continue to work with you, the bank they know and trust, for all of their mortgage needs. No need to go anywhere else. Competitive Interest Rates and Fees – Besides the excellent service that you provide, they will receive competitive rates and low fees!

Matt John Koch Account Executive [M] 314.330.7007

[email protected] mkoch.usa-mortgage.com 12140 Woodcrest Executive Dr., Ste. 150 St. Louis, MO 63141 NMLS: 235662

DAS Acquisition Company, LLC dba USA Mortgage NMLS: 227262. Not a commitment to lend. Additional terms and conditions apply. Headquarters: 12140 Woodcrest Executive Drive, Suite 150, St. Louis, MO 63141, Toll Free: (888) 250-6522. For licensing information, go to: www.nmlsconsumeraccess.org. DAS Acquisition Company, LLC is not affiliated with or endorsed by any government entity or agency, including USDA, HUD or VA. Interest rates and products are subject to change without notice and may or may not be available at the time of commitment or lock-in.