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For licensed mortgage professionals only — not for distribution to consumers.
Stated Income · Stated Asset
WMB No Doc (ND2) is a stated-income, stated-asset program for entity-vested investors in CA, NV, and TX. No FICO, no income or employment verification, no DTI, no DSCR, no TRID.
WMB No Doc (ND2) is built for experienced, entity-vested investors who want maximum speed and privacy. There's no credit report or FICO, no income or employment verification, no DTI, and no DSCR — qualification is stated-asset, structured as a 5-year balloon on a 30-year amortization.
| Parameter | Guideline |
|---|---|
| Occupancy | Investment properties only (1–4 units) |
| Eligible States | CA, NV, TX only |
| Loan Amount | $100,000 – $5,000,000 |
| Max LTV | 70% ($3M) · 65% ($4M) · 60% ($5M) |
| Borrowing Entity | LLC or corporation only — individuals not eligible |
| Structure | 5-year balloon, 30-yr amortization (365/360) |
| Reserves | 36 or 48 months of P&I deposited into an investor-selected bank |
| Prepayment Penalty | 1-year PPP, 3% |
| Points & Fees | 3% maximum |
| UW Fee | $1,495 (+ $695 closing-docs prep fee) |
Because ND2 lends to entities only, expect to provide, depending on structure: Articles of Organization or Incorporation, Statement of Information, Operating Agreement or Bylaws, EIN (IRS Form SS-4), and documentation of ownership interest.
Current published turn times. These are business days and reflect a complete submission — incomplete files reset the clock.
| Stage | Turn Times |
|---|---|
| Loan Setup — Purchase | 1 day |
| Loan Setup — Refinance | 1 day |
| Underwriting — Purchase | 1–2 days |
| Underwriting — Refinance | 1–2 days |
| Condition Review | 1–2 days (all programs) |
| Loan Docs | 1–2 days |
| Funding | 1–2 days |
For current pricing, contact your Account Executive or send an inquiry to submit@wmbankers.com. ND2 prices through an investor, so its lock terms differ from our other programs.
Lock Policy
| Term | Policy |
|---|---|
| Locks & Relocks | Subject to investor approval |
| Relock (If Approved) | Worst-case pricing + 0.250% fee |
| Lock Extension (If Approved) | 2 days — 0.125% fee · 7 days — 0.250% fee |
| Max Extensions | 1 |
| Lock Cut-Off | 3:00 PM PST |
| Early Payoff Penalty | 180 days from the first payment due date |
Terms are as published on the current rate sheet and are subject to change — always confirm against the live sheet before quoting.
For use by licensed mortgage professionals only; not for distribution to consumers and not an advertisement for the extension of credit to consumers under Regulation Z, 12 CFR §1026.2. This is not a commitment to lend. ND2 is a business-purpose loan for non-owner-occupied investment properties only. All loans are subject to credit approval, property appraisal, and program guidelines, which are subject to change without notice. Fidelity Lending Solutions, Inc., a California Corporation, DBA Wholesale Mortgage Bankers. 2650 East Imperial Hwy., Suite 110, Brea, CA 92821. Licensed under NMLS ID #922372 in Arizona, California, Colorado, Florida, Georgia, Nevada, Texas and Washington. Equal Housing Lender.