Yes manual underwriting is acceptable loans with erroneous credit information or loans that can not get an AUS decision due to limited or no credit. 

1AM will purchase loans closed in an Illinois Land Trust or a Revokable Living Trust.  Trust Agreements and an additional Attorney’s Opinion letters must be approved by 1AM prior to closing.  Investment properties are ineligible.

Yes, 1AM Underwriting's minimum FICO score for conforming conventional loans is 580. Jumbo conventional loans generally require a higher score. Reduced documentation loans have specific FICO requirements as noted in the Product Guides. FHA/VA loans have no minimum FICO requirement.

Please contact File Coordination or your 1AM Wholesale Account Executive.

All loans run directly through DO or LP should have findings fully documented and forwarded with a completed 1AM Underwriting Submission Checklist to the 1AM File Coordination Department, 701 E 22nd St, Suite 125, Lombard IL 60148 or uploaded via the paperless submission process.  All loans run through DU must be assigned to First Advantage Mortgage for underwriting validation.

Yes. Choose from Genworth, AIGUG, MGIC, Radian, RMIC, or PMI. Be sure to submit a copy package only to the MI company and a copy of your 1AM Registration Confirmation. The MI company will provide you a Clear to Close for submission to 1AM when requesting funds. You are responsible for timely forwarding of your original credit package to 1AM to complete the loan purchase.

Yes, you can, by using the e-magic, AU Central or Radian link under the Service Options tab. 1AM has arranged with MGIC to use its underwriting portal to export your file directly from your LOS to quickly obtain DU or LP findings. You have the option of sending your documented file to GE, MGIC or 1AM for underwriting validation of your findings and “Clear to Close.”

1AM Wholesale Account Executives are among the industry’s most experienced and are available to facilitate all aspects of your 1AM relationship.  Your Wholesale AE is available by e-mail, phone or fax and is backed up by the 1AM Help Desk, 800-487-6693

Your Broker may have already obtained and Administrative security clearance to assign you a  unique user name and password.  If uncertain, you are welcome to contact 1AM Broker Relations 630-376-0575 for additional assistance.

Please refer to page 1 of the rate sheet for eligible states

All 1AM forms are conveniently located at 1amdelivers.com in an easily downloadable file format.  Simply click on the “resources” link from the home page.  Brokers are encouraged to check 1AMdelivers.com frequently to ensure usage of the most current forms. 

The 1AM Doc Prep Request form can be found in the Forms and Disclosure section on the 1amdelivers website.  Just click on the Resources link from the home page.  Complete the form, include all requisite exhibits and fax to the 1AM Closing Department at the number shown on the Doc Prep Request form.

Absolutely.  As your lending partner, 1AM wants to do everything possible to expedite your transaction.  Simply indicate your request for e-delivery of your documents and verify the accuracy of the recipient’s e-mail address on your completed Doc Prep Request Form.

1AM encourages brokers to use any of the 1AM approved doc prep providers.  Your 1AM Wholesale Account Executive can provide you a current list of approved providers.  To schedule table funding of your loan, simply complete the 1AM Wholesale Funding Request, include all requisite exhibits and fax to the 1AM Closing Department.

Normal expectations for 1AM doc prep and closing are 2-3 business days; broker prepared doc prep and table funding are 1-2 business days.

1AM purchases loans closed with a real estate specific Power of Attorney.  The Power of Attorney document must be approved by 1AM prior to closing and the original 1003 must be marked as a face to face interview.  A POA is not allowed on properties held in Trust.

1AM must receive pended items within 7 calendar days from the date of suspension.  Starting calendar day 8, a reprice cost of 1.00bp (.010) per day applies.

Yes, you must order our own flood certification and it must be life of loan.  Yes

The quickest, surest and most efficient method of registering or locking a loan with 1AM is to access the Online Registration feature at 1AMDelivers.com.

1AM pricing is good from the time of issuance until 6:30 A.M. (Central) the following business day.

Yes, all loans must disburse on or before rate lock expiration

Extension or relock requests not received by 4:30 P.M. (Central) will be processed on the next business day's pricing.

Re-locks of expired loans will go to the worst case of original price or current market. Loans having expired greater than 30 days may be re-locked as a new loan at current market

Yes. 1AM's competitive non-warrantable condo program pricing is published daily at 1AMDelivers.com and on the daily rate sheet. Correspondents should fax a completed Condo Questionnaire and Condo Exception Request Form, if applicable, to the 1AM Help Desk, 630-261-2263.

Generally, off sheet pricing at higher rates to obtain a higher SRP is controlled by secondary market compression and sometimes available. Lower rates, however, may be available as well as other unpublished products by contacting the 1AM Pricing/Registration Department directly at -800-487-6693.

The price over par is due back to 1AM whenever a loan pays in full in 120 or fewer days from the date that we purchased the file.  This repayment is applicable regardless of the reason for payoff.

Not at this time.