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| LOAN SEARCH HELP |
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Request a lender | Loan Search |
Ratesheets | Accuracy | Help
| Program Code Definitions |
| Begins with: |
Followed by: |
Equals |
| 1 |
any letter |
30 Year Fixed |
| 2 |
any letter |
15 Year Fixed |
| 3 |
any letter |
30 Due in 7 |
| 4 |
any letter |
30 Due in 5 |
| 5 |
any letter |
Lender Funded Buydown |
| 6 |
any letter |
Biweekly |
| 7 |
any letter |
12 Year Fixed |
| A |
any number |
Monthly Adjustable ARM |
| B |
any number |
6 Month ARM |
| C |
any number |
1 Year ARM |
| D |
any number |
3 Year ARM |
| E |
any number |
5 Year ARM |
| F |
any number |
7 Year ARM |
| G |
any number |
10 Year ARM |
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NOTE: Every time you select a parameter you are limiting the search criteria. If you get the message "No Loan Programs Found," then you need to either change or eliminate some of your specifications to make the search less limiting and try the search again. |
| Selection
Field Selections |
| Document Types |
Select
your required documentation type by clicking on it.
NOTE: You must select one (and only one) of these parameters.
Below are Lioninc.com's definitions for each document type.
| Full/Alt Doc: |
Income and assets
are disclosed, and verified |
| Stated Income
(NIV): |
Income is disclosed,
but not verified. The
borrower does not have to prove his/her income. The borrower may be
required to produce bank statements to show reasonable cash flow based
on the stated income. |
| Stated Asset
(NAV): |
Assets are disclosed,
but not verified. The
borrower's income must be verified, but not assets. Asset sources
for
down payment do not have to be disclosed. This is often used for foreign
national borrowers. |
| Stated Income/Stated
Asset: |
Income and assets
are disclosed, but
not verified |
| No Doc/NINA: |
Income and assets
are not disclosed, and not
verified. The borrower not only avoids producing documentation verifying
income, but you can also avoid producing documentation to verify assets
as well. |
| No Ratio: |
Income is not
disclosed, and is not verified. Assets
are disclosed and verified. The borrower can avoid any reference to
income and debt to income ratio qualification. |
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| Favorite Lenders |
This feature allows you to select a group of lenders for your loan search. To select your favorite lenders, click on the "Fav" link and check the box for each lender you would like to include in your favorite lender group. When finished with your selection, click on "Change My Selections". To activate a search on your favorite lenders, check the "Fav" box at the top of the loan search page. |
| Finance Types |
Select your required finance type by clicking on it. NOTE: You must select one (and only one) of these parameters. |
| Fix/Variable |
Select "Fix" for Fixed rates only, "Var" for Variable rates only. |
| Interest
Rate |
This area allows you to establish an interest rate range for your searches. The default in the first box has been established at 0.000%. You may leave this at the default and enter 7.500% in the second box to find all loan programs at or below 7.500%, or if you enter 7.500% in both boxes then you will see the pricing available from all lenders at 7.500%. IMPORTANT NOTE: make sure you adjust or delete the "Loan Fees" fields to correspond with your interest rate range. |
| Lenders |
Select "All Lenders" to search on all lenders or select a specific lender to search on only that particular lender. To select a specific lender
you may scroll through the list by using the scroll bar or simply continuously press the first letter of the lenders name until it appears in the field. |
| Loan Amount |
Enter required loan amount or leave blank. If you leave this field blank, then the search will not be limited by the loan amount. |
| Loan Term |
"360" months(30 year loan) is the default term. To search on 20 year loans select "240" months, for 15 year loans select "180" months, for 10 year loans select "120" months, and for 5 year loans select "60" months. |
| Loan To Value |
Enter required LTV or leave blank. If you leave this field blank, then the search will not be limited by the LTV. |
| Lock Periods |
"0 to 60" days is the default range. You can override these figures by typing in your desired lock range. |
| Maximum Search Results |
This feature allows you to select how many matches you want to display. The default is 50. To change this simply click open the box and select your desired number. |
| Occupancy |
Select "OO" for owner occupied property loans, including second homes, or select "NOO" for non-owner occupied property loans. |
| Property Types |
Select your required property type by clicking on it. NOTE: You must select one (and only one) of these parameters. |
| Rate Fee |
"-1.000% to 1.000%" is the default range, you can override these figures by typing in your desired fee range. The default will find loan programs between a 1.000% rebate and a cost of 1.000% |
| Retail Points |
This feature allows you to display and print pricing with your margin already built in. Simply enter the number of eighths you want to add to the wholesale fees, i.e., to add 1.50% to all wholesale fees, enter 12 (e.g., 12/8 = 1.50%). Leave this field at 0 to display true wholesale pricing. IMPORTANT NOTE: if you add a version code make sure you adjust the "Loan Fees" fields to correspond with your version code. |
| Special Finance Types |
DO NOTHING in this area unless there is one or more finance types in this box that you want to search on. If you want all programs in this box to be included, then click on "All Finance Types" If you want a selection of the listed programs, then after clicking your first required type, hold down the Ctrl Key while clicking on all other desired types. For example, to search for 30 due in 7, 30 due in 5 and Lender Funded Annual
Buydowns - first click on 30 due in 7, then press and hold down the Ctrl Key, and click on the other two program types Clicking on the "Reset" Button, (found at both the top and bottom of the screen), will reset the screen back to the default values |
| Special Feature Types |
DO NOTHING in this area unless there is one or more special feature types in this box that you want to search on. If you want a selection of the listed programs, then after clicking your first required type, hold down the Ctrl Key while clicking on all other desired types. For example, to search for a self-insuring program with a rolldown lock feature - first click on Rolldown Lock then hold down the Ctrl Key and click on Self-Insuring Clicking on the "Reset" Button, (found at both the top and bottom of the screen), will reset the screen back to the default values |
| | ARM Parameters |
| Adjustment Cap |
Enter required adjustment cap or leave blank to search on all. Note: enter "0.00%" for monthly ARMs, "1.00%" for 6 month ARM's or "2.00%" for annual ARMs. |
| Adjustment Period |
Enter required Adjustment Period or leave blank to search on all. Note: if you are looking for a 3 year ARM that changes to a 6 month ARM, then enter "36" in initial period and "6" in adjustment period. |
| Convertible |
Select "Yes" if a conversion option is required, "No" if no conversion, or "All" to search on both. |
| Index Code |
Select your desired Index, or select "All" to search on all Indices. |
| Initial Period |
Enter required Initial Period or leave blank to search on all. Note: enter "6" for 6 month initial period, "12" for 12 month initial period, "36" for 3 year ARM's "60" for 5 year ARM's, etc... Note: if you are looking for a 3 year ARM that changes to a 6 month ARM, then enter "36" in initial period and "6" in adjustment period. |
| Life Cap |
Enter maximum Life Cap or leave blank. Note: if you enter 12.50% then only ARM's with a Life Cap of 12.50% or less will be included in the search, if you leave blank then all Life Caps will be included in the search. |
| Margin |
Enter maximum margin required or leave blank. Note: if you enter 2.50% then only ARM's with a
margin of 2.50% or less will be included in the search, if you leave blank
then all margins will be included in the search. |
LION Quick Search
The LION Quick Search Feature can be accessed by clicking on the "Quick Search" option in the toolbar at the top of the screen.
This feature is a list of pre-scanned selection parameters. Simply click on the program(s) you wish to display or print.
The "Quick Search" will display the 25 best pricing for each of the pre-scanned programs. To control the number of pricing results for each program, Simply click on "Browse" at the bottom of the Quick Search screen.
Click Here for an overview of LION Loan Search...
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