Frequently Asked Questions
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Clear answers to help you move deals forward faster.
Pricing and Rates
Are your rates competitive compared to other wholesale lenders?
Yes. Lendz Financial benchmarks rates daily against the non-QM wholesale market to remain competitive. Our pricing is fully transparent and designed to hold through the process, helping to avoid unexpected changes or last-minute adjustments.
Can I lock rates immediately or do I need underwriting approval first?
Rates can be locked as soon as a loan is registered. Underwriting approval is not required to lock a rate, allowing brokers to secure pricing early and move deals forward faster.
Do you offer real-time rate updates throughout the day?
Yes. You can see current rate sheets across all pricing series when quoting or locking. Rates are refreshed in real time, so there are no outdated sheets or delayed updates.
How quickly can I get pricing for my borrowers?
Pricing is available immediately once basic loan details are entered. Brokers can generate real-time pricing in seconds using Lendz Financial’s online tools, including the built-in pricing engine and the pre-qualification system available directly through our wholesale platform.
What's your rate lock policy, including extension fees?
Loans may be locked for 30, 45, or 60 days. If additional time is needed, rate lock extensions are available for up to 30 additional days at a cost of 0.02 basis points per day.
Underwriting and Approvals
Are your underwriters experienced and in-house, or do you outsource underwriting?
All underwriting is handled in-house by dedicated non-QM underwriting professionals. We do not outsource underwriting.
How many initial approvals actually make it to closing without major conditions?
Lendz Financial maintains a high pull-through rate due to disciplined upfront underwriting and early identification of potential issues, reducing surprises later in the process.
Do you really provide underwriting decisions within 24 hours?
Yes. Most complete files receive an underwriting decision within 24 hours. All files are reviewed by experienced, in-house non-QM underwriters who specialize in complex borrower scenarios.
What's your actual turnaround time for underwriting decisions?
Initial underwriting reviews are typically completed within 24 hours for complete submissions, helping to maintain momentum from application to approval.
Technology and Platform
Can I access the platform from my phone or other devices?
Yes. The platform is fully accessible from any device, including desktop, tablet, and mobile.
Does your platform integrate with my LOS (Loan Origination System)?
Yes. Lendz Financial integrates with LendingPad, allowing brokers to submit and manage loans efficiently within their existing LOS workflow.
Do I need to log in to submit loans with Lendz?
No. Loans can be submitted through Easy Submit or the pre-qualification tool without requiring a login, making it easy to start a deal quickly.
How do I submit a loan? Is it really just drag and drop?
Yes. Brokers can submit loans using Easy Submit, which supports drag-and-drop document uploads for fast and simple submissions.
Is your platform easy to use, even for non-tech-savvy users?
Yes. The platform is designed to be intuitive and efficient, requiring minimal clicks to submit and manage loans. No technical expertise is required.
Communication and Support
How quickly do you respond to emails and calls?
Same-day response is standard for both emails and phone calls, with your Account Executive handling communication directly.
Will I have a dedicated account executive or a general support line?
Each broker is assigned a dedicated Account Executive who serves as the primary point of contact for pricing, scenarios, escalations, and submission support.
What are your actual customer support hours?
Customer support is available Monday through Friday from 8:00 AM to 6:00 PM Eastern Time.
Closing Times
Can you really close loans faster than the industry standard?
Yes. Faster closings are possible due to in-house underwriting and processing combined with an optimized non-QM workflow from start to finish.
Do you offer rush or expedited processing for urgent deals?
Expedited processing options are available on a case-by-case basis for time-sensitive transactions.
What factors could delay a closing?
Delays are most commonly caused by missing or incomplete borrower documentation, appraisal or third-party service timelines, borrower changes late in the process, or title and property-related issues.
What's your average loan closing time?
Loans typically reach clear to close in an average of 15 days.
Documentation and Requirements
How do you evaluate non-traditional or alternative income sources?
Income documentation is matched to the income type using a real-world evaluation approach that reflects how borrowers actually earn income.
What are your minimum credit score requirements?
Minimum credit score requirements vary by program. Options are available for borrowers with less-than-perfect credit, and each file is reviewed holistically rather than solely on score.
Do you accept bank statements for self-employed borrowers?
Yes. Bank statement programs are available for self-employed borrowers who qualify using alternative income documentation.
How flexible are you with alternative income documentation?
Lendz Financial offers strong flexibility for alternative and non-traditional income documentation, with programs specifically designed for self-employed and complex borrowers.
What documents are required for your non-QM loan programs?
Documentation requirements vary by program and borrower profile but typically include income, asset, and property documentation. Clear and detailed checklists are provided upfront to set expectations early.
Non-QM Programs
Can you finance unique or unconventional property types?
Unique or unconventional property types are considered on a case-by-case basis. Early review is encouraged to determine eligibility and structure the deal effectively.
Do you lend in all 50 states?
Lendz Financial provides business-purpose lending in over 40 states. As an NMLS-licensed mortgage lender and servicer, we currently operate in Arizona, California, Colorado, Florida, Georgia, Illinois, Michigan, North Carolina, New Jersey, Nevada, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Utah, and Washington, with additional details available on the wholesale lending page.
Do you offer DSCR loans for real estate investors?
Yes. DSCR loans (Debt Service Coverage Ratio) are available for real estate investors and qualify based on property cash flow rather than personal income. DSCR options are also available for foreign national investors.
What are your maximum loan amounts or program limits?
Maximum loan amounts vary by program and scenario. Jumbo and high-balance options are available for qualifying borrowers.
What types of non-QM loan programs do you offer?
Lendz Financial offers a broad range of non-QM loan programs, including DSCR, Foreign National, Bank Statement, and Standard Documentation options. Full program details are available on the programs page.
Onboarding and Getting Started
How soon can I submit my first loan after approval?
Brokers can submit their first loan immediately after approval. Once licensing and compliance checks are completed, brokers gain full access to Easy Submit and LendingPad integration, allowing them to originate and process loans without delay.
Is there a minimum loan volume requirement?
No. Lendz Financial does not require a minimum loan volume. Brokers of any size can submit loans and access our full suite of non-QM programs without production quotas. This flexibility supports new brokers, growing teams, and established offices without pressure to meet volume targets.
What are your broker requirements for a partnership?
Lendz Financial’s broker requirements align with standard industry licensing and compliance standards. Brokers must hold appropriate licenses and meet basic regulatory requirements. There are no minimum production thresholds, making Lendz accessible to both high-volume and boutique brokerages. Our streamlined verification process allows brokers to onboard quickly and focus on originating loans.
How long does it take to get approved as a broker with Lendz Financial?
Broker approvals are typically completed the same day after sign-up, allowing brokers to begin submitting loans quickly. Standard verification includes licensing, credentials, and basic compliance checks to ensure alignment with regulatory requirements.
Loan Servicing
Who is servicing my borrower’s mortgage?
After closing, the loan is initially serviced by Select Portfolio Servicing (SPS). The servicer is the company responsible for collecting payments and managing the loan after funding.
If servicing is later transferred, the borrower will generally receive a Goodbye Letter from the current servicer and a welcome letter from the new servicer with updated payment and contact information.
If your borrower is unsure who their current servicer is, advise them to check recent mail or email communications. If they still need help, Lendz can assist in identifying the current servicer.
How does my borrower make their mortgage payment?
Mortgage payments are not made directly to Lendz Financial. Payments must be made to the loan’s current servicer.
The borrower’s first payment amount and due date are listed in their closing documents. The loan typically fully boards to SPS within 1 to 2 weeks from funding. Once the loan is fully boarded, the borrower can typically create an online account through the servicer’s website to make payments electronically.
If your borrower is unsure where to send payment, have them review recent servicing notices or contact Lendz for help confirming the correct servicer.
How does my borrower set up or manage ACH?
For ACH setup, updates, or status questions, borrowers should contact their current servicer directly or log into their online servicing account, if available.
If ACH paperwork was completed at closing, that setup is generally expected to transfer when servicing transfers. That said, some servicers may still require additional verification before automatic payments are reactivated.
Brokers should encourage borrowers to confirm directly with the current servicer whether ACH is active, when drafts will begin, and whether any additional action is needed.
My borrower’s loan just closed. What should they expect next?
After closing, the loan goes through a setup period and is initially serviced by Select Portfolio Servicing (SPS). During this transition, the loan may later transfer to a new servicer. If that happens, the borrower will receive notification with updated servicing and payment instructions.
The first payment is usually due 30 to 60 days after closing, depending on the closing date. The exact due date can be found on the amortization page in the closing documents.
Once the loan is fully set up, the borrower can create an online account with the servicer. If questions come up during the transition, Lendz can help point the borrower in the right direction.
How should brokers help foreign national borrowers with servicing questions?
Foreign national borrowers may have a different servicing experience depending on the servicer.
- Some servicers offer translation support, but not all provide international phone numbers.
- Lendz may be able to assist with a three-way call if the borrower needs help connecting with the servicer.
- Online account setup may look different for borrowers who did not use a Social Security Number or EIN at closing.
- Additional verification steps may apply during online account setup.
- If someone other than the borrower will help manage the account, a Third-Party Authorization is strongly recommended so the servicer can communicate with that person directly.
- Lendz can help guide borrowers on where to send Third-Party Authorization forms and can assist with common setup questions.
Who handles escrow, taxes, and insurance?
If the borrower’s monthly payment includes escrow, the current servicer generally handles payment of property taxes and insurance.
If the borrower receives a tax bill or insurance bill directly, they should contact the current servicer to confirm how it should be handled. Insurance claim checks and escrow removal requests are also managed by the current servicer and may vary based on the loan terms and that servicer’s guidelines.
