Spring EQ, LLC

Address: 1 West Elm Street, Suite 450, Conshohocken, PA 19428

https://www.wholesale.springeq.com/

Internal Reviews

(5 reviews)

Total loans closed with Loan Factory
122

Total loans closed with Loan Factory (past 12 months)
46

Lender overview

QM Program

N/A

Loss Payee

Select Portfolio Servicing, Inc. PO Box 7277 Springfield, OH 45501

CPL or Subordinate Clause

N/A

Lock Policies

Lock extension

7 days 0.28
14 days 0.56
21 days 0.84
30 days 1.20

Relock

N/A

Lock & Shop

Lender's Niche

Heloc's HELOAN's and variable HELOC in TEXAS

1st Lien DSCR--

Lender's overlays

We pull our own credit-Experian2 for home equity products

tri-merged for DSCR

Spring EQ handles closing on the home equity side-partner handles closing on the DSCR side

Appraisal -handled by Spring EQ -up front fee-should not be paid until loan is approved since we don't reimburse for them.

Prior use appraisals OK for home equity-no transferred appraisals for DSCR

Initial underwrite (days)

CTC conditions review (days)

Initial CD (days)

Review - Spring EQ, LLC

3.4

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