Broker Reference Guide

Your Account Executive:
Mark Shaw, S.V.P.
480-500-2825 cell, 602-418-2213 cell
marks@vipmtginc.com 

Important Information:
Lender IDs: 
FHA: 2563800009
VA: 987654321                                        

Lock Extensions, Cancellations:
lockdesk@vipmtginc.com

HOI/Flood/Condo Insurance Loss Payee Clause:
V.I.P. Mortgage, Inc. ISAOA
9221 East Via De Ventura
Scottsdale, Arizona 85258
V.I.P. loan number to be listed on document

Title Commitment, Closing Protection Letter and Subordination Agreements Mortgagee Clause:
V.I.P. Mortgage, Inc. ISAOA
9221 East Via De Ventura
Scottsdale, Arizona 85258
V.I.P. loan number to be listed on document

Title Requirement Highlights:
Transaction Specific Closing Protection Letter
Wiring Instructions on Agents Letterhead
Pre-HUD
Title Commitment within 45 days of funding
24 Month Chain of Title
Alta 8.1 on all Loans
Transaction Specific ALTAs

Insurance Requirement Highlights:
Policy Dates Required – Effective and Expiration Dates
Minimum of 3 month’s coverage remaining on Refinances
Purchases require 1 year of coverage to paid at closing
Maximum deductible of 5% or $5,000
Refer to Guidelines for Coverage Requirements
If using Guaranteed Replacement Cost Insurance, policy must state as such