Posted To: Pipeline Press

The U.S. is divided up into regions. Have you ever noticed that we say, “Out West” or “Back East” – a holdover from centuries ago. It’s never, “Back West” or “Out East.” Historically, new housing nationwide led to more local shopping, and thus higher local sales tax revenues. But due to online shopping, that relationship has lessened. Warehouse banks usually operate nationwide, and I received this short question: “Rob, do you know of any warehouse lenders out there that don’t require audited financials?” Are you kidding? Every reputable warehouse bank requires year-end audited financials (despite 2019 being “long ago”) along with monthly (or quarterly) financials (aka, “interims”) signed by…(read more)

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Source: Mortgage News Daily