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Wholesale Mortgage Express Frequently Asked Questions

How do I become an approved broker?

Is there a minimum net worth requirement?

No. We do not require a minimum net worth.

If I am an approved TPO Portfolio Wholesale Broker, can I also be approved for Wholesale Mortgage Express?

No, you can only be approved for one channel. Please select the channel that best meets your business needs.

What are my options for Lender Paid Compensation?

View your options here

How do I set up my initial training?

Schedule your training by emailing WME@bofifederalbank.com and let us know your name and what days/times work best for you.

What are the lender fees?

Lender fees, when applicable, are as follows:

  • Underwriting - $815
  • Foreign National Due Diligence - $250
  • Trust Review - $300

Please see Wholesale Mortgage Express Rate Sheet for additional items including Appraisal Desk Review, Field Review, and Redraw Loan Documents.

Who is my Account Executive?

Due to the substantial benefits available through the channel, Account Executives are not necessary, and the savings can be passed on to you through competitive pricing. Our comprehensive training empowers you drive your loans forward through a streamlined process. Pricing, product, and guideline information are all available 24/7 on our broker site here.

How do I upload a loan?

Select the "Upload a Loan" tab on our WME Broker Portal to upload your loan file. The loan file must be a Fannie Mae 3.2, Mismo AUS v2 file, or an IHM file.

Will BofI Federal Bank re-pull a credit report on my borrower?

Yes. However, if originally pulled by First American Credco and less than 30 days old, the same credit report can be used if First American Credco agrees to reissue it to us.

How do I order an appraisal?

Brokers can from one of our approved vendor's appraisal management companies.

What is BofI Federal Bank's security policy?

Security is a very high priority for us. To learn more, please read .

What is BofI Federal Bank's privacy policy?

We may share your data; please see our for more details.

Who sends the appraisal to the borrower?

BofI Federal Bank will forward a copy of the appraisal to the borrower.

What is the address for the Closing Protection Letter?

BOFI Federal Bank, Its Successors and/or Assigns
P.O. Box 401420, Las Vegas, NV 89140

What is the Mortgage clause?

BOFI Federal Bank, Its Successors and/or Assigns
P.O. Box 401420, Las Vegas, NV 89140

What if I have other questions?

Please email WME@bofifederalbank.com or call (844) WME-2967.