Welcome to Rose Financial
Thank you for your interest in Rose Financial, a portfolio lender in California since 1948! Our primary clients are brokers, and we appreciate our Brokers very much. We believe that you will find it to be very easy to deal with Rose Financial. We’ll treat you respectfully and provide the best service possible. Please search our website for our product info and ratesheet!
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When underwriting a real estate loan, the following guidelines will be followed:
Verifying the reliability of the information received
Fraud prevention is paramount to Rose Financial. All occurrences of fraud will be prosecuted to the fullest extent of the law. Rose Financial maintains a zero-tolerance policy for fraud. In order to minimize exposure to fraud, Rose Financial employs the following strategies:
1. Reliance upon third-party sources to verify accuracy of data
2. Verifying employment verbally
3. Cross-referencing
4. Detailed examination and Quality Control review
Ability to Repay
Ability to repay the loan is paramount! In all cases, the underwriter must be satisfied that there is an ability to repay the loan based upon the available income documentation and other components of the loan file.
a. Full income documentation on all loans collateralized by a primary 1-4 family residential property
b. Limited Income documentation allowable on certain investment transactions when the underwriter is satisfied the ability to repay the loan exists.
c. Stated Income documentation allowable on certain investment transactions when a client has a strong payment history, excellent employment history and alternative means of repayment.
Tangible Benefit to the Borrower
In all cases, loans must contain a tangible benefit to the borrower. Tangible Benefit is defined by Rose Financial as the following: In the judgment of the underwriter, denying the loan transaction will expose the borrower to unnecessary hardship or prevent the borrower from certain definable opportunities. Multiple refinances for debt consolidation, or cash-out refinances for what an underwriter determines as trivial or frivolous are examples of loans without a tangible benefit.
In no case will a loan be consummated when no tangible benefit is recognized by the underwriter, or where the loan falls short of the Tangible Benefit as defined by law.
Compliance to State and Federal Law
All loans are made in compliance to State and Federal laws.
Verifying the reliability of the information received
Fraud prevention is paramount to Rose Financial. All occurrences of fraud will be prosecuted to the fullest extent of the law. Rose Financial maintains a zero-tolerance policy for fraud. In order to minimize exposure to fraud, Rose Financial employs the following strategies:
1. Reliance upon third-party sources to verify accuracy of data
2. Verifying employment verbally
3. Cross-referencing
4. Detailed examination and Quality Control review
Ability to Repay
Ability to repay the loan is paramount! In all cases, the underwriter must be satisfied that there is an ability to repay the loan based upon the available income documentation and other components of the loan file.
a. Full income documentation on all loans collateralized by a primary 1-4 family residential property
b. Limited Income documentation allowable on certain investment transactions when the underwriter is satisfied the ability to repay the loan exists.
c. Stated Income documentation allowable on certain investment transactions when a client has a strong payment history, excellent employment history and alternative means of repayment.
Tangible Benefit to the Borrower
In all cases, loans must contain a tangible benefit to the borrower. Tangible Benefit is defined by Rose Financial as the following: In the judgment of the underwriter, denying the loan transaction will expose the borrower to unnecessary hardship or prevent the borrower from certain definable opportunities. Multiple refinances for debt consolidation, or cash-out refinances for what an underwriter determines as trivial or frivolous are examples of loans without a tangible benefit.
In no case will a loan be consummated when no tangible benefit is recognized by the underwriter, or where the loan falls short of the Tangible Benefit as defined by law.
Compliance to State and Federal Law
All loans are made in compliance to State and Federal laws.
ROSE FINANCIAL
1404 E Katella Ave. Orange, CA 92867
(714) 532-2489
1404 E Katella Ave. Orange, CA 92867
(714) 532-2489
