Our loan process is seamless. In fact, we're so confident in our process, Wyndham will pay
up to $5000 if your loan doesn't close on time.
Terms and Conditions
If Wyndham Capital Mortgage, Inc. (“Wyndham”) is at fault for missing your closing date, Wyndham will pay up to $5000 to cover permissible closing costs or additional expenses caused by the delay in closing.
To qualify for the $5000 On-Time Closing Guarantee, you must meet the eligibility requirements below:
1. Your mortgage must be a purchase transaction that is approved and funded;
2. Wyndham will pay $2500 to the seller and up to $2500 to the buyer.
3. You must sign up for access to Wyndham’s online portal and upload all requested documents;
4. Initial document requests, as disclosed on the Notice of Information Request, must be received by Wyndham within FIVE BUSINESS DAYS;
5. All additional documentation requests must be received by Wyndham within TWO BUSINESS DAYS;
6. You must provide a copy of your original purchase contract and your closing date must be scheduled no sooner than 21 CALENDAR DAYS from the receipt of executed Intent to Proceed and receipt of credit card deposit for an appraisal;
a) 30 CALENDAR DAYS required for VA loans
b) 40 CALENDAR DAYS required for JUMBO loans
7. You may not request loan term changes, e.g. changes in loan program, term of loan, or down payment amount within FIVE BUSINESS DAYS from scheduled closing date;
8. You must lock your loan rate and satisfy all loan requirements and conditions, including payment of all advance fee deposits, at least FIVE BUSINESS DAYS prior to your closing date; and
9. The final appraisal, with all revisions, must be received FIVE BUSINESS DAYS prior to the closing date.
The On-Time Closing Guarantee is void if:
1. The appraisal is not scheduled within 48 HOURS of first contact attempt from appraiser;
2. The closing date is missed due to delays attributable to the borrower(s), a third party, or the seller;
3. Information provided by the borrower(s) on the application could not be verified or was inaccurate;
4. The loan, as structured, does not meet federal/state regulatory requirements and/or agency guidelines; and
5. The closing date is missed due to acts of God outside the control of Wyndham, including inclement weather, natural disaster, catastrophic event, act of terrorism or other public emergency.
6. Loans with subordinate financing must have secondary loan approval 5 BUSINESS DAYS prior to closing.
7. Loans for bank owned properties and homes purchased through a “short-sale”.
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