Mortgage Warehouse Lending
Reliable funding and personalized service for independent mortgage lenders nationwide, excluding New York.
Dedicated Warehouse Leadership Team
Jodie D. Cochran, CMB
Senior Vice President - National Sales and Production Manager
Simeon Knight
Vice President - Senior Relationship Manager
Mortgage Warehouse FAQs
Warehouse lending borrowing rates are tied to each loan’s note rate plus a margin.
Warehouse lines start at $2 million and can go up to 20× corporate liquidity.
Minimum liquidity requirements include:
- At least $100,000 or a percentage of the average loan size (whichever is higher).
- Acceptable liquidity sources: corporate cash, marketable securities, and unrestricted guarantor assets.
Yes. Personal guarantees are required for any individual owning 10% or more of the company.
A per‑file transaction fee applies to each loan funded on the line.
- Advance rate is up to 99%.
- Maximum dwell time negotiated at the time of approval.
- Eligible products include FNMA, FHLMC, FHA (With DE Approval), VA, USDA, Section 184, Jumbo, and Non‑QM.
- Ineligible: Second liens, construction loans, bridge loans, HELOCs, and reverse mortgages.
Simmons Bank provides warehouse lending in all U.S. states except New York.
Borrowers must provide at a minimum:
- Quarterly GAAP‑quality financial statements
- $300,000 fidelity bond
- $300,000 errors & omissions (E&O) policy
Yes. Delegated options are available for qualified applicants; additional requirements may apply, such as higher liquidity and pledged assets.
Yes. Startup mortgage lenders may be eligible, subject to underwriting and liquidity requirements.
Yes. The application deposit is $1,000 and is refundable after the first loan funds through the warehouse line.
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{40} Simmons Bank is not affiliated with any fulfillment providers or takeout investors.
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{234} Simmons Bank NMLS#: 484633