Correspondent | Mortgage Mac

Overview

The Mini-Correspondent is a program designed for clients who desire
the resources to underwrite, close and fund their loans in their name.

You maintain control of the funding process without incurring
the expense of employing an entire back office
to underwrite, close and resolve the post-closing issues.

You Originate
We do the rest!

Our Mini-Correspondent Program provides solutions to those ready to transition from brokers to bankers/lenders without the challenge normally experienced when starting on your own.

Your Investor

Mortgage Mac provides underwriting, drawing of closing loan documents, funding, shipping, post-closing and purchase your loans.

Your Warehouse Line

Mortgage Mac also provides approved mini-correspondent clients with a warehouse line based on the unique requirements of each client.

Minimum Requirements

Minimum Net Worth of $50,000
Execution of Mini-Correspondent Application
Minimum volume expectation of $2,000,000
Quality Control Plan
Satisfactory credit profile
1 year’ experience selling or brokering to investors
Lender or Mortgage Banking License (varies by state)
MERS General or MERS Lite member

No audited Financials are required
No E&O, Fidelity Bond, and Surety Bond are required
No warehouse line are required
No 3rd party fulfilment provider are required

Your Responsibilities

Originate, process, submit and get the loan approval
Process all change of circumstance disclosures
Order appraisals
Order closing loan documents

Ours Responsibilities

Underwrite and clear underwriting conditions
Order MI, FraudGUARD and all QC related services
Prepare the closing loan documents
Fund loans via warehouse line investor in the Client’s name
Receive closed loan collateral for purchase review
Purchase loan & wire funds to client’s applicable account

MERS ORG ID Ready

Are you MERS member?
(General or Lite member)
If you are not, Click Here

Partnership Approval

Download and Complete
the Mini-Correspondent application
and send it to your A.E.

Submit the file

Our Proprietary LOS
makes your loan processing
easier and faster.

Eliminate the disclosure of YSP
and close loans in YOUR name

The Mini-Correspondent is a program designed for clients who desire
the resources to underwrite, close and fund their loans in their name.

You Originate
We do the rest!

Minimum Requirements

No audited Financials are required
No E&O, Fidelity Bond, and Surety Bond are required
No warehouse line are required
No 3rd party fulfilment provider are required

Your Responsibilities

Ours Responsibilities

Eligible Loan Programs

Eliminate the disclosure of YSPand close loans in YOUR name

The Mini-Correspondent is a program designed for clients who desirethe resources to underwrite, close and fund their loans in their name.

You OriginateWe do the rest!

Minimum Requirements

No audited Financials are required No E&O, Fidelity Bond, and Surety Bond are required No warehouse line are required No 3rd party fulfilment provider are required

Your Responsibilities

Ours Responsibilities

Eligible Loan Programs

Eliminate the disclosure of YSP
and close loans in YOUR name

The Mini-Correspondent is a program designed for clients who desire
the resources to underwrite, close and fund their loans in their name.

You Originate
We do the rest!

No audited Financials are required
No E&O, Fidelity Bond, and Surety Bond are required
No warehouse line are required
No 3rd party fulfilment provider are required