Production Support 877.855.7493
At ResMac, we offer our Correspondents the ability to deliver on a Non-Delegated basis, eliminating the credit risk and expense of employing your own underwriting staff. Our consistent turn times allow for a prompt credit decision, enabling you to maintain your service level commitments to your referral sources.
For those who have recently made the transition from broker to banker, we offer a robust Emerging Banker platform. Let us assist in customizing a platform that works for you by incorporating one of our strategic partners, whether it be a fulfillment company or warehouse lender, we can make the necessary introductions and design a strategy that suits you best.
To qualify as an approved Correspondent, one must:
• Be in business for at least (2) years or have a minimum of (5) years experience in the mortgage business;
• Present evidence of a net worth of $100,000. Be properly licensed, active, and in good standing with the respective state(s) and NMLS;
• Have E&O Insurance at a coverage amount of $300,000, and a maximum deductible of $15,000;
• Have a traditional warehouse facility with a minimum line amount of $1,000,000;
• Provide a completed Correspondent application package, including an executed ResMac Purchase Agreement;
• Provide satisfactory investor score cards;
• Be in good standing with all governmental licensing and revenue collection agencies;
• Show an acceptable personal credit profile for all principal officers, owners and/or partners.
*Additional requirements may apply.