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Wire Calculation Worksheet

Wire Calculation Worksheet

Reconciliation Worksheet

Reconciliation Worksheet

Originator Resources

Correspondent lending is the answer.

Non-delegated Correspondent Lending vs. Brokering Loans

Here is a comparison of the two channels:





Generate your own LE and manage Change of Circumstances

Wholesale lender generates LE and manages Change of Circumstances


Compensation managed by correspondent

Compensation plans are fixed for each investor

Appraisal Management

You manage relationship with AMC and order appraisals. Appraisal is in your name and is portable

Order appraisals through wholesale lender’s AMC. Appraisal is in lender’s name and is not portable


Underwriting by the investor or delegated with approval

Underwriting by wholesale lender

Closing Process

You may choose which approved fulfillment company to use, or continue to use docs from lender

Closing is ordered and managed by wholesale lender

The benefits are clear.

When you transition from broker to correspondent, you will realize many benefits.

You will gain more control of the loan process and your business in general. This added control and flexibility allows you to:

  • Be more profitable
  • Eliminate unnecessary delays
  • Recruit and retain loan officers
  • Gain more credibility with realtors, builders, and borrowers

What are the steps to becoming a correspondent lender?

  1. Contact your state or local licensing authority for lender licensing requirements.
  2. Apply for your Goldome warehouse line.
  3. Verify your eligibility with your investors.
  4. Decide fulfillment strategy and set up with fulfillment company if outsourcing.
  5. Apply to become a MERS lite Member.
  6. Apply to become a UCDP Member with FMNA and FHLMC.
  7. Contact a Mortgagees E&O and Fidelity Bond insurance company.

Please contact us for suggestions for insurance providers.

Account Executive Resources

Why should I convert my brokers to correspondents?

Account Executives in the mortgage industry wear many hats. TRID specialists, underwriters, creative condition resolvers, appraisal reviewers, closers, and funders. Well not exactly those jobs, but AEs easily get stuck in the file flow. This often takes too much time away from the primary job functions, to build partnerships and become business consultants for our clients.

We have been in your shoes for many years and found the best way to get into the volume is to get out of the flow. A wholesale AE is involved in every step of the transaction because your company performs all of those functions for a broker. The question becomes, how do I get out of the flow?

The answer is correspondent lending. Correspondents with the proper approval are able to manage their TRID disclosures, manage their own AMCs and appraisal ordering, and choose to use the investor for docs or choose an approved fulfillment company to use the same closing team and process regardless of investor. This takes you out of the flow and keeps you focused on building the partnerships with your clients and getting more loans.

When you convert a client to correspondent, his view of you changes from one of many wholesalers to one of his business partners. Most clients had many wholesaler lenders, but just a few correspondent partners. This helps you gain more market share while spending less time in the file flow. These clients are more loyal and resistant to changing lenders over price.


You can count on our team.

Each of our sales team members have over 15 years of warehouse and correspondent lending experience. We will design a line to precisely fit your needs now and in the future.

Get started today.

Please contact us to get started.