We need correspondents in all parts of the US and possessions.  We are an FHA multifamily/health care provider with two new programs for smaller commercial loans and scattered condo and single family portfolios. Formerly we were an FHA, FNMA prior approval lender and a GNMA issuer. In this credit environment we are only providing FHA insured loans. These mortgages are 100% insured so we issue GNMA securities and sell them loan by loan.

This means we can’t run out of money. If there are no buyers in the market, the U.S. Government has to buy them. We also have sold these securities a few weeks before the closing so we have the entire amount of the mortgage waiting for the contractor and borrower to draw out the funds on new construction. We can’t run out of money half way through a project as some banks have. We expect rates to stay low for the next year although FHA insured rates are historically the lowest in the market place.

By becoming our correspondent, you would earn substantial fees which are paid within one or two days of a closing. Any borrower you refer that we sign, is protected for two years from his/her last submission. We cannot offer protection from other brokers as they have to conform to HUD rules so we try and sign them up if they appear. We would only pay you in those circumstances and not include the other broker in the initial transaction.

The biggest protection is that you become our correspondent when we send the engagement letter on any loan and that protects you in three major areas:

1) You never have to chase a borrower for fees

2) Because you are our correspondent, not a broker, you never have to worry about licensing issues (33 states require some form of commercial mortgage brokers license now). This is because the lender is paying you.

3) It does not cost the borrower any more to use your services than if they called us direct.

We can help your effort however as we offer our correspondents training materials, free mailing/cold call lists, and some promotional materials you can customize. Please call us at 800-536-3371 with any questions and you can read more here:


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