Correspondent Lender Consulting Services will assist you in converting your Mortgage Broker Business to a Correspondent Lender in a matter of months. CLCS, not only brings its experience to the table and our countless industry contacts. As well as advising and training you and your staff through the complete process. With the purpose of building you an entire Mortgage Banking operation system.
Correspondent Lender Consulting Services will assist mortgage brokers in obtaining warehouse lines. CLCS realizes, however, that such warehouse lines are a bit intimidating like having a loaded gun. Without proper supervision of system and procedures the company could very easily shoot itself in the foot. CLCS will work with you to ensure implementation of system and safeguards that ensure efficient, timely utilization of the credit line to maximize its profit margins.
As a consultant, I have helped companies to make this move and have developed close relationships with multiple lenders and investors along the way making your company stronger and successful.
We will teach our clients how to maximize profits and avoid costly expenses when starting out a Mortgage Banker business.
The following are a brief overview of the steps we will assist you with:
Mortgage Lender License.
Fidelity Bond Insurance for 300,000 and Professional Liability/ E&O for 1,000,000.
Financial Statements
Audit Financials
Warehouse line from $2 MM- $20 MM depending on individual need, financial strength and industry experience.
Set up and train personnel and provide forms needed to operate the following departments:
Post Closing Department
Quality Control Department
Shipping Department
Closing Department
Lock In Department
Funding Department
Securing a closing doc software and train personnel.
Securing an account with MERS, MI Insurance Companies, DU Desktop underwriting and LP Loan Prospector.
Set up your origination software to generate MIN#'s.
Refer an outside underwriter, quality control, auditor, accountant and lender.
Fill out Lender applications.
Generate a company organization chart and QC plans.
YOU MUST ACT NOW.
Mortgage brokers may be facing extinction. The U.S. House of Representatives Financial Services Committee is considering a bill that will fundamentally change the way Mortgage Brokers will be paid. As it stands now, they plan to eliminate YSP. This law will force the Mortgage Brokers out of business. Act now call CLCS we will assist you in converting your Mortgage Broker license to a Correspondent Lender in a matter of months.
Benefits:
Do not disclose yield spread premium
Same day closing
Earn more $$$ when you sell your loan
You are in control of the file from start to finish.