Wholesale and Correspondent Lending

734.669.8000  |  866.669.8100

1st Nations Reverse Mortgage

800.720.7003 x123  |  855.459.6663

Blueprint for Success

Approval Eligibility

Approval Eligibility

Huron Valley Financial is dedicated to partnering with Mortgage Lenders who have experience in the mortgage industry, proven knowledge and expertise in loan origination and customer care. Contact Us – Become A Partner!

Minimum Criteria for Eligibility To Become a Correspondent:

  • Minimum tangible net worth for Mortgage Brokers is $25,000 or the State requirement, whichever is less.
  • Minimum tangible net worth for non-delegated correspondents is $100,000.
  • Minimum tangible net worth for delegated correspondents is $1,000,000.
  • Owners / Principals of the company must have 5–10 years of experience in the residential mortgage business.

Application Documents Required:

  • W-9 Form
  • Articles of Incorporation / Organization / DBA filing
  • YTD Balance Sheet and Income Statement dated within the last 3 months
  • Resumes for all Principals
  • Quality Control Plan
  • Copy of Fidelity Bond, Surety Bond and E&O Insurance
  • Government Loan Approval / Sponsorship
  • Corporate Resolution (if applicable)
  • Appraisal Procedures

  Contact Us – Become A Partner!

TURN TIMES for December 12, 2018

UnderwritingBusiness Days
ConventionalPurchase1-2
ConventionalRefinance1-2
GovernmentPurchase1-2
GovernmentRefinance1-2
HVF Ordered AppraisalsPurchase7
Refinance7
Appraisal Inspection Date3-5
CAD Review1
Purchase Funding1-2
Broker Closing Documents2
UW Conditions Received Before 2 PM EST2
All turn times posted reflect document packages received before 2PM EST

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