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