Southwest Bank's Mortgage program is designed specifically for emerging correspondent lenders. We have what it takes to make your job easier—superior service and some of the best possible terms.
- Facility multiples of up to 20x liquid net worth
- Personal liquidity of guarantors added to company liquidity to determine maximum facility size
- Facility interest rate equals mortgage note rate
- Competitive transaction fees
- Application deposit refundable if either declined or if your company goes active with Southwest Bank
- No additional fees for shipping, wiring, or even renewal
- Funding system accepts Fannie Mae 3.2 formatted data and scanned images of files for speedy responses and on-time wires
- Choose your own fulfillment provider from bank-approved list
- Loans should be pre-approved by the permanent investor
- Third Party Fulfillment to be used for funding and delivery of loan files
- Minimum $300,000 Fidelity Bond and Errors & Omissions Coverage
Best of all, note rate pricing plus a flat transaction fee means you can control your warehouse cost before funding. The freedom to choose your own fulfillment provider means you can control your quality of service always.