SouthStar announces new correspondent lending groupMortgagePress.comSouthStar Funding, correspondent lending group
SouthStar Funding has
enhanced its correspondent lending offering by combining its
correspondent partnership division with its loan acquisition group
to become the correspondent lending group. The correspondent
lending group targets community and regional banks, credit unions,
mid-size mortgage lenders, mortgage brokers and homebuilders.
Senior Vice Presidents Tommy E. Cruse and Brynn Stensrud will lead
the group.
SouthStar Funding's correspondent lenders are categorized into
three groups level one, level two and level three. These levels are
determined by how much risk the correspondent wants to take and
whether or not the correspondent has underwriting capabilities of
its own. Correspondents can choose to underwrite and pull documents
on their own loans, taking on greater risk, or they can have
SouthStar underwrite and order documents for them. The
correspondent lending group is extremely flexible and capable of
accommodating any special needs the correspondent may have.
The correspondent lending group provides correspondents with the
opportunity to attend SouthStar University, SouthStar's training
facility, where information about products is taught. The training
also provides correspondents with knowledge of how to better market
these products to their borrowers. In addition, SouthStar
University trains SouthStar account executives to serve both
brokers and correspondents, so if a broker becomes a correspondent,
the account executive will remain the same.
Atlanta-based SouthStar Funding is a non-conforming wholesale
lender. For more information, call (800) 567-9385 or visit www.southstar.com.
