Equity Loans LLC Lands Fannie Mae Seller Servicer Approval – NMP Skip to main content

Equity Loans LLC Lands Fannie Mae Seller Servicer Approval

Feb 26, 2013

Equity Loans LLC has announced that it has received approval as a seller/servicer of one- to four-family first lien mortgages to Fannie Mae for whole loan execution, further enhancing the lender’s product offering and benefits for borrowers. In securing Fannie Mae approval, Equity Loans’ financial condition, organization, staffing, experience and written processes and procedures were carefully vetted and tested by Fannie Mae. As a result, Equity Loans is now approved to sell mortgages for delivery to the government-sponsored enterprise (GSE). Equity Loans adds its Fannie Mae approval to its existing industry certifications and memberships, including: Better Business Bureau Accreditation; Community Mortgage Lenders of America; Lenders One; Mortgage Bankers Association; and the National Reverse Mortgage Lenders Association. “Equity Loans has one of the most diverse portfolios of loan products in the residential mortgage industry, and the ability to sell whole loans to Fannie Mae gives us a greater opportunity to help even more borrowers achieve their dreams of homeownership,” said Kunjan “KP” Patel, CEO of Equity Loans. “We’re looking forward to a successful and long-standing relationship with Fannie Mae.”
About the author
Published
Feb 26, 2013
Insuring The Risk To Lenders At Closing

Traditional protections like title insurance and closing protection letters may leave lenders exposed to significant settlement, funding, and fraud-related losses

CHLA Uses Trump Mortgage Order To Renew Push For LO Comp Reform

Community lenders want more flexibility over employee compensation, closing-cost estimates, down payment assistance, and federal supervision of smaller IMBs

Servicers Begin Testing Systems Ahead of VA Partial Claim Deadline

VA lenders and servicers have until Nov. 28 to implement the new loss mitigation waterfall and Partial Claim Program

ROAD Act’s Housing Incentive May Be Too Small To Move Supply

Realtor.com finds the median city risks losing only about $84,000, although the policy could carry more weight in supply-starved Northeast and Midwest markets

CRA Proposal Could Reshape Bank Lending And Affordable Housing Investment

The OCC and FDIC would put more weight on lending while easing community development requirements for hundreds of banks

Fannie Mae AI Governance Deadline Arrives Aug. 6

Seller/servicers using artificial intelligence in origination or servicing must have formal policies, oversight, and vendor controls in place