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.”