JMAC Lending launched its non-delegated correspondent program which establishes another JMAC lending channel for mortgage bankers and other financial institutions to grow their business.
The JMAC non-delegated correspondent lending channel is focused on serving lenders who currently have the resources to fund their own loans but prefer the security of having those loans underwritten by the purchasing investor before the loan closes. The lender originates closes and funds in their own name while JMAC Lending performs the underwriting, purchase review and loan purchasing activities.
JMAC Lending offers the most comprehensive non-delegated correspondent platform in the industry ensuring their clients become successful correspondent lenders. Some program highlights include:
►JMAC conducts pre-close purchase reviews to assure the loan will be purchased
►JMAC will purchase non-conforming loans in addition to FNMA and FHLMC
►JMAC provides disclosure assistance to ensure lenders are compliant
►JMAC helps create warehouse lending relationships
►JMAC allows closing docs to be ordered as a service
For the JMAC Direct programs, all refinancing will be referred back to the lender and no cross-selling will occur.
"Correspondent lending is the next logical expansion since it leverages our strengths in pricing, operations and compliance expertise in wholesale to assist our clients in growing volume and revenue without incurring substantial risk," said Christina Pham, CEO of JMAC. "The non-delegated correspondent platform provides execution flexibility for our customers and additional growth opportunities.”