The Correspondent Lending department was established to provide competitive Fannie Mae and Farmer Mac eligible products, experienced secondary market underwriting and inexpensive funding, along with compliance reviews and closing document preparation to participating Associations. We provide Associations with a menu of services that can be used in providing rural home loan financing to potential borrowers. This gives your Association the ease of selecting services that are just right to fit your needs.
- Products – AgFirst provides participating Associations with reasonably priced Fannie Mae and Farmer Mac eligible mortgage loans for borrowers looking to build or purchase their new home or refinance an existing mortgage or other debts. Our increased offering of adjustable rate mortgages (ARM) or fixed rate mortgages are priced similar to customers in urban areas, but have underwriting guidelines tailored to rural homeowners.
- Compliance – We review all loans throughout the process for compliance. Loans are reviewed for RESPA, TILA, HPML and QM in order to ensure adherence to the correct timelines, documentation, closing and servicing requirements.
- Underwriting – With experienced secondary market underwriters on staff at AgFirst, Associations do not need to worry about the investment needed to develop these skills in their employees. These services are available as needed and reduce a Correspondent’s contractual obligations.
- Loan Processing and Closing – AgFirst provides mortgage loan processing and closing document preparation to participating Associations, freeing up your staff to focus on loan origination.
- Loan Servicing – We offer reduced cost loan servicing to participating Associations and handle HPML escrow account management.
All of the services provided by AgFirst are competitively priced. This allows Association personnel to focus on all-important business creation rather than administrative tasks associated with the mortgage process.