Become an Approved Broker.
|Annual Recertification Agreement|
- A newly completed broker application (with Comergence)
- Execution of Nations Direct Mortgage broker agreement
- Disclosure of Company Formation
- Business required to have a minimum of 3 years in business
- Prior Non-HUD approved brokers will be required to have been in business for 5 years
- If contract processor is used, the processor(s) must be properly licensed
- Where does the broker operate their business from? Commercial or Residential Location?
- Quality Control Plan (Agency Compliant). The Plan must include at a minimum:
- Process for insuring only properly licensed Loan Originators are accepting loan applications
- Procedure for re-verifying documentation received from loan applicants
- Process for insuring all applicable state/federal disclosures are provided to loan applicants
- Procedure for insuring that all loan applicants are treated fairly
- Process to insure all applications are dispositioned promptly and that files are retained according to federal or state requirements
- Procedures for complying with all federal and state laws applicable to the broker
- Process for auditing all loan files to ensure compliance with the Quality Control Plan
Nations Direct Mortgage will require all principal officers, owners, and /or partners to have an acceptable business credit profile. In the case of corporations, the entity must have a satisfactory corporate report. Any and all civil judgments, state/national level sanctions, or other legal engagement items will be reviewed on a case by case basis and will require complete disclosure and explanation. For any questions regarding this document or our recertification process please contact your account executive at (866) 762-3940
- Short form Renewal Application
- Update any change of ownership
- Updated Quality Control Plan (Agency Compliant, see Approval Requirements for details).
- Detailed Loan Officer/Processor listing with NMLS #’s, email address, phone number
- Resumes of all Principals and owners of company (if any changes)