Scotsman Guide - June 2015 Residential Edition

Search Matrix: ScotsmanGuide.com/Correspondent

« Matrix: Correspondent Lending »

Tell lenders you found them in Scotsman Guide

Reverse Mortgage Solutions Inc.

888-830-9120

www.partners.rmsnav.com CONTACT: Garrett Kolb, Partners@rmsnav.com

0000000 Y
NATIONWIDE except: AK MA NY RMS is a full service reverse mortgage partner offering reverse mortgage loan origination, mortgage servicing,
securitization and REO asset management solutions.

Stearns Lending LLC

818-298-8038

www.stearnscorrespondent.com CONTAC T: Nick Pabarcus, npabarcus@stearns.com

2 1M 0 300K 1M 5M 40 Y Y Y Y Y Y Y Y Y Y 620

NATIONWIDE except: NY Minimum overlays; broad product offerings; experienced operations staff; correspondent client approvals in 2-3

weeks, loan purchasing in 3-5 days.

WesLend Financial

949-681-5254

www.weslendwholesale.com CONTAC T: Patricia Trimble, patricia.trimble@weslend.com

2 50K 0 500K 500K 0 0 Y Y Y Y Y Y 620

NATIONWIDE except: AR HI MS MT SD VT WV

COMPANYNAME 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24

REQUIREMENTS PROGRAMS OFFERED PRODUC TS OFFERED

17 Conforming

18 Portfolio/nonconforming

19 FHA

20 VA

21 USDA

22 Jumbo/super jumbo

23 Reverse

24 Minimum FICO

10 Third party originations

11 Emerging mortgage banker

12 Warehouse lines

13 Product pricing engine

14 Delegated underwriting authority

15 Flow

16 Bulk

1 Minimum years in business

2 Minimum company net worth ($K)

3 Minimum average monthly volume ($K)

4 Minimum E&O insurance coverage ($K)

5 Minimum fidelity bond coverage ($K)

6 Minimum warehouse line ($K)

7 Minimum company liquidity percentage

8 Audited financial statement

9 Personal guarantee

Scotsman Guide makes every attempt to ensure the quality of matrix and directory information, which all listed lenders verify or update monthly. Because of the production cycle and dynamic nature of the industry, loan product terms and availability may not reflect the latest changes. Please contact lenders directly for the most-recent program details. If you believe data is inaccurate or misrepresented, please e-mail: matrixfeedback@scotsmanguide.com.

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This matrix should be used by mortgage brokers or bankers
looking to develop a correspondent-lending relationship with
a larger lender (aka sponsor). Correspondent lenders originate
and fund loans in their own name and then sell the loan to a
larger lender that will service or sell the loan. Use this matrix
to find the sponsor whose minimum requirements, programs
and products fit your company’s needs.

800.819.4199 | info@cherrywood.com | cherrywood.com

Cherrywood Commercial Lending, LLC is licensed in California as a finance lender under the California Finance Lender Law, License 603 L126.

The Challenge

The borrower was originally unable to secure a refinance for his 38 property SFR Portfolio creating a maturity default.

The Solution

After entering into a forbearance agreement, borrower was able to obtain funding with Cherrywood Commercial Lending, LLC before borrower’s final extension was up.