CFPB Guidance on Mini-Correspondents
- Broker to Banker
and coaching on migrating from mortgage broker to mortgage
banker. Introduction and selection of investors, warehouse banks,
attorneys and other vendors necessary during the process. We can
assist with preparing for CFPB's warning concerning Mini-Correspondents.
- Setting Expectations
expectations for job performance for all positions, particularly MLO's.
Planning performance improvement for all positions, including
strong business measures every thing and every one. We are
experts at building meaningful, useful management reports which measure
both input and output, by individual, production unit and total.
- Back Office Setup and Training
and guidance on all back office operations: Warehousing, Funding,
Insuring, Shipping, Trailing Docs, Reporting on the status of missing
- Setting up Lock Desk Operations
- Setting up a Disclosure Desk
- Setting up a Compliance Department
the different compliance duties, record keeping, preparing for
examinations (keep in mind, we can't change history, prepare NOW!, before you receive the examination notice.)
- Shareholder Guidance
the owners of a mortgage company are skilled at other
businesses and want help understanding the mortgage business, its
unique laws and regulations. We also are adept at
recruiting skilled employees, training existing employees or
evaluating existing employees.
- Software Guidance
- Selecting or designing software for your unique circumstances.
(We don't program, we can assist your programmers in developing
for your specific needs). Frequently, we assist with connecting
or moving data from one system into another for further processing and/or reporting.
- Bank owned Mortgage
- Mortgage departments are natural additions to a bank's lending
operations but mortgage lending is substantially different than any other
kind of lending. We guide bankers through the decision analysis,
planning and projections for a department, selecting employees, software, processes,
management or even total restructuring of an existing department.
- Capital Presentations
preparing a capital raise presentation and presenting it, including
answering background questions about the industry.
"stuff" happens. We can assist you in working out of nearly any
problem including working with your attorney to develop strategy.