USDA

Become a Correspondent

FirstBank’s Correspondent Lending Division purchases closed loans from approved independently owned Mortgage Lenders, Banks and Credit Unions; on a Delegated and Non-Delegated basis. While our standard approval is for retail production, we also offer an expanded approval option to qualified lenders that permits the sale of TPO (Wholesale), Fourth Party (Mini-Correspondent) and Fourth Party Correspondent (Traditional Correspondent) production as well.




Basic Eligibility Requirements:
  • Experienced management team & underwriting staff
  • Ability to fund own loans utilizing warehouse lines or internal bank funding
  • Minimum $1 million net worth required for Best Efforts delivery and Retail production
  • Minimum $3 million net worth required for Mandatory Delivery and TPO, Fourth Party & Fourth Party Correspondent Production
  • Proof of compliance with all state, federal & regulatory requirements
  • HUD Neighborhood Watch Total Compare Ratios below 150% for 1 & 2 yr. periods

Application Procedures:
  • Application, including submission of all required documentation, is completed online through Comergence. Completed application is reviewed, then findings are submitted to FirstBank’s Correspondent Approval Committee for evaluation
  • Application status is communicated immediately upon decision
  • Approved correspondents will be invited to attend a New Correspondent Orientation


Are you interested in pursuing a relationship with us? Contact LenderMgmt@firstbankcorr.com or Sales@firstbankcorr.com