Loan Submission Options & Fees

Options

Delegated Closed Review

• Loans are submitted for review after the loan has closed in the correspondent's name.
• File review is completed, and material items are addressed with the correspondent.
• Once material items have been addressed, loan can be purchased.

Non-Delegated - Front Line Underwriting Services

• Loans are underwritten by FGMC’s in-house underwriters.
• Conditions are provided to the correspondent to obtain.
• Once conditions are received and cleared by an FGMC underwriter, a Clear-to-Close will be issued (CTC).
• All FGMC approved products are available through the non-delegated channel.

Fees

• $389 funding fee for "Closed" loan review.
• $745 funding fee for "Non-Delegated" underwrite.
• Supplemental Origination charge where FGMC will administrate the escrow.