We are proud to offer more options to knockout loans with, because you should be confident when you are talking to your borrowers. Our Non-Delegated Lending offering is here to help you close more loans! From Submitting a Credit Package to Purchases, we’re ready to step up and take it on.
Here is your go-to guide for taking your Non-Delegated loans with FGMC Wholesale from submission to funded.
Here is your go-to guide for taking your Non-Delegated loans with FGMC Wholesale from submission to funded.
In Average Business Days
24 HOURS
(if file is missing documents needed for initial submission to Non-Delegated Underwriting, FGMC will not meet the published SLA)
| Non-Delegated Underwriting | |
| FHA | Purchase: 09/21 Refinance: 09/21 Streamline: 09/21 |
| Conventional | Purchase: 09/21 Refinance: 09/21 |
| VA | Purchase: 09/21 Refinance: 09/21 IRRRL: 09/21 |
| USDA | Purchase: 09/21 Refinance: 09/21 |
| Trailblazer Jumbo | Purchase: 09/21 Refinance: 09/21 |
| Pioneer Plus | Purchase: 09/21 Refinance: 09/21 |
| WS/NDC NON QM | Purchase: 09/16 Refinance: 09/16 |
| Clear To Close Review | |
| Purchase | 24-48 Hours |
| Refinance | 24-48 Hours |
| Prepurchase Review | |
| Initial Review | 2 Days |
| Conditions | 2 Days |
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FHA ID # 7516800049
VA ID # 6852450000
NMLS ID: 2917
Updated: September 23, 2021
Sarah is an innovative leader, who draws on 20 years of mortgage experience, coupled with her expertise in critical operational analyses and strategic decision making, to lead FGMC’s operations, credit risk and marketing groups to success. Sarah is passionate about organically cultivating the next generation of leaders in mortgage and building teams that advocate for a customer first mentality. She provides guidance and vision to those in her organization and encourages them to always lead by example. Throughout her career, Sarah has held a number of leadership positions where she strategically positioned companies for growth through process optimization implementations resulting in an upwards of 45% decrease in operational expense. She is also a member of the Mortgage Bankers Association, National Association of Professional Women and Support Women for Women International.
Laura is a dedicated and passionate mortgage professional who has been in the industry for over 20 years. With experience working both in various lender’s legal departments and in a law firm, she has extensive legal, compliance, governance, and risk management knowledge. She has led mortgage companies through the installation of TRID, MLO Compensation changes, Ability to Repay and Qualified Mortgage changes, as well as many other legal and compliance initiatives in the mortgage banking industry for both independent mortgage lenders and banks. Laura graduated from the Mortgage Bankers Association’s Future Leaders program in 2008 and its School of Mortgage Banking I. She is a member of the MBA Legal Issues & Regulatory Compliance Committee, member of the MBA State and legislative regulations committee, co-chair of ComplianceEase’s User Advisory Board, a frequent speaker at the MBA’s Regulatory Compliance conference, and an advocate through the Mortgage Action Alliance. Laura obtained her law degree from Loyola School of Law in New Orleans, her Bachelor of Arts in Religious Studies from the College of the Holy Cross in Worcester, MA, and is a Texas licensed attorney.
Michael is an innovative business professional, entrepreneur, and designated CFA. He has deep experience in financial reporting, FP&A, strategy, and investor relations. He is also the CEO and Founder of OptiFunder, a warehouse management system for residential mortgage originators. Prior to joining FGMC, he operated a mortgage advisory firm, McFadden Group and worked extensively additional banking and finance positions. He earned his MBA and Masters of Science in Accounting from Indiana University- Kelley School of Business and his Bachelor of Science in Physics from Indiana University.
Dwayne is an innovative administrative professional with over 20 years of financial leadership experience. He executes strategic planning across four FGMC departments: Enterprise Services, Talent Acquisition, Human Resources and Training Creating high-performing strategies for managing talent, increasing profitability, and contributing to corporate vision is what Dwayne does best. He is a proud Aggie with a Bachelor of Business Administration in Human Resources Management from Texas A&M University.
With over 25 years of experience building and supporting mortgage technology platforms, Vishnu Karra currently serves as First Guaranty Mortgage Corporation’s Chief Information Officer. His deep knowledge and passion for improving the digital mortgage experience has made him an expert innovator in his field. He has held a number of leadership positions in mortgage banking and has a proven record of executing on large and complex technology initiatives. Working at Stearns Lending for over 7 years, Vishnu served as Executive Vice President of Production Systems and accomplished creating digital mortgage platforms and overseeing the transition of legacy systems to more scalable and fault-tolerant technologies. Prior to his role at Stearns, Vishnu also held senior leadership positions in Technology at Bank of America Home Loans and Countrywide Mortgage where he managed teams of onshore and offshore resources of 200+ employees and met the unique technology needs of each of the origination channels he managed.
Jane is a dynamic leader with over 20 years of experience in the mortgage industry. She oversees FGMC’s Servicing, Oversight, and Project Management departments. She is highly skilled at building strategic teams and increasing revenue. Jane is a master of finding creative solutions with attention to all regulatory, investor and agency guidelines in order to meet company goals. She earned her Bachelor of Science in Business Communication from California Lutheran University.
Aaron is a strategic leader with over 20 years of experience and expertise across all phases of mortgage lending and servicing. His leadership at FGMC has been transformative in terms of innovation, company culture and profitability; specifically, with the development of a proprietary Non-QM product line Maverick Solutions and the re-launch of FGMC’s Wholesale Division. Prior to his current role, Aaron served in various executive roles in correspondent, retail, consumer direct and wholesale lending channels where his responsibilities included the acquisitions of mortgage servicing rights, corporate M&A, and management of residential loan portfolio subservicing. Aaron is a finance graduate of The University of North Texas, an active member of the MBA, and is recognized industry-wide as a leader in the MSR space.
September 23, 2021
| Initial Disclosures Only | |
| September 22nd | |
| Initial Disclosures and Loan Set-up | |
| Working on full files submitted on September 20th |
| Working on Purchase loans submitted to underwriting on | |
| FHA Purchase | September 16th |
| VA Purchase | September 23rd |
| USDA Purchase | September 22nd | Conventional Purchase | September 15th | Non-QM Purchase | September 14th | Trailblazer Jumbo Purchase | September 23rd |
| Working on Refinance loans submitted to underwriting on | FHA Streamline Refinance | September 17th | FHA Refinance | September 15th |
| VA IRRRL Refinance | September 17th |
| VA Refinance | September 23rd |
| USDA Refinance | September 23rd |
| Conventional Refinance | September 14th |
| Non-QM Refinance | September 14th |
| Trailblazer Jumbo Refinance | September 23rd |
| Underwriting - Final Approval | |
| Underwriters Reviewing CTC Purchase Conditions from | September 20th | Underwriters Reviewing CTC Refi Conditions from | September 23rd | Underwriters Reviewing CTC IRRRL Conditions from | September 23rd | Underwriters Reviewing CTC Streamline Conditions from | September 23rd |
| Non-QM CTC Reviews | |
| Purchase CTC review | 48 hours | Refinance CTC review | 48 hours |
| Account Manager - Conditions | |
| 48 Hours | |
| Closing Disclosure | |
| 24 hours | |
| Closing/Scheduling | ||
| Purchase | 2 Days | |
| Refinance | 2 Days | |
| Last Day to Issue Initial CD Purchase |
September 27th | |
| Last Day to Issue Initial CD Refinance | September 21st | |
FHA ID # 7516800049
VA ID # 6852450000
NMLS ID: 2917
*Turn times are subject to change daily.
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Maverick Solutions Flyers
Champion Prime Jumbo
Updated 01/24/2020
Achiever Expanded Credit
Updated 01/24/2020
Visionary Investment
Updated 01/24/2020
Maverick Solutions Product Matrix
Updated 03/16/2020
Maverick Solutions Product Guide Updates
Champion Prime Jumbo Updates
Updated 03/06/2020
Achiever Expanded Credit Updates
Updated 03/06/2020
Visionary Investment Updates
Updated 03/06/2020
White Label Program Flyers
Lunch And Learn Flyer
Updated 01/14/2020
Asset Depletion Program
Updated 02/12/2020
Bank Statement Program
Updated 02/12/2020
Debt Service Coverage Ratio Program
Updated 02/12/2020
Jumbo with No MI Program
Updated 02/12/2020
Non-Warrantable Condo Program
Updated 02/12/2020
Expanded Credit Program
Updated 02/12/2020
Condotel Program
Updated 02/12/2020
Texas Cash Out Program
Updated 02/12/2020
Investment
First Guaranty Mortgage Corporation (FGMC) believes that a robust product and program set is an important facet of FGMC’s goal of helping consumers fulfill their financial goals. FGMC leverages a logical approach to the evaluation of borrower capacity and creditworthiness, with an emphasis on Ability to Repay (ATR) and risk mitigation through sound underwriting and documentation practices. Our products and programs are supported by compliance and quality control.
The Visionary Investment program was created for the borrower who has a vision for transforming a home into a long-term investment, but still wants some flexibility in how they do it. This could mean a higher Debt-to-Income Ratio or providing an alternate way to document their income. The program allows for:
We believe the Visionary borrower has a strategic home buying story, and Maverick Solutions wants to help tell it.
Meet Jonathan.
Jonathan is a small business owner. He has worked hard to build his business, and is proud to watch it grow. He’s a visionary. Jonathan is one of a kind, just like his loan.
Expanded Credit
First Guaranty Mortgage Corporation (FGMC) believes that a robust product and program set is an important facet of FGMC’s goal of helping consumers fulfill their financial goals. FGMC leverages a logical approach to the evaluation of borrower capacity and creditworthiness, with an emphasis on Ability to Repay (ATR) and risk mitigation through sound underwriting and documentation practices. Our products and programs are supported by compliance and quality control.
The Achiever Expanded Credit Program was created for the financial achievers out there. The Achiever may have hit a credit bump or two along the way, but they still want the opportunity to maximize their buying power. The program allows for:
We believe the Achiever borrower often has a good comeback story, and Maverick Solutions wants to help tell it.
Meet Erin.
Erin was laid off from her job a few years ago and got behind on some of her bills. She has a great job now, and she’s working hard to improve her financial situation. She’s an achiever. Erin is one of a kind, just like her loan.
Prime Jumbo
First Guaranty Mortgage Corporation (FGMC) believes that a robust product and program set is an important facet of FGMC’s goal of helping consumers fulfill their financial goals. FGMC leverages a logical approach to the evaluation of borrower capacity and creditworthiness, with an emphasis on Ability to Repay (ATR) and risk mitigation through sound underwriting and documentation practices. Our products and programs are supported by compliance and quality control.
The Champion Prime Jumbo Program was created for the borrower who is looking to maximize their buying power, but still wants some flexibility in how they do it. This could mean a higher Debt-to-Income Ratio, or providing an alternate way to document their income. The program allows for:
We believe the Champion borrower has a unique home buying story, and Maverick Solutions wants to help tell it.
Meet James.
James has worked hard throughout his career and made his way to the top. Now he’s finally ready to buy his family’s dream home. He is a champion. James is one of a kind, just like his loan.
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