Broker Documents

  • Broker Quick Reference Guide
  • eConsent and eDisclosure Guide for Consumers
  • Loan Estimate Review Guide
  • Settlement Service Provider List (SSPL) Review Guide
  • Visa Eligibility
  • FHLMC Approved Credit Vendors
  • SSA-89
  • Wholesale Fee Schedule
  • TX 50 (a)(6) and 50(a)(4) Refinance Eligibility Matrix
  • Broker Disclosures Matrix

Turn Times

In Average Business Days

24 HOURS

Loan Setup

(if file is missing documents needed for initial submission to Non-Delegated Underwriting, FGMC will not meet the published SLA)

Decisions
Non-Delegated Underwriting
FHA Purchase: 04/07 Refinance:04/07 Streamline:04/07
Conventional Purchase:04/09 Refinance:04/07
VA Purchase:04/07 Refinance:04/07 IRRRL:04/09
USDA Purchase:04/09 Refinance:04/09
WS/NDC NON QM 48 Hours
Jumbo Purchase:04/08 Refinance: 04/08
Clear To Close Review
Purchase 24-48 Hours
Refinance 48-72 Hours
Prepurchase Review
Initial Review 2-3 Days
Conditions 2 Days
***Turn times are subject to change daily.
 
 
 
FGMC IDs

FHA ID # 7516800049
VA ID # 6852450000
NMLS ID: 2917

Updated: April 9, 2021

Sarah Gonzalez

Chief Operating Officer
  • 2020 NMP Woman of Inspiration
  • 2020 Housingwire Vanguard
  • 2020 Top 100 in Finance
  • 2019 Housingwire Woman of Influence
  • 2019 and 2020 Cultural Award Keystone Finalist The Five Star Institute Award
  • 75 Elite Women of 2017 by MPA Award
  • 2016 Housingwire Insider Award

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 C. LaRaia

Chief Legal Officer
  • 2020 DS News Top 25 Women in Law
  • 2020 Housingwire Woman of Influence
  • 2020 Laurie A. Maggiano Legacy Keystone Finalist The Five Star Institute Award
  • 2020 General Counsel Leadership Through Crisis: Banking Industry Award
  • 2020 NEXT Powerhouse Award
  • 2020 Top 100 in Finance

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 McFadden

Chief Financial Officer

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 Smith

Chief Administrative Officer

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.

Vishnu Karra

Chief Information Officer

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 Gershman

Chief of Staff
  • 2019 and 2020 Keystone Award Nominee
  • 2018 Elite Women MPA award

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 Samples

Chief Executive Officer and Member of the Board of Directors
  • 2019 Vanguard award
  • Top 100 in Real Estate

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.

Trailblazer Jumbo Resources

  • Trailblazer Jumbo Product Flyer
  • Trailblazer Jumbo Product Matrix
  • Trailblazer Jumbo Product Guide

Trailblazer Jumbo Resources

  • Trailblazer Jumbo Product Flyer
  • Trailblazer Jumbo Product Matrix
  • Trailblazer Jumbo Product Guide

New URLA Resources

  • The Redesigned URLA Powerpoint
  • The Redesigned URLA Recording
  • The Redesigned URLA Infographic

Maverick Solutions Resources

Product Matrices

    Non-QM Product Matrix
    Visionary Investment Product Matrix
    Champion Prime Product Matrix
    Achiever Expanded Credit Product Matrix
    Trailblazer Jumbo Product Matrix

Product Flyers

    Champion Prime
    Achiever Expanded Credit
    Visionary Investment
    Trailblazer Jumbo
    Visionary Investment White Label
    Trailblazer Jumbo White Label
    Champion Prime White Label
    Achiever Expanded Credit White Label

Program Flyers

    Bank Statement Program
    Debt Service Coverage Ratio Program
    Jumbo Options Program
    Expanded Credit Program
    Non-Warrantable Condo Program
    Non-Warrantable Condo Program White Label
    Bank Statement Program White Label
    Debt Service Coverage Ratio Program White Label
    Jumbo Options Program White Label
    Expanded Credit Program White Label

Checklists/Forms

    QM/Non-QM Loan Submission Form
    Non-QM Loan Submission Checklist
    Non-QM Income Worksheets
    Non-QM Non-Warrantable Condo Project Review Form

Visionary Investment Resources

  • Visionary Investment Product Flyer
  • Visionary Investment Product Matrix
  • Non-QM Product Matrix

Champion Prime Resources

  • Champion Product Flyer
  • Champion Product Matrix
  • Non-QM Product Matrix

Achiever Expanded Credit Resources

  • Achiever Expanded Credit Product Flyer
  • Achiever Expanded Credit Product Matrix
  • Non-QM Product Matrix

Champion Prime Jumbo Resources

  • Champion Prime Product Flyer
  • Champion Prime Product Matrix
  • Non-QM Product Matrix

Achiever Expanded Credit Resources

  • Achiever Expanded Credit Product Flyer
  • Achiever Expanded Credit Product Matrix
  • Non-QM Product Matrix

Visionary Investment Resources

  • Visionary Investment Product Flyer
  • Visionary Investment Product Matrix
  • Non-QM Product Matrix

Appraisal Documents

  • Appraisal Transfer Requirements
  • Appraisal Fee Schedule
  • FGMC Wholesale Appraisal Ordering Job Aid
  • FGMC Wholesale Download and Save Appraisal Order Job Aid
  • How to Order a VA Appraisal
  • VA Appraisal Requirements
  • AMC Panel
  • Appraisal Portal Account Creation Job Aid

Turn Times

April 9, 2021

 
 
Wholesale Turn Times
Initial Disclosures Only
April 8th
Initial Disclosures and Loan Set-up
Working on full files submitted on April 8th
Working on Purchase loans submitted to underwriting on
FHA Purchase April 9th
VA Purchase April 9th
USDA Purchase April 9th
Conventional Purchase April 8th
Trailblazer Jumbo Purchase April 8th
Non-QM Purchase April 6th
Working on Refinance loans submitted to underwriting on
FHA Streamline Refinance April 9th
FHA Refinance April 9th
VA IRRRL Refinance April 7th
VA Refinance April 9th
USDA Refinance April 9th
Conventional Refinance April 9th
Underwriting - Final Approval
Underwriters Reviewing CTC Purchase Conditions from April 8th
Underwriters Reviewing CTC Refi Conditions from April 8th
Underwriters Reviewing CTC IRRRL Conditions from April 8th
Underwriters Reviewing CTC Streamline Conditions from April 8th
Account Manager - Conditions
48 Hours
Closing Disclosure
April 8th
Closing/Scheduling
Purchase 2 Days
Refinance 2 Days
Last Day to Issue Initial CD
Purchase		 April 26th
Last Day to Issue Initial CD Refinance April 22nd
 
 
 
 
FGMC IDs

FHA ID # 7516800049
VA ID # 6852450000
NMLS ID: 2917

*Turn times are subject to change daily.

Agency Underwriting Guidelines

  • FHA
  • VA
  • USDA
  • FNMA
  • FHLMC

Non-Delegated Resources

  • Non-Del Portal Link
  • Non-Del Quick Reference Guide
  • SOAR Portal Guide
  • Non-Del Submission Form
  • Non-Del Checklist
  • Lock Policy
  • Non-QM Wholesale Pricing Job Aid

Announcements

  • Mortgage Fraud - Employee Misrepresentation
  • Appraisal Management Company Choice
  • VA Purchase & Cash Out Refinance Credit Score Overlay
  • Streamline Refinance Transactions: Overlay
  • FHA Condo Project Approval and Single Unit Approval
  • Texas 50(a)(6) and 50(a)(4) Appraisal Requirements
  • Conventional QM HPML Overlay
  • VA Cash Out Refinance LTV Limitation Overlay
  • Fannie Mae Credit Document Expiration Date Overlay
  • Seller Paid Fees and Costs Included on the Borrowers CD
  • Seller Paid Fees and Costs Included on the Borrowers CD
  • Veterans Affairs (VA) Handbook Changes Overlay and Helpful Hints
  • Self-Reported Tradelines
  • VA IRRRL & Recoupment

Bulletins

  • Updates Related to COVID-19
  • AMC Panel List
  • Overlay: Conflicts of Interest/ Dual Compensation
  • FEMA Disaster Declaration - Tennessee Severe Storms, Straight Line Winds, and Flooding
  • South Dakota Severe Storms, Tornadoes and Flooding (DR-4469)
  • Loan Limit Increases: 2020
  • VA Assisted Appraisal Processing Program (AAPP)
  • VA Circular 26-19-23: Blue Water Navy Vietnam Veterans Act of 2019
  • South Dakota Severe Storms, Tornadoes and Flooding
  • USDA Form RD 3555
  • FEMA Disaster Declaration- Texas Tropical Storm Imelda
  • FEMA Disaster Declaration- Mississippi Severe Storms, Straight-Line Winds, Tornadoes and Flooding
  • USDA Fiscal Year 2020 Conditional Commitment Notice
  • Private Transfer Fees
  • USDA Elimination of Interest Rate Cap
  • Hurricane Dorian Activity Suspension
  • VA Circular 26-19-22, Clarification Updates to Policy Guidance for VA IRRRL
  • Hurricane Dorian Activity
  • VA Refinance Transactions
  • FHA Mortgagee Letter 2019-11, Minimum Loan-To-Value and Combined Loan-To-Value Percentages for Cash-out Refinance Mortgages
  • FEMA Disaster Declaration - Texas Severe Storms and Flooding
  • FEMA Disaster Declaration - Missouri Severe Storms, Tornadoes, and Flooding
  • VA Circular 26-19-17, Funding Fee Guidance
  • FEMA Disaster Declaration - Arkansas Severe Storms and Flooding
  • FEMA Disaster Declaration - Oklahoma Severe Storms, Straight-line Winds, Tornadoes, and Flooding
  • FEMA Disaster Declaration - South Dakota Severe Winter Storm, Snowstorm, and Flooding
  • FEMA Disaster Declaration - Alabama Severe Storms, Straight-Line Winds, and Tornadoes
  • FEMA Disaster Declaration - Nebraska Severe Winter Storm, Straight-line Winds, and Flooding
  • FEMA Disaster Declaration - Iowa Severe Storms & Flooding

Condo Documentation

  • Limited Review- Established (for applications dated prior to 12/07/20)
  • Full Review – Established (for applications dated prior to 12/07/20)
  • Limited Review- Established (for applications dated on or after 12/07/20)
  • Full Review – Established (for applications dated on or after 12/07/20)
  • New or Newly Converted
  • Non-QM Non-Warrantable Condo Project Review Form
  • Condominium Project Review Job Aid

Marketing Resources

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

Product Matrices

  • FHA Matrix
  • FNMA Matrix
  • FHLMC Matrix
  • USDA Matrix
  • VA Matrix
  • FGMC Wholesale Overlay Guide
  • VA Matrix
  • Manufactured Homes Job Aid
  • Trailblazer Jumbo Product Matrix

Checklists/Forms

  • Affiliate Disclosure Form
  • Anti-Steering Disclosure
  • Closing Doc Request Form
  • Intent to Proceed Certification
  • Verbal Authorization to Obtain a Credit Report
  • SSN Form
  • 4506-C Form
  • 4506-C W2 Example
  • 4506-C 1040 Example
  • 4506-C 1120 & 1065 Example
  • QM Wholesale Submission Checklist
  • Notice of Changed Circumstance
  • FHA Case Number Transfer Request Form
  • Non-QM Income Worksheet
  • VA Max Loan Amount Worksheet

Submission Documents

  • Non-QM Wholesale Submission Checklist
  • Initial Disclosure/Submission Job Aid
  • QM/Non-QM Wholesale Loan Submission Form
  • QM Wholesale Submission Checklist
  • Wholesale Fee Schedule
  • Broker Disclosures Matrix
  • Anti-Steering Disclosure
  • Verbal Authorization to Obtain a Credit Report
  • FHA Case Number Order
  • Affiliate Disclosure Form
  • VA Max Loan Amount Worksheet

    Daily Rate Sheet Sign-up Form

    I'm interested in receiving Daily Rate Sheets!

    Preferred format

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      <

      Visionary

      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:

      • Loan amounts up to $3,000,000
      • Fixed, Interest Only, and ARM options
      • DTI up to 50%
      • Credit Scores as Low as 540

      We believe the Visionary borrower has a strategic home buying story, and Maverick Solutions wants to help tell it.

      Download Flyer

      Contact Us

      maverick logo

      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.

      >
      <

      Achiever

      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:

      • Loan amounts up to $3,000,000
      • Fixed, Interest Only, and ARM options
      • Credit Scores as Low as 500
      • Non-Warrantable Condos Allowed
      • Bank Statement Based Income Sources Allowed for Self-Employed Borrowers

      We believe the Achiever borrower often has a good comeback story, and Maverick Solutions wants to help tell it.

      Download Flyer

      Contact Us

      maverick logo

      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.

      >
      <

      Champion

      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:

      • Loan Amounts up to $3,000,000
      • Interest Only & ARM options
      • DTI up to 53%
      • LTV up to 95%

      We believe the Champion borrower has a unique home buying story, and Maverick Solutions wants to help tell it.

      Download Flyer

      Contact Us

      maverick logo

      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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