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WAREHOUSE LENDING

FIRST COLLATERAL SERVICES, INC.. Experts in Warehouse Lending Since 1985 Funded Over $100 Billion in Residential MortgagesOver 300 customers with total commitments exceeding $4 Billion Wholly owned subsidiary of CitiGroup . Warehouse Line Advantages. Originate Loans In Your Own NameControl

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WAREHOUSE LENDING

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    1. WAREHOUSE LENDING

    2. FIRST COLLATERAL SERVICES, INC. Experts in Warehouse Lending Since 1985 Funded Over $100 Billion in Residential Mortgages Over 300 customers with total commitments exceeding $4 Billion Wholly owned subsidiary of CitiGroup

    3. Warehouse Line Advantages Originate Loans In Your Own Name Control The Process Sell Directly To Investors Retain Servicing Grow Your Company Increase Profitability

    4. Making a Successful Transition Transition Models Obtain a warehouse line and become a mortgage banker Become a net branch of a mortgage banker Join a co-operative Sell your company to a banker or acquire an existing mortgage bank Where to Start? Choosing a Warehouse Lender Typical Questions From Brokers From Warehouse Lenders Success Strategy

    5. Transition Models

    6. Where to Start Review state licensing rules Identify potential investors with emerging correspondent programs Select products that you can originate and become familiar with investor pricing for those products Establish a relationship with a: Closing Agent Capable document prep company Third party mortgage insurer Based on size and scope of your operation, consider outsourcing or engaging a reputable consulting firm

    7. Choosing a Warehouse Lender

    8. Typical Questions From Brokers

    9. Typical Questions Warehouse Lenders What is your company’s financial picture? How long has your company been in business How is your company going to underwrite, document, settle/close and post-close its loans? Is your staff qualified to do all the back-office work? With which investor(s) is your company an approved correspondent? Are you licensed as a correspondent lender or mortgage banker in the jurisdictions in which you will originate loans? Does your company maintain errors & omissions and fidelity insurance? What products does your company originate and in what volume?

    10. Making a Successful Transition You must be willing to: Accept change Identify and work with experts to minimize risk Prepare a plan Understand what investors and warehouse lenders expect from you Embrace Technology Many third-party vendors have technology available that you can benefit from Don’t make the same mistake once.

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