Get Approved

 

Not yet approved? Get approved by submitting your broker application today.  

 

Application Package

Complete Broker Application Package by clicking link below and submit together with required documentation

Company Net Worth

  • Representative FICO <700: Minimum $25K or State requirement, whichever is greater
     
  • Representative FICO >700: State Requirement with no Fairway minimum requirement

Fidelity Bond E&O Insurance

N/A

Quality Control Plan

Required to initial the Quality Control/Internal Audit Certification located on the Client Application delegating Quality Control responsibilities to FIMC

References

Satisfactory references from Investors and/or Agencies. Document good standing relationship and the term of the relationship, if possible 

Credit History

Minimum 640 representative FICO score

Financial Statements

  • If representative FICO score is <700, provide:
    • Fully completed and executed IRS 4506T; AND
    • current YTD balance sheet and P&L (signed & dated); AND one of the following
    • Most recent 2 years filed business tax returns; OR
    • Most recent 2 years audited financials
       
  • If representative FICO score is >700 provide current YTD balance sheet and P&L (signed & dated) and any one of the following:
    • Most recent 2 Years audited financials; OR
    • Most recent 2 years filed business tax returns; OR
    • Most recent 2 years unaudited financials, Balance Sheet and P&L

Requirement for Depository Institutions (Banks & Credit Unions)

 In lieu of Financial Statements, provide the name of the Institution’s Regulator along with their assigned FDIC Certificate Number or Credit Union Charter Number.   

 

 

Application Package

Complete Mini-Correspondent Package by clicking link below and submit together with required documentation

Company Net Worth

  • Representative FICO <700: Minimum $25K or State requirement, whichever is greater
     
  • Representative FICO >700: State Requirement with no Fairway minimum requirement
     
  • For those clients wishing to submit correspondent business with less than $250K net worth, client will be required to utilize FLS for appraisal management
     
  • For Corresponding Lending, client to comply with net worth requirements as provided in HUD Mortgagee Letter 20-10, if submitting FHA loans

Fidelity Bond /

E&O Insurance

Documentation evidencing Fidelity Bond and E&O Insurance coverage with minimum policy limits of $300,000 

Quality Control Plan

Must provide a fully documented Quality Control Plan including the following:

  • Contain operating procedures for all employees who are and will be involved in or affected by the quality control process
  • Comply with the specific Quality Control requirements of FNMA, Freddie Mac, HUD and VA, as applicable

References

Satisfactory references from Investors and/or Agencies. Document good standing relationship and the term of the relationship, if possible 

Credit History

Minimum 640 representative FICO score

Financial Statements

  • If representative FICO score is <700, provide:
    • Fully completed and executed IRS 4506T; AND
    • current YTD balance sheet and P&L (signed & dated); AND one of the following
    • Most recent 2 years filed business tax returns; OR
    • Most recent 2 years audited financials
       
  • If representative FICO score is >700 provide current YTD balance sheet and P&L (signed & dated) and any one of the following:
    • Most recent 2 Years audited financials; OR
    • Most recent 2 years filed business tax returns; OR
    • Most recent 2 years unaudited financials, Balance Sheet and P&L

 Requirement for Depository Institutions (Banks & Credit Unions)

In lieu of Financial Statements, provide the name of the Institution’s Regulator along with their assigned FDIC Certificate Number or Credit Union Charter Number.   

 



 

 

 

 

DATES & DEADLINES
8/31/17 FHA Temporary Extension for the Condominium Project Approval Process Expires
 
9/27/17 Borrower data & Closing Disclosure will be required in the UCD file as per Uniform Closing Dataset (UCD)
 
9/27/17 Seller data & corresponding Seller-only Closing Disclosure will be required in the UCD file as per the Uniform Closing Dataset (UCD)
 
9/30/17 Fannie Mae/Freddie Mac HARP Extension expires
 

 

Lender ID #s

FHA Lender ID: 7950700001
VA Lender ID: 7951870000

MERS Org ID #: 1003924

MORTGAGEE, HAZARD, TITLE

Fairway Independent Mortgage Corporation
ISAOA/ ATIMA
4201 Marsh Ln.
Carrollton, TX 75007
Loan Number: _____________

ASK DESK

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LOCK DESK

ratedesk@fairwaywholesalelending.com
Hours: 8:30am - 6:00pm CST
Phone: 1(877) 743-6798, Opt. 1
Lock Cutoff: 8:00pm CST 

Send requests for
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Fairway Wholesale Lending, a Division of Fairway Independent Mortgage Corporation, NMLS Entity ID #2289
550 Warrenville Rd. Suite #300, Lisle, IL  60532
Direct:  (331) 212-8740
ask@fairwaywholesalelending.com
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