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Do I have to be a licensed lender to be a partner?
No, CU Mortgage Express does not require you to be a licensed lender.
Do I have to have licensed LO’s?
No, CU Mortgage Express does not require you to have licensed LO’s. You may, however, wish to have your LO’s become licensed through NMLS to be able to converse directly with client about certain things including rate, etc.
Do I have to sign a long term agreement?
No, CU Mortgage Express does not require you to sign a term length agreement. We only require a Loan Origination agreement .
How long does it take to get set up?
Set up time can vary depending on the existing level or lack of lending knowledge and training needed. Set up is minimal as all systems are web based. Set up could happen within 2-3 weeks.
How soon after loan closing until we get paid?
Loan Origination fees will be paid with 21 days of closing.
Do we need to be an approved seller/servicer with Fannie Mae or Freddie Mac?
No. CU Mortgage Express partners are not required to be approved as a seller/servicer. Loans will be underwritten, processed, and funded in the name of Harvesters CU.