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Broker Approval

5th Street Capital underwrites, draws docs and funds your Loans

Overview of Broker approval requirements:
  • Company Formation and DBA Registration document to be reviewed to verify applicant is in “good standing” with all governmental licensing and revenue collection agencies and has a clear public record
  • Licensing by the proper governing authority; be registered in NMLS and authorized to originate and broker loans
  • Most recent annual and YTD (most recent quarter) audited or unaudited financial statements
  • Balance Sheet to support net worth requirement
  • IRS Form W-9 – Must be completed, signed and dated by a corporate officer, member, partner or proprietor
  • Quality Control Policies & Procedures – If outsourced, provide agreement with vendor
  • Residential Mortgage Loan Origination Agreement & Zero Tolerance signed by a principal
  • Resume(s) of all Owners/Principals/Officers – to support 10+ years industry experience
  • Corporate Resolution – only applicable for Corporations (must be signed by an authorized person)
  • Broker Compensation Selection and Fee Election Form
  • References – provide 3-5 investor, lender, warehouse or MI company references
  • E&O Policy $100,000 minimum coverage per occurrence

We employ the resources of Comergence Compliance for all Wholesale Approvals. Please contact us, email sales@5thstcap.com or call 888-702-3385 to get started!

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