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National Correspondent Lock PoliciesRevised 4/24/2018SECTION 1 INTRODUCTION ...................................................................................................................... 2

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How to fill out mini-correspondent loan purchase agreement

01

Begin by entering the date of the agreement at the top of the document.

02

Fill in the names and contact information of both the seller (mini-correspondent) and the buyer (loan purchaser).

03

Specify the terms of the agreement, including the purchase price, loan terms, and any conditions or contingencies.

04

Include any details regarding the property being purchased, such as the address, legal description, and any relevant disclosures.

05

Have both parties review and sign the agreement, along with any witnesses or notaries if required.

06

Make copies of the signed agreement for both parties to keep for their records.

Who needs mini-correspondent loan purchase agreement?

01

Mini-correspondents in the mortgage industry who are looking to sell loans to other lenders or investors.

02

Loan purchasers who are interested in buying loans from mini-correspondents as part of their investment strategy.

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What is mini-correspondent loan purchase agreement?

The mini-correspondent loan purchase agreement is a contract between a mini-correspondent lender and an investor that outlines the terms of the loan purchase.

Who is required to file mini-correspondent loan purchase agreement?

Mini-correspondent lenders are required to file the loan purchase agreement.

How to fill out mini-correspondent loan purchase agreement?

The agreement should be completed with all relevant loan and borrower information, signed by both parties, and submitted to the investor.

What is the purpose of mini-correspondent loan purchase agreement?

The purpose of the agreement is to establish the terms of the loan sale between the mini-correspondent lender and the investor.

What information must be reported on mini-correspondent loan purchase agreement?

The agreement should include details about the loan, borrower, purchase price, and any conditions or warranties.

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