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Business Partner Application

Instructions

This form is to be used to guide and confirm all items required to submit a complete lending application to First Community Mortgage, Inc. (“FCM”).

Recommended to be filled out on tablet or desktop device.

File types accepted are:
.png .pdf .doc .docx .jpg .jpeg

Max Individual File Size: 5 mb

General Information

Address

Company's Information

Please enter Company's NMLS Identification Number OR FDIC/NCUA Number.

Contact Information and Authorized Officers

Instructions

List the names of ALL companies or individuals with ownership interest in your Company. The total ownership percentage (%) must equal 100%.

*Required to be listed on the Resolution.

Borrower Information
Company or Individual 1
Company or Individual 2
Company or Individual 3
Company or Individual 4
Company or Individual 5
Company or Individual 6

User Access List

Instructions

Please list all staff you would like to have access to our website. You can also upload a list(.csv, .doc, .docx, .pdf, .xlt, .xlsx) that includes all the information requested below for each user.

*One user must still be entered through the below form.

User 1
User 2
User 3
User 4
User 5
User 6

Volume

Conventional
Jumbo Conforming
FHA
VA
USDA
Purchase
Refinance
All production numbers are from:

General Questions

Instructions

Some answers will require you to provide a detailed explanation or upload copies of all relevant documents.

1. Has your company ever been named as a defendant in a lawsuit, been involved in any criminal proceedings or litigation in the past 7 years? Including any State or IRS liens.

2. Has any principal or officers ever been named as defendant in a lawsuit, been involved in any criminal proceedings or Litigation in the past 7 years? Including any State or IRS liens.

If yes, please provide a detailed explanation or upload copies of all relevant documents.

3. Have any principals or corporate officers ever been convicted of a crime?

4. Has your company, and/or principals or corporate officers, ever filed for protection from creditors under any provision of the bankruptcy code within the past seven years?

5. Has your company, and/or any principals or corporate officers, ever had a real estate or other professional license suspended, revoked or received any other disciplinary action from regulatory agency?

6. Has any lender enforced, or attempted to enforce, the Hold Harmless or Repurchase clause of their correspondent or broker agreement with your company and/or any principals or officers in the past 12 months?

7. Has any investor requested the repurchase of mortgages or requested an indemnity in the last twenty four months?

8. Has your company ever had a Mortgage Insurance Master Policy cancelled or suspended for any reason?

9. Has your company ever had a Mortgage Insurance Master Policy cancelled or suspended for any reason?

10. Has your company ever had unfavorable findings with regard to mortgage operations, included in any audit examination or report by FHA, VA, FNMA, FHLMC or any regulatory, supervisory or investigating agency?

General Questions

Instructions

Some answers will require you to provide a detailed explanation or upload copies of all relevant documents.

11. Has any owner, partner, officer, or director of you company ever been affiliated with any company/business that was suspended by FHA, VA, FNMA, or FHLMC?

12. Has there been a material change in company ownership, board of directors or senior management in the past 12 months?

13. Are there any affiliate relationships between your company or individuals in your company with any third parties who are engaged in real estate lending or real-estate service providers, i.e., contract processors, appraisers, closing agents, attorneys, surveyors, property inspectors, insurers, lenders or any other applicable situations?

14. Does your company currently have any affiliate relationships as defined by the Bank holding Act of 1956, or any affiliate business arrangements (ABA’s)?

15. Does your company have a process in place to insure compliance with high cost and anti-predatory lending statutes for all applicable federal, state and if necessary local laws?

If no, please provide a detailed explanation or upload copies of all relevant documents.

16. Does your company rent or own commercial office space for your main location as well as each branch location?

17. Has your company implemented and maintained a satisfactory hiring policy/process as required by the Dodd-Frank Act and Fannie Mae, including without limitation the following; obtain background check(s) for principal officers (including but not limited to, a credit report, screening through the mortgage fraud database or investor exclusionary list, and confirmation of business references, etc.). Check all employees involved in the origination of mortgage loans (including management) against all watch and/or exclusionary list, including but not limited to the U.S. General Services Administration (GSA) Excluded Parties List and the HUD Limited Denial of Participation List (LDP) and the Federal Housing Finance Agency (FHFA) Suspended Counterparty Program list. Business partner will retain and make available any information and/or records regarding any of the above requirements to First Community Mortgage, Inc. upon request.

Required Documents for All Submitted Applications

All FCM documents can be downloaded by clicking on their name below. The documents are in PDF format and can be opened in Adobe Reader.
Please click here for instructions on how to e-sign your documents.

1. Executed Broker Agreement

2. Executed Compensation Agreement

3. Corporate Resolution

4. IRS Form W-9

5. Fannie Mae - Desktop Underwriter Redistribution Agreement

6. Anti-Money Laundering Certification Form

7. Red Flags Questionnaire

8. Compliance Addendum

9. AIR Addendum

10. VA Sponsorship Form (Required only if closing VA loans with FCM)

11. Resumes of Principal Officers, Owners, and Underwriters

12. Quality Control Plan

13. Most recent 2 years Audited Financials or Corporate Tax Returns (Not required for Banks, Credit Unions or entities created prior to most current tax year)

Additional Requirements for Non-Delegated Correspondent

14. Executed Non-Delegated Correspondent

15. Non-Delegated Correspondent Profile

16. Copy of Appraisal Independence/AIRS Policy (If ordering appraisals outside of the FCM approved appraisal portal)

17. QC Finding & Management Responses (NDC Tier 2 only, as requested)

References

Provide 2 References

*Not required for banks or credit unions


Reference 1
Reference 2
Signature

I, the undersigned Officer, am authorized to provide this information to First Community Mortgage, Inc. on behalf of my company. I attest to the truth and accuracy (to the best of my knowledge and belief) of all the information provided to First Community Mortgage, Inc.

I hereby authorize First Community Mortgage, Inc. in connection with its due diligence investigation to process our application, secure Business Reports, check references, and other such financial information that shall be reasonably required.

Signature (Draw Below)