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.