Donnashi Enterprises, Inc.

Phone: 760.200.3402 Fax: 760.517.9091


  • A correspondent is a direct lender that is approved with one or more agencies such as: HUD, VA or USDA. A correspondent sometimes underwrites their own loans (delegated) and other times, has an investor (non-delegated) underwriting the loans on their behalf.
  • Whatever agency the correspondent is approved with, that agency considers them responsible for all parts of the loan activity from origination, insuring, quality control audits and transfer of the loan file.
  • Be properly licensed in their state as a mortgage banker
  • Be licensed as a HUD, VA, or USDA Mortgagee
  • An underwriter who is properly authorized to sign off on FHA, VA or USDA Loans
  • A Principal of the company who has a 2-year history of originating VA Loans (for VA-approval purposes)
  • A warehouse line of credit
  • Have a net worth of: $1,000,000 (HUD)
  • Have a net worth of: $250,000 or minimum working capital of $50,000 (VA)
  • Proper lender manuals: Residential P&P-Origination through Closing,Anti-Money Laundering, aka FinCEN, and a QC Plan in compliance with FHA, VA and Conventional Loans
  • Post-closing audits on 10% of your loan closings, as required by HUD, VA and all investors who purchase closed loans
  • Underwriting is delegated (you underwrite) or non-delegated (they underwrite)
  • You will need to subscribe with the Mortgage Electronic Registration System (MERS)
  • Warehouse Line of Credit: $1,000,000 (minimum) but your investors may require a higher warehouse line
  • HUD: Fidelity $300,000 Errors and Omissions (E&O) $300,000. Investors you sell loans to may require higher Fidelity, E&O limits as well as Liability insurance.

Donnashi Enterprises, Inc. provides hands-on assistance with all mortgage banking operations. Highlighted products and services are listed above and,listed below, are just some of the services we offer correspondents, as your company continues to grow.

Staff and departmental training for your operations staff. Consulting work to set up a department (i.e., compliance). Customized training available as well.