Donnashi Enterprises, Inc.

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Phone: 760.200.3402 Fax: 760.517.9091

AGENCY-APPROVED MORTGAGE BANKER

Whether you're currently a mortgage bankerwho wants to add servicing, or to step up to the next level, we can help you achieve your company's goals. We have been helping companies expand their business model since 1988. Fannie Mae, Freddie Mac and Ginnie Mae approvals are required to sell and/or service loans for them.

GENERAL REQUIREMENTS:
  • Net worth requirements of:$2,500,000, plus a dollar amount representing. 25% of the outstanding principal balance of your loans serviced for Fannie Mae or Freddie Mac. Ginnie Mae: $2,500,000, unless you are delivering Manufactured Housing, then the net worth is: $10,000.000.
  • Minimum Risk-Based Capital Requirements: Formulas vary. Refer to an agency's "Minimum Capital Ratios" for more information.
  • Warehouse Line of Credit: Typically $2,500,000 or more.
  • Originators: Fannie Mae / Freddie Mac Sellers and HUD/VA Mortgagees: Your team must consist of (at least) one highly skilled senior (management) personnel with 3-5 years of experience in the following categories: A) Accounting B) Underwriting C) Secondary Marketing D) Funding E) Servicing F) Compliance G) Operations H) Customer Service, and I) Consumer Complaints. If you are using a servicing company to service your loans, which are delivered to any of the agencies, you must still have someone on your management team familiar with servicing management activities.
  • Servicers: Fannie Mae / Freddie Mac Sellers, Ginnie Mae issuers and HUD/VA Mortgagees: Your team must consist of (at least) one highly skilled senior (management) personnel with 3-5 years of experience in the following categories: A) Accounting B) Customer Service C) Collections D) Default Management E) Insurance and Tax Management F) Compliance G) Investor Reporting H) Custodial Account & Cash Management I) Reconveyance J) Consumer Complaints.
  • Have proper lender manuals: Residential P&P-Origination through Closing,Anti-Money Laundering, aka FinCEN, and a QC Plan in compliance with Conventional and Government loans. If using an outside servicer, you will need: Monitoring the Sub-Servicer. If you are servicing your own loans, add: Loan Servicing P&P and Servicing Quality Control Plan.
  • QC audits for all seller/servicers and issuers include: A 10% post-closing audit review (originations), a quarterly servicing audit, as well as Early Payment Default audits and MERS Quality Assurance Review.

Your company, as an originator, would perform all aspects of mortgage lending including: Underwriting, closing, transferring and servicing the closed loans.

Donnashi Enterprises, Inc.provides hands-on assistance with all mortgage banking operations. Highlighted services are listed above. We can assist you with servicing audits, staff training, set-up of new product and services, and can customize training to meet your company's needs as you grow.

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