First Funding Blog

What operational changes when a mortgage broker becomes a mortgage banker?

Very few changes, if any are expected. FirstFunding Warehouse Funding Facilities are designed to allow you to do what you do best…originate mortgage loans. Once you obtain an underwriting “clear to close”, your staff simply places the order with the fulfillment service provider. Thereafter, you can monitor the progress via the internet tracking tool provided by the fulfillment service provider. The tracking tool breaks down each significant step carried out by the fulfillment service provider on behalf of you and FirstFunding up to and through closing, funding and shipping of the loan to the secondary market investor. FirstFunding prepares and distributes reports daily to its customers so that they always know what is on their Warehouse Funding Facility and what has been received. FirstFunding can also provide a reconciliation of the secondary market investor funds received on a given transaction.