Thank you for your Application to MetroFund. MetroFund is in the business to provide the absolute best in customer service to its mortgage brokers. Our goal is to help you reach your goal.
Approval is a simple automated process!
BROKER PACKAGE TO BE SUBMITTED TO METROFUND
The following documents are enclosed in this package for your completion and submission to MetroFund. No changes may be made to any documents that are provided in this package. Loans cannot be closed until your company is approved by MetroFund.
- Broker Application (submitted through Comergence Compliance Monitoring)
- Certification and Authorization for Release of Information (Must be typed)
- Nonexclusive Loan Brokerage Purchase and Sales Agreement (Must be typed)
- Original completed W-9 form (Must be typed)
- Certificate of Corporate Resolution and Authorized Officers
- Loan Fraud Zero Tolerance
- HVCC Certification
BROKER APPROVAL CRITERIA
In addition to a review of the materials noted above, our broker approval process includes:
- A review to confirm the applicant is properly licensed and authorized to originate and broker loans
- A review to confirm the applicant has good reputation in the industry with proven financial and operational references, a high level of professionalism and strong ethical standards.
- A review of the broker’s FHA Broker Compare Ratio.
- A review to confirm the applicant is in “good standing” with all governmental licensing and revenue collection agencies and has a public record clear of any civil or criminal judgments. A Broker that has been suspended, is currently under investigation by any agency or has open judgments will not be approved or may not be renewed to do business with MetroFund.
- A review to confirm the applicant has an acceptable net worth as evidenced by financial statements.
- A review to confirm the applicant has been LICENSED as a mortgage broker for at least two years.
- A review to confirm the applicant’s principals have at least five years experience in mortgage lending.
A $79.50 application background check fee will be charged to each applicant.