Vista Point Mortgage partners with lenders who want to responsibly expand their business by offering non-QM and non-Agency products to the millions of borrowers who are unable to obtain traditional government-financed mortgages. We offer private capital liquidity for non-QM and non-Agency residential mortgage loans with conduit operations catering to delegated Correspondents.

* Correspondent Seller Criteria

• Net worth of $1,000,000 is required for all correspondent sellers
• Business operating for at least 2 years. Or principals should have minimum 7 years’ experience in mortgage lending for newer firms
• Properly licensed to originate and sell mortgage loans
• Maintain a current Errors and Omissions Insurance Policy and Fidelity Bond with a minimum coverage of $300,000 per occurrence
• “Good standing” with all governmental licensing and revenue collection agencies (public record clear of civil or criminal judgements)
• All 25% or greater owners will have credit pulled. Any past credit difficulties will be reviewed and require a letter of explanation. Financial institutions subject to federal oversight are exempt

* Required Documentation

• Completed Correspondent Lending Seller Application, signed and dated
• Completed Loan Purchase and Sale Agreement – signed and dated
• Most recent Guidelines if Group 2 Contract Category, “Seller” selected
• Completed Credit Consent – signed and dated (or copy of credit report dated within 120 days)
• Corporate Resolution – to confirm authorized signatories for the company
• Loan Fraud Zero Tolerance Form, signed and dated
• Anti-Money Laundering and Suspicious Activity Reporting Attestation Form, signed and dated
• Current Resumes for all principal officers and senior managers addressing mortgage experience
• Most recent two years audited and most recent interim unaudited financial statements (within the past 5 months)
• Quality Control Policy
• Most recent Quality Control Audit and management response
• TPO Policy (if applicable)
• Company’s Appraisal Independence Requirements (AIR) policy
• Three most recent investor scorecards from investors (to include non-QM population if applicable)
• Proof of current fidelity bond with coverage meeting agency guidelines
• Proof of current errors and omissions insurance with coverage meeting agency guidelines
• W-9 Form

• Terms to qualify as a Correspondent are subject to change without notice. Additional documentation and requirements apply. Approval is subject to a full review of the information and documentation by Vista Point Mortgage.