STEP 03
Brokers wishing to do business with Nations Direct Mortgage
will be asked to complete the steps below:

• A newly completed broker application (with Comergence)
• Execution of Nations Direct Mortgage broker agreement
• Disclosure of Company Formation
• Business required to have a minimum of 3 years in business
• Prior Non-HUD approved brokers will be required to have been in business for 5 years
• If contract processor is used, the processor(s) must be properly licensed
• Where does the broker operate their business from? Commercial or Residential Location?
• Quality Control Plan (Agency Compliant). The Plan must include at a minimum:
  • • Process for insuring only properly licensed Loan Originators are accepting loan applications
    • Procedure for re-verifying documentation received from loan applicants
    • Process for insuring all applicable state/federal disclosures are provided to loan applicants
    • Procedure for insuring that all loan applicants are treated fairly
    • Process to insure all applications are dispositioned promptly and that files are retained according to federal or state requirements
    • Procedures for complying with all federal and state laws applicable to the broker
    • Process for auditing all loan files to ensure compliance with the Quality Control Plan
• Balance Sheet and Income Statement covering prior 12 months (dated within the last 90 days)

Nations Direct Mortgage will require all principal officers, owners, and /or partners to have an acceptable business credit profile. In the case of corporations, the entity must have a satisfactory corporate report. Any and all civil judgments, state/national level sanctions, or other legal engagement items will be reviewed on a case by case basis and will require complete disclosure and explanation. For any questions regarding this document or our recertification process please contact your account executive at (866) 762-3940