JMAC Launches Correspondent Program

In California, JMAC Lending has expanded its operations with the launch of a new non-delegated correspondent platform.

Billed by the company as "the most comprehensive non-delegated correspondent platform in the industry," JMAC's program is focused on serving lenders who currently have the resources to fund their own loans but would prefer to have them underwritten by a purchasing investor before those loans close.

While the lender originates, closes, and funds the loan in their own name, JMAC performs the underwriting, purchase review, and loan purchasing activities under the program. In addition to GSE loans, the company will also purchase non-conforming mortgages.

"Correspondent lending is the next logical expansion since it leverages our strengths in pricing, operations and compliance expertise in wholesale to assist our clients in growing volume and revenue without incurring substantial risk," explained Christina Pham, CEO for JMAC. "The non-delegated correspondent platform provides execution flexibility for our customers and additional growth opportunities."