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Changes to Correspondent Credit Reports

Effective July 10, 2017, JMAC Lending will accept credit reports directly from correspondent clients. JMAC will no longer pull new credit reports. Restrictions include the following:

  • The credit report must be within 30 days of submitted date

  • The credit report is only good for 90 days. After 90 days, the correspondent client must provide a new credit report

  • Lender (JMAC) will pull credit soft prior to CTC

Please note the specific requirements for the following loan programs:

Laguna: Correspondent clients must provide a CREDCO credit report. Indexer will contact correspondent prior to pulling new credit report to determine if a CREDCO credit report has been pulled.

Manhattan: Correspondent clients must provide final DO/DU to lender with approved/ineligible for loan amount only.  Seller will contact correspondent to make any changes.

For questions, please contact your Account Executive.