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.