UPDATES FROM SERVION MORTGAGE

A few things you should know going into the new year

Updated Correspondent Portfolio Agreement Available

Servion Mortgage has introduced a new, updated Correspondent Portfolio Agreement that is fillable and includes more details. We encourage you to use this form to minimize the ongoing exchanges on a portfolio loan as you are finalizing all the details.

2023 Brings Large Increase In Credit Report Fees

The National Consumer Reporting Association (NCRA) has announced a significant price increase for mortgage credit reports in the new year ranging from 10 percent to 400 percent. Be sure to check with your credit vendor on their 2023 increases to ensure you are disclosing the updated and correct fees to your borrowers.

Servion Mortgage Webinars

Servion Mortgage has started offering monthly webinars to help you gain deeper product and program knowledge so that you can be the best resource to your borrowers.

The latest webinar was in December and covered buydowns. Specifically, Rachel Mengelkoch, Servion’s Training and Product Development Manager, shared how 3-2-1 and 2-1 buydowns work. She provided the steps required to complete a buydown on a Fannie Mae loan.

To view all upcoming educational events and videos, simply click here.