Mid America Mortgage, Inc. will offer eNotes capabilities via its wholesale channel to enable non-delegated correspondents to operate more efficiently and competitively as they make the transition from mortgage broker to banker, the company announced. 

Through this program, third-party originators (TPOs) can deliver the convenience digital closings provide to their customers and enhance relationships with their existing real estate and title partners amidst an otherwise challenging operating environment. 

“With eNotes, our approved non-delegated correspondents can decrease turn times on their warehouse line to 48 hours or less, which ultimately saves them money in the form of reduced interest charges and enables them to turn over their warehouse lines far more frequently,” said Mid America owner and CEO Jeff Bode. 

To help non-delegated correspondents take advantage of this program, Mid America has established partnerships with private investors to provide lines of credit to qualified program participants, it said. Mid America’s TPO approval process captures most of the relevant financial statements and insurance exhibits requisite to the warehouse approval process, accelerating the warehouse approval timeline.

In other Mid-America news, the company also announced it has rebranded as Click n’ Close following the sale of the majority of its retail lending operations to Houston-based Legend Lending. Click n’ Close will retain retail operations related to its reverse mortgage and Native American lending business and focus on delivering innovative down payment assistance (DPA) and adjustable-rate mortgage (ARM) products through its third-party originator (TPO) channels.

NEXT Mortgage News logo

Stay in the know

Get the daily intel that impacts your customers, employees and market. 

Up NEXT eNewsletter — Industry news

Thank you!

Share This