Classroom Course

CFPB has published concern that some mortgage brokers are doing mini-correspondent lending as a way to avoid limits on compensation. They stated that they would want to see a plan where the broker reasonably expects to emerge from mini-correspondent lending as a full lender. The advantage being, that the 3% cap on compensation does not apply to correspondent lending.

This course is designed for a mortgage broker that is interested in growing his/her business into a full mortgage banking operation (without the servicing).

What it's about

During this course, the participants will apply the knowledge of his/her current mortgage business and build a plan that includes what they learn about Correspondent Lending to plan the growth of their company.

Class Schedule

New dates coming soon.

View Education Calendar

Program Details:

  • Review of the Niches
    • Broker
    • Mini Correspondent
    • Full Correspondent
    • Seller Servicer
  • Service Provider Management
  • Practical Email Compliance
  • Various State Licensing Issues
  • Examining the Correspondent Loan Flow, Duties and Personnel
    • MERS
    • Accounting
    • Pre-Close Review
    • Post Close Audit
    • Underwriting various loan types
      • In house or TPO
    • Warehousing
    • Funding
    • Shipping
    • Insuring
    • Post-Closing Quality Control
    • Trailing Documents
    • Lock Desk
    • Pricing Engine
    • Disclosure Desk/Compliance Personnel
    • IT
    • Hedge Operations
  • Managing your staff
  • Vendor Management

Preparing a budget projection (Workshop)

  • Review duties/personnel from Session Two
  • Determine maximum number of files per person
  • Salary value for each person

Preparing a 5-year Plan (Workshop)

  • Using the positions, salaries and expected production


By the end of this course, the participants will have begun building a 5 year budget plan, with the assistance of their instructors and peers that include all the additional duties and personnel required of a correspondent lender.

Learning Goals and Objectives:

Upon completion of the course, participants will be able to:

  • Articulate the duties and positions needed for a full correspondent operation
  • Plan the allocation of duties and new positions in their company
  • Begin preparing a 5 year budget plan that meets CFPB requirement for correspondent lenders

Target Audience:

  • Brokers
    • Brokers with non-owner MLOs
  • Current mini-correspondents who want a clear plan for growth

Course Location and Lodging Information

MicroTek - Dallas
5430 Lyndon B Johnson Freeway
Three Lincoln Centre Tower
Suite 300
Dallas, TX 75240

  • Click here for Site Information
  • Ask the hotel about shuttle availability to and from the training center, and be sure to ask for the MicroTek negotiated rate.
  • If you have any questions regarding the training center or other logistics, please contact MicroTek at (214) 615-0634.
  • Dress for the program is business casual.

Tuition & Registration

The course is $600 per person. Tuition includes all course materials. Upon successfully completing the course, students will earn an industry-recognized certificate of completion.