NFM Wholesale mortgage
Residential Programs

Conventional Loan Products

At National Future Mortgage Inc. we offer the full array of conventional conforming fixed rate and adjustable rate mortgages.  Please visit our ratesheets for Price information.

All of our products following FNMA underwriting guidelines as standard products.  National Future Mortgage Inc. will underwrite and close on DO/DU findings from any FNMA approved seller servicer for all conventional conforming products.  Please select a lender we will not accept findings run under Preliminary or DO General.  If you have general questions concerning underwriting guidelines of FNMA products, please visit their web site at www.efanniemae.com

National Future Mortgage Inc. is primarily a FNMA lender.  We are actively pursuing FHLMC loan programs however they are not available as of yet.

 

FHA Loan Products

National Future Mortgage Inc. is a full FHA loan correspondent since 2001 and we have been growing ever since.  We still believe that the best way to credit grade a file is to manually underwrite the credit to common sense guidelines that are acceptable to HUD.  We do not FICO score a deal we underwrite it.

If the loan qualifies under HUD's proscribed guides and definitions we will approve the loan - it is as simple as that.

If you have general questions concerning underwriting guidelines of FHA products, please visit their web site at www. hud.gov.

FHA Advisor/Education Program

FHA regulations permit a borrower to engage a broker who is NOT FHA approved to assist them in obtaining mortgage financing (24CFR 203.27(e))

 

  

 The broker may NOT provide any origination services as required by FHA for approved entities.

1) Specifically, the broker may NOT:

 

a) Take or fill out a loan application

 

b) Collect financial information (tax returns, bank statements) or other related documents as part of the origination process.

 

c) Initiate or order VOD, VOE, VOM's, flood certs or any legal documents

 

d) Initiate or order credit reports, appraisals, title, inspections

 

e) Provide disclosures or act as a coordinator between the parties

 

  

2) The broker must provide the borrower and NFM with the required contracts as described below (samples of approved contracts are provided below).

 

3) The broker and the borrower must enter into a contract agreement for services rendered directly. All fees payable to the broker must come directly from the borrower to the broker and it must be disclosed on the HUD-1 at closing. The fees allowed to be charged by the broker to the borrower must be compliant with HUD mortgagee letter 2008-17, section 8 (a) or (b) of RESPA and 24 CFR 3500.14(g) or fees similiar to those fees allowed with HECM Reverse Mortgage counseling services.

 

4) The borrower and broker must provide a certified statement attesting to the fact that the borrower was provided the loan programs from at least three (3) different FHA approved lenders and that the borrower selected National Future Mortgage Inc.

  

5) The broker must be properly licensed in the state and approved to do business with NFM

 

 

Please complete the following forms and submit them to NFM or your account rep at whslloan@nationalfuturemortgage.com .

  

The following documents are "samples" of approved contracts between borrower and broker. A copy of the certifications and borrower education fee contract must accompany each file delivered to HUD.

DOCUMENTS REQUIRED FOR EDUCATIONAL ASSISTANCE PROGRAM

Form 1 cert

Form 2 contract

FHA REG.

 

***National Future Mortgage Inc. does not participate or offer the following HUD approved programs:

***FHA Secure

***203K Refi and rehab or purchase and Rehab

***Closing cost assistance Programs (ex. Nehemia Programs)

***Mobile or Manufactured Home products

A few bullet point underwriting guidelines that we generally follow::

  • No mtg lates last 12 months (1X30 Mtg late 12-24 must be documented as outside the control of the borrower)
  • We will not entertain loans with multiple Bk's or foreclosures
  • All derog credit must be brought current at closing
  • Minimum 580 credit score to 85% LTV max
  • Minimum 620 credit score to 95% LTV cashout

 

National Future Mortgage Inc.

2 Eastwick Dr. Ste 300

Gibbsboro, NJ 08026

800-291-7900