Rushmore Correspondent Lending Services, a division of Rushmore Loan Management Services LLC, purchases closed loans from approved, independently owned mortgage lenders, banks, and credit unions, on a delegated and non-delegated basis.

Qualified lenders may be eligible for an expanded approval option that permits for the sale of TPO (Wholesale), Fourth Party (Mini-Correspondent) and Fourth Party Correspondent (Traditional Correspondent) production as well.

Basic Eligibility Requirements:
  • Experienced management team & underwriting staff
  • Ability to fund own loans utilizing warehouse lines
  • Minimum $1 million net worth required for best efforts delivery and retail production
  • Minimum $3 million net worth required for mandatory delivery and TPO, Fourth Party & Fourth Party Correspondent production
  • Proof of compliance with all state, federal & regulatory requirements
  • HUD Neighborhood Watch total compare ratios below 150% for 1 & 2 yr. periods
Application Process:
  • Application, including submission of all required documentation, is completed online through Comergence
  • Completed application is reviewed, then findings are submitted to Rushmore Correspondent Counterparty Action Committee approval committee for evaluation
  • Approved correspondents will be invited to attend a new correspondent orientation