Get the answers here.
How long does the approval process take?
With a thorough, completed application, we can work very quickly in issuing an approval. The background check usually takes a week to turn-around and if there are no issues, we can issue an approval shortly thereafter. If there are questions or documentation is missing, the process should take no longer than 4 weeks, unless we do not receive timely responses from the applicant.
Also, please note that during the application process, it may be best to simultaneously apply for a correspondent approval with your end investors to expedite that process. For existing correspondents, we will just ask for documentation of your investor approvals.
How does a warehouse benefit me?
A few benefits include:
- Increase control of your lending process which enables you to deliver on your customer experience expectations.
- Potential for better pricing selling loans as a correspondent.
- Possible volume incentives
- Operational efficiencies
- Compliance efficiencies
- Your #1 Goal is your customer’s experience. A warehouse allows you to set and deliver upon expectations that you put in place. Never have to be at the mercy of a large wholesaler again!
What sort of support staff do I need to manage a warehouse efficiently?
There are many options for managing your in house. One is to dedicate an internal staff and another is to contract with a third party fulfillment company. Please consult one of our team members about options and the best plan for your company.
What steps do I need to follow in order to become an emerging banker with GBC Funding?
Do you have any net worth requirements?
We weigh our approval more heavily on the credibility and reputation of the customer and their ability to effectively use a warehouse facility. For our Mortgage Banker program, the net worth requirement is $500,000. Our Emerging Banker program offers the flexibility small emerging bankers need to grow their business.
What strengths does GBC Funding have to offer?
- GBC Funding's staff includes experienced professionals, a great sales team and a dedicated support staff, ensuring a seamless loan funding process.
- Program Highlights:
- Flexible Pricing
- Accepting both delegated and investor underwriting approvals
- We fund up to 100% of the loan – no haircut
- There are no non-usage fees
- On-site training
- Experienced staff including a dedicated customer relationship team
- GBC is a warehouse bank not affiliated with any investor or correspondent program
- We are committed to total customer satisfaction – there are no automated phone systems but real person contact with every phone call
- Our advanced technology enhances wire and document tracking by offering an automated program, free of charge, which allows you to follow-up on your loan within seconds!
- It is our goal to ensure a superb customer relationship by offering and working with good character, integrity and honesty – qualities we strongly uphold.
What are the costs if loans don't go through or rescind?
As long as funds are returned within 24 hours of funding, there are no fees or interest charges assessed.
Still have questions?
Our team of experienced mortgage professionals are ready to help!