With Capital Markets Cooperative (CMC) as the servicer, your customer receives the best of both worlds – access to a home loan from a local institution they trust and servicing from experienced mortgage professionals.
Founded in 2003, Capital Markets Cooperative (CMC) has built a full suite of products and services that deliver greater profitability to its mortgage banking clients. CMC Funding, CMC's mortgage servicing rights (MSR) acquisition division, is partnering with the MPF Program to purchase MSRs from participating financial institutions (PFIs) under the MPF Traditional products.* CMC loans are serviced by its sister company, Specialized Loan Servicing (SLS). SLS services over $390,000 loans with an unpaid principal balance of $55 billion.
In 2016, CMC and CMC Funding were acquired by Computershare Limited (ASX:CPU). Founded in 1978, Computershare is a global market leader in several financial sectors, including mortgage servicing. Computershare is represented in all major financial markets and has over 16,000 employees worldwide. For more information, visit Capital Markets Cooperative.
*See the CMC Whole Loan Servicing Transfer Manual
- Execute a MPF-specific Corporate Resolution (for NEW PFIs only);
- Gather supporting documentation to complete and submit your application.
Set-Up Process After Application Approval
- Confirm any 3rd party vendor relationships are finalized (if applicable)
- Set up MPF Products and Pricing Engines to execute your lending strategy. MPF products and pricing are available through five providers:
- Compass Analytics
- Ellie Mae®
- Optimal Blue
- What you will need:
- Underwriting can be performed manually or by utilizing AUS findings from DU® or LPA.
- Review the loan process and let your implementation specialist know if you are unsure of any step.
- Log in and familiarize yourself with eMPF.
A dedicated team of trainers is available to prepare you for launch. Customized training will be scheduled with your institution after application approval and when you have loans ready to sell. Our training team will provide you with a comprehensive product review. We recommend several individuals participate in the training sessions, including senior lender, mortgage department. manager, loan officers, underwriters and/or quality control staff, processors/mortgage support staff, and post-close staff.
Selling into the MPF Program
Once you’ve completed your necessary applications, set up systems and completed training, you are now ready to lock and start funding your first loans. With each loan, you will need to prepare a few items for post-closing and ongoing quality control. Don’t worry – we have resources to help walk you through each step. Get ready to enjoy your new opportunities with MPF!
Custody Package Delivery Instructions Quality Control Requirements