AMB is committed to acquiring business relationships with the lenders that you need to be a success. We understand a well established selection of lenders with diversified loan products is critical to success of our associates. We are committed to making sure that loans get approved and closed in the shortest amount of time possible. AMB is approved with the nation’s leading lenders to insure we can provide the product versatility needed to help originate Conventional, FHA, VA, RCD, Reverse and Commercial mortgages.
At one time AMB’s prior management team frowned upon getting involved with new lenders. However, as the available database of lenders eroded as the economy weakened, loan officers were left perplexed by where to fulfill their needs. In the past year since Mr. Collins took the helm of AMB there has been a resurgence in the company’s efforts to build its wholesale lender platform. Since 2009 AMB’s Operations Department has gotten about 40 lender packages submitted and all but a couple have been approved. The primary reasons why lenders rejected AMB were the number of MARI hits and AMB’s relatively high FHA compare ratio.
MARI is the brainchild of LexisNexis and it is short for Mortgage Asset Research Institute. The purpose of MARI is to limit mortgage fraud by allowing subscribers to obtain research from the MARI database. The problem with MARI is that anyone can report anything about you. The items related to AMB vary from the obscure to the revealing and from fiction to fact. While AMB has prepared substantial letters of explanation for the records in MARI some lenders go by merely the number of entries and not by their substance or response.
As for the FHA compare ratio, up until 2910 AMB has nearly 100 branches with FHA lending authority. Over half of them did not have a default within the past two years. The remaining branches have contributed defaults in such an overwhelming number that AMB’s compare ratio is about 210% higher than the “average” mortgage company. Unlike MARI, AMB is taking a positive and proactive response to defaults. With our 2010 FHA renewal, the number of licensed FHA offices were reduced to one per state. This will enable AMB to more easily track our performance is respect to defaults. Further, our newly implemented FHA case number assignment system was designed to help us pinpoint those associates that are creating ratio issues for us.
Please click on AMB’s Lender List to see AMB’s current working approved lenders. AMB only published those lenders that we are currently using with regularity along with our newer lenders. Call AMB’s Operations Department if you have a question about a lender not on the list.
Bob Shellenberger Interview, Crescent Mortgage
Jenny Bailey Interview, Bank of America
Lender Forms
Contact AMB’s Operations Department at 813-289-0154 if you need help with a lender form or in obtaining web site access.
FAQ’s about Working with AMB’s Lenders
Can I Continue Working with My Current Lenders and Account Executives?
AMB believes in the value of loyalty and respects the relationships that you have already established. If you are currently working with an account executive from any of our approved lenders, you are invited to ask the lender about you continuing to use your rep. You may work with any Account Executive as long as it is OK with the investor.
If you are working with an account executive from a lender that we are not approved with, give him or her the main office contact information and we will begin to work diligently to get AMB approved with them. But as for lenders, we are not interested in carrying 300 lenders just to say that we have them. What is more important is having the lenders that you need. AMB works hard to assure you have access to America’s best investors.
How do I get set up with lender underwriting systems?
Every lender has a different procedure for this. Most are trying to make underwriting available directly on their websites that creates a ton of work in creating log-in codes. In most cases, there is nothing that has to be done other than we create an account for you to use to access online underwriting.
How do I Request to Add a New Lender?
Please call us to see if there is already a lender available that can meet your needs. If you still want to add a lender, send us the contact information for the AE you have spoken to.
How do I Obtain AMB’s Most Op-To-Date Lender List?
AMB is constantly updating the branch resource section of our web site. The most current version of our lender list will always be listed here (see the link above).
I’m a New Manager – do I have to Wait for My License to Start Using AMB ’s Lenders?
All 1003’s have addresses of key branches. For example, all FL and GA applications have the main office in Tampa as the office of record. Therefore, you can start using our lenders as soon as IT gets you an account to access them.
How do I obtain an AMB affiliation letter?
You probably won’t need such a letter given that all loan applications are branded to a key office. However, if you do simply call us and let us know what you need.