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Equity Loans Approved as Fannie Mae First Lien Mortgage Servicer

FEB 25, 2013 12:47pm ET
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Fannie Mae has approved Equity Loans LLC as a servicer and seller of first-lien nonsecuritized Fannie loans on one-to-four family properties.

Starting immediately the Atlanta-based residential mortgage bank will be able to sell mortgages for delivery to the government-sponsored entity in the more than 30 states Equity Loans operates.

Fannie said Equity Loans meets the GSE’s financial condition requirements, business structure, technology and procedures.

Equity Loans services conventional, FHA, VA, jumbo, reverse mortgages and USDA loans. The firm is certified by the Community Mortgage Lenders of America, the Mortgage Bankers Association and the National Reverse Mortgage Lenders Association.

According to Equity Loans CEO, Kunjan Patel, Fannie’s approval complements the firm’s focus on further diversifying its loan portfolio.

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