Coral Mortgage Bankers Corp was established in 2003 as a mortgage broker in the states of New York and New Jersey. Since then we have continued to grow into a mortgage lender/banker with 27 state licenses.

In addition, we do not retain servicing any loans. All collection of payments and future changes to payments due to escrows or substantial down payments are handled by the Servicer. We insure quality in the mortgages that we underwrite and fund through branch locations since our regular training and implementation of company policies are part of our normal procedures. We have continued this practice while opening our doors to the Third Party Originated/Broker business. In these cases our own quality control measures are in place to insure company policies are upheld in reference to the standard relating to the type of mortgages that are acceptable to Coral Mortgage Bankers Corp. We also offer in-house training on any updated products, policies and procedures to help files flow through the process more effectively. Brokers are made well aware that every loan requires a social security check through Interthinx and a 4506-T. They are also notified that any loan can be pulled at anytime for a quality control audit.

Our products offered revolve around FHA, Fannie Mae and Freddie Mac. These loans make up our current pipeline and will continue to be products that we offer. Any loans that do not fall within these categories may be denied or shipped to investors directly for secondary underwriting, closing and funding. Coral Mortgage Bankers Corp. has discontinued most of its nontraditional programs that fall outside Fannie Mae and Freddie Mac guidelines. This includes all No-Doc, Negative Amortization, and Payment Option Arms that have the ability to ignore future payment obligations as market conditions change. In addition, we have made the decision not to offer products with introductory rates and prepayment penalties. We have increased the score requirements and made a reduction in the debt to income ratios on our offered products that have reduced income or higher loan to values.

We as a company have implemented processes and procedures that inform borrowers at all stages of the loan process. They are made well aware of the loan product they have applied for along with the costs involved in them. This includes a functional website and a customer toll-free number for questions and concerns.

By keeping to a higher standard of business we plan to be successful long into the future.