The CORE Channel allows your bank to partner with Iowa Bankers Mortgage Corporation for secondary market financing. We have a history of providing banks in Iowa and surrounding states with a variety of secondary market mortgage products and competitive pricing for their customers.
With IBMC as your investor, we are able to offer interest rate protection to your bank while your staff is conducting the loan processing and closing functions. The underwriting function is performed in our office by our knowledgeable staff. And if you’re an approved Delegated bank, you have the option to cover the underwriting yourself. After you close and fund the loan, it will be submitted to IBMC for purchase.
Your bank will decide the pricing of the loan and the fee structure to be charged to the customer. The loan will be purchased based on the interest rate and price that was determined by your bank at the time the loan was locked.
Our experienced servicing staff will provide quality service to your customer after the loan is purchased from your bank.