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Plaza News + Updates

Plaza Correspondent

Recent Posts

New 4506-C Requirement

Posted by Plaza Correspondent on January 8, 2021

On March 1, 2021, the IRS will be updating their form requirement from 4506-T to a 4506-C when obtaining transcripts through a vendor. However, the IRS has made the new form 4506-C available now. The new form will have an impact on Post Closing Quality Control Reviews, therefore we recommend that clients begin using the 4506-C as soon as possible.

All loans purchased by Plaza on or after February 1, 2021 must have closed using the new 4506-C. Prior to February 1, Plaza will accept both the 4506-T or the 4506-C form.

To avoid delays in loan purchasing, please work with your document vendor and LOS provider to ensure the new form is included in the closing packages.

Read more about this change in the 12.16.20 Fannie Mae Selling Guide announcement or reach out to your Plaza Account Executive for any questions

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Topics: National Correspondent News, Mini-Correspondent News, National Correspondent Program Updates, Mini-Correspondent Program Updates

Certified Case Study: Network Capital Funding

Posted by Plaza Correspondent on November 18, 2020

The Certified Loan Program from Plaza offers protection from direct loss from a repurchase demand that is tied to fraud or manufacturing defects – even if it’s COVID-related.

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Topics: National Correspondent News, Correspondent Certified Loan Program, Client Case Studies

"Scratch and Dent" or Certified?

Posted by Plaza Correspondent on November 10, 2020

At Plaza Home Mortgage® we have the programs and resources you need to feel confident when taking on a fluctuating market. Our Certified Loan Program helps reduce the risk of repurchase due to loan manufacturing defects and fraud – even if it’s COVID-related. And the best part – all Plaza Correspondents automatically get the added protection of the Certified Loan Program, at no additional upfront cost.

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Topics: National Correspondent News, Plaza Events

Correspondent Renovation Lending Made Easy

Posted by Plaza Correspondent on October 2, 2020

Today’s housing market is dominated by existing home sales, with over 5.3 million existing homes sold in 2019 and at average age of 30 years old. Because of this, renovation lending is perhaps more important to your business than ever before. Plaza Home Mortgage® offers you the resources you need to make getting into this market easy and stress-free. Our dedicated renovation lending division is here to help you from start to finish, and reviews each loan to ensure they’re done right the first time.

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Topics: National Correspondent News, Government Loans, Renovation Loans

Certified Loan Program now offers COVID-19 protection

Posted by Plaza Correspondent on October 1, 2020

COVID-19 Protection with Certified

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Topics: National Correspondent News

Connect with Plaza through LINQ

Posted by Plaza Correspondent on September 28, 2020

Now there’s an even easier way to connect with Plaza – we’re thrilled announce the official launch of LINQ, our new loan acquisition system! LINQ is user-friendly, fast on document uploads and you’ll immediately receive your confirmation once the loan is locked in, helping in the reduction of overall processing time. Accelerate your loan purchases and easily manage your pipeline while expanding your portfolio all in one place. Not currently working with us? Let’s link up – apply and become an approved correspondent today.

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Topics: National Correspondent News, eClosing and Digital Lending Tools

Check us out at the California MBA Western Secondary Market Conference

Posted by Plaza Correspondent on September 21, 2020

Plaza Home Mortgage® is excited to be attending the upcoming California MBA Western Secondary Market Conference this week!

If you are too, mark your calendars for September 24 to hear Plaza’s very own COO and CFO, Michael Fontaine, as he joins the panel during session 5, How Has COVID-19 Changed the Way We Do Business, to discuss how the pandemic has transformed business today and beyond.

Plus, stick around after the session to tune in with our SVP of National Correspondent Sales, Salpi Meyer, as she joins the mPower Leadership Panel during session 6, where she along with other successful female industry leaders will share their journey in leading teams, and how to make a positive impact in the workplace.

And don’t forget to check out Plaza’s virtual booth in between sessions to discover more on our available program offerings to help simplify future transactions

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Topics: National Correspondent News, Plaza Events

National Correspondent: Flexible Delivery Methods

Posted by Plaza Correspondent on September 10, 2020

With a variety of delivery methods to choose from, Plaza gives you the needed flexibility to stay ahead of the game.

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Topics: National Correspondent News, Plaza at a Glance, National Correspondent Program Updates

Case Study: Correspondent Avoids $110K Indemnification

Posted by Plaza Correspondent on September 10, 2020

See how Loanpal®, a national mortgage bank, successfully mitigated a $110K indemnification on a defaulted loan thanks to Plaza’s Certified Loan Program. The majority of the loss, over $87,000, was covered by the Certified Loan Program – with no upfront fee.

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Topics: National Correspondent News, Correspondent Certified Loan Program, Client Case Studies