CorrAdvantage is a partnership between Freddie Mac and BB&T, one of the largest financial services holding companies in the United States. Launched in 2007, CorrAdvantage was created to provide a competitive alternative to correspondent outlets. Since that time, the program has sold more than $50 billion in volume and has grown to serve the needs of customers of all types and sizes.
- Operational bifurcation. Seller is responsible for selling representations and warranties, and BB&T is responsible for the servicing reps & warrants.
- Streamlined loan delivery. Electronic loan file images and the Freddie Mac Selling System® simplify loan delivery.
- Tri-Party Relationship. Loans sold through CorrAdvantage count toward minimum required Freddie Mac production.
- Minimal credit overlays. You'll have more certainty in what you are able to sell and a wide array of mortgage products as you can take advantage of BB&T's contract waivers.
- Enhanced pricing. Better pricing for maintaining the selling reps and warranties on the loans you sell. Offering both mandatory and best efforts delivery options.
- Streamlined pre-funding review. Eliminates credit stops, resulting in significantly improved funding times.
- No explicit minimum dollar delivery volume to participate. Able to support all sizes of customers.
- Comprehensive support. Work with a dedicated team at BB&T for your loan production.
- Award-winning servicing platform. Winner of multiple J.D. Power awards.
Which Execution is Best for You?
Contact us to find the right Servicing-Released execution for your business.
If you're interested in participating in CorrAdvantage, you must meet certain criteria.
For information, contact your Freddie Mac or BB&T representative.