Corridor Mortgage Group is founded in Maryland by Jerry and Michelle Rader. Through visionary leadership, Corridor successfully anticipates future challenges facing the mortgage banking profession.
Ron Mason, an industry veteran, joins the executive management team.
Corridor begins the conversion to mortgage banking by adding its first warehouse line.
Corridor obtains its license to expand into Delaware.
After FHA Direct Endorsement and VA Automatic underwriting test cases are completed, Corridor begins underwriting 99% of all originated loans in-house. Corridor gets licensed to originate in Virginia.
Corridor gets licensed to originate in Pennsylvania.
Additional warehouse lines are added to facilitate growth. Corridor gets licensed to originate in West Virginia.
Warehouse line capacities are increased and hedging begins. Strategies that allow best execution pricing are implemented so loan originators can maintain a competitive edge and minimize investor overlays. Assignment of trade and mandatory delivery loan sales begin. Corridor expands into the nation’s capital with a license to originate in Washington, DC.
Corridor achieves Home Valuation Code of Conduct (HVCC) compliance without utilizing a national appraisal company. Across the industry, net-worth requirements are expanded to levels exceeding amounts suggested by HUD, FDIC, FNMA, and FHLMC.
Executive Management Team is expanded with the addition of Tom Hollerbach as Sr. Vice President to manage the growth of production, and Sean McNulty to manage growing operations. Corridor Mortgage Group obtains its Seller/Servicer agreement with FHLMC. Baltimore Business Journal names Corridor as one of the largest mortgage lending firms in the Baltimore area for 2010.
Licenses expand into New Jersey. Baltimore Business Journal names Corridor as one of the largest mortgage lending firms in the Baltimore area for 2011.
Seller/Servicer agreements with FNMA and GNMA are received. Corridor gets licensed to originate in New York and North Carolina. In anticipation of growth in the western US market, Corridor also obtains a license to lend in Colorado. Baltimore Business Journal names Corridor as one of the largest mortgage lending firms in the Baltimore area for 2012.
Corridor expands further into the southern market with licenses in South Carolina, Georgia, and Florida.
Corridor gets licensed to originate in Tennessee.
Corridor continues its growth with new licenses in Alabama, Arizona, and Texas.