"Scratch and Dent" or Certified?

The Certified Loan Program from Plaza Home Mortgage® helps mitigate the financial risk and operational burden that can arise from loan manufacturing defects – which may ultimately lead to repurchase demands. And the best part – all Plaza correspondents automatically get the added protection of the Certified Loan Program, at no additional upfront cost.

Many correspondents found that rather than bidding loans out to “scratch and dent” companies, they were usually far better off using Plaza’s Certified Loan Program.

Plaza’s Certified Loan Program Covers the Following Loan Defects

  • Underwriting
  • Appraisal
  • Guideline Violations
  • Compliance Errors
  • Miscalculation of Income
  • Data Integrity
  • Fraud/Misrepresentation

Now Offering COVID-19 Protection

In this uncertain environment, there is a greater likelihood of loan reviews and repurchase demands due to the borrower’s job loss or other financial impacts of the pandemic. Plaza’s Certified Loan Program can protect you from direct loss from a repurchase demand that is tied to fraud or manufacturing defects – even if it’s COVID-related.

Program Benefits

  • Helps reduce losses from repurchase demands
  • Helps protect net-worth
  • Minimal loan loss reserve on loans sold to Plaza
  • Can increase profitability, so you sleep better at night!

Want to see what our Certified Loan Program can do for you? Tune into a free webinar recording we did back in August to learn more.

Regardless of where the market stands, our program can provide the insurance you deserve to protect your business. Allow us to be there for you through the thick and thin – speak with your Plaza Account Executive to learn more or sign up to be an approved correspondent today.

Become a Correspondent