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Channel Options

Broker/Wholesale Channel

  • For Licensed Brokers & Banks that are not HUD Approved to do FHA Loans
  • FSB Contract accommodates the need for Correspondent customers to broker FHA Loans
  • Offers a max of 2.75% Lender Paid Compensation 
  • $914 Underwriting Fee
  • Easy sign up process
  • Access to Mortgage Support Team
  • Doc Prep for Initial Disclosures

Broker Application Packet

Correspondent Channel


  • Standard Corr Set Up
  • FSB will do the underwriting
  • FSB will prepare Closing Docs
  • Client will send loan to FSB for purchase

Senior Correspondent

  • FSB will do the underwriting
  • Client will prepare own Closing Docs
  • Client will send file to FSB for purchase

Correspondent Approval Package

Delegated Correspondent

  • Client completes the underwriting of the loan
  • Client prepares own Closing Docs
  • Client to send loan to FSB for purchase

Delegated Correspondent 

Approval Package


This channel is for Banks or Credit Unions only. This is an alternative to the Assisted Corr Channel that was previously offered, if the bank or credit union would like to still earn a fee, but not be as involved with the loan process. 

  • FSB will assign one of our Loan Officers to the client
  • the FSB LO will work with the App+5 LO to provide the program information, assistance with submitting the file, & disclosures as needed
  • The loan will close in Flanagan's name
  • The FSB LO will handle all processing of the file & working with borrower(s) and App+5 LO to complete the loan process
  • All programs are available to an App+5 client (USDA, FHA, VA, & Conventional) without the need to sign up with any of the agencies

App+5 Approval Package

Documents Per Channel


Allonge-word format, ready to customize

Bailee Letter-word format, ready to customize

CD Request Form-if FSB prepares closing docs

Closing Request Form

Correspondent Pricing Policy

Overnight Original Documents from Closing to:

Flanagan State Bank

Attn: Correspondent Department

333 Chicago Road, PO Box 302

Paw Paw, IL 61353

Closing Package for Correspondent Customers is sent to the Correspondent. Closing Package is to be uploaded to our file within Mortgagebot & the original Note, Allonge, & Bailee Letter (if used) are to be overnight to FSB at the above address.