Correspondent Mortgage Banking

Through our correspondent mortgage solutions, Merchants Bank provides personalized training, direct contact with our underwriting team, different levels of processing, and mortgage loan servicing to help with your correspondent mortgage lending needs. As a correspondent mortgage banking provider since 1992, we believe in hands-on customer service, because talking one-on-one to a correspondent mortgage lending specialist is the best way to get your questions answered.

Free Training

Part of our service promise to you as your correspondent mortgage partner is the availability of free training for your mortgage lending staff. Our regular training and networking opportunities allow our mortgage correspondents to learn from us and each other.

Local Market Knowledge

With Merchants Bank locations in Minnesota and Wisconsin, we understand better than other providers the opportunities and challenges mortgage lenders face. Plus, our underwriters have a good working knowledge of rural area properties.

Strict No Solicitation Policy

We understand the value of your customer relationships, so we will not solicit your mortgage loan customers for any other banking services. Our commitment to helping you grow your business makes us different than other mortgage lending partners.

Loan Programs

We offer a full array of mortgage loan options through our correspondent mortgage program:

Conventional loan programs
Fannie Mae
Freddie Mac
Veterans Administration (VA) home loans
Rural Development loans
Manufactured home financing solutions

What Does Merchants Bank Offer?

We provide customizable services to meet your needs, including:

Delegated Underwriting
Non-Delegated Underwriting
Relationship Lending

Merchants Bank’s involvement in processing, underwriting and closing document preparation helps your bank offer a wide range of competitively priced mortgage loan products to fit your customer’s needs, with customizable service to meet yours.

A Partner with Financial Strength

All of the service provided by the correspondent mortgage program for Merchants Bank comes with the backing of the financial strength of our parent company, Merchants Financial Group, Inc.:

Based in Winona, MN, since 1875
We are a more than $2.7 billion community bank.
Community banking presence with offices in 19 communities in Minnesota and Wisconsin
We have a mortgage servicing portfolio over $2.6 billion and more than 20,000 mortgage loans.
We serve banks and credit unions in Minnesota, Wisconsin, Iowa, North Dakota, South Dakota and Nebraska.

Contact Julie to learn more about our correspondent mortgage program.

Julie Pearson

Account Executive

Phone: (507) 494-0540
Email: Email Julie

What Our Partners Say...

We value our long-standing relationship with Merchants Bank, built on trust, competitive products and customer care. Their responsive, experienced team delivers solutions quickly and ensures smooth servicing after closing; our mortgage customers love that their loan stays with Merchants Bank for the entire term.

Jeanie Coborn

Senior Vice President, Citizens National Bank

Merchants has been a trusted correspondent banking partner for 10 years. Their sensible underwriting, accessible team and smooth processes make our loan processors excited to work with them -- that speaks volumes.

Troy Friberg

Mortgage Lender, First National Bank North

First Independent Bank has had a strong correspondent relationship with Merchants Bank for over 25 years. We greatly value Merchants Bank, and we look forward to our continued partnership as community banks!

Carol Wixon

Senior Vice President, Consumer Lending Manager, and Senior Mortgage Lender, First Independent Bank

We’ve enjoyed a strong partnership with Merchants Bank for 13 years. Their tailored products, knowledgeable team and proactive communication keep us informed and supported. Together, we’ve helped make our mortgage customers’ dreams a reality.

Julie Hudek

Vice President, Star Bank

Working with Merchants has been outstanding. Their responsive, knowledgeable team and solution-focused underwriters make every step clear and efficient. They turn the correspondent process into a smooth, enjoyable experience. Highly recommend!

Kevin Welch

Vice President/Real Estate Lending, First Security Bank

With over a decade of partnership, we have had great success working with Merchants Bank. The communication we receive from Underwriting to Purchasing far exceeds their competitors. We also have peace of mind knowing that our customers are going to be well taken care of by Loan Servicing for the duration of their loan. We cannot say enough about how wonderful Merchants Bank is to work with!