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Channel Options

Flanagan State Bank's Available Channels for Brokers, Banks, Credit Unions, & Mortgage Bankers

FSB offers several ways to conduct business with our team.  Please see all the different options we below and choose which best suits your business.

Need to discuss channel options?  Please contact your assigned Account Executive.



  • FSB will underwrite

  • Client will prepare their own Closing Docs 

  • Client will send file to FSB for purchase

Bailee Letter

Delegated Corr

  • Client prepares own docs

  • Client  underwrites the file

  • Client sends the loan to FSB for purchase

Delegated Procedures
Credit Package Stacking Order
Closing Package Stacking Order


For banks or credit unions only.  This is an alternative to the Assisted Correspondent 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 with work with the App+5 client to provide the program information and assistance with disclosures and submission of the file.

Program Guide
LO Needs List
Joint Borrower Authorization
Loan Options Worksheet
Appraisal Request Form
Title Request Form

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

  • $999 Underwriting Fee

  • Easy sign up process

  • Access to the Mortgage Support Team

  • Doc prep for initial disclosures

Correspondent Delivery Instructions:

*Closing packages will be sent to the correspondent client.  This is to be uploaded to the file in Mortgagebot.

*The original Note, Allonge, & Bailee Letter(if applicable) to be overnighted to FSB.

Flanagan State Bank

Attn: Correspondent Department

333 Chicago Rd, PO Box 302

Paw Paw, IL 61353

Channel Workflows

Government Sponsorship


One other unique part of the FSB is after the sale. If your customer comes back to FSB to refinance, purchase a second home or a new home, they will be referred back to you. Your customer is your customer. We guarantee this in our contracts!  FSB has begun servicing conventional loans. This will help you avoid other lenders soliciting your customers.

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