A conventional mortgage loan is basically any kind of loan that is not backed in full by the Veterans Administration or protected by the FHA (the Federal Housing Administration). The federal government regulates but does not insure these loans and the loans are funded by the private investment market. These loans typically have higher loan limits than FHA and VA loans and the loan guidelines tend to be stricter. The loans can be fixed rate or adjustable rate mortgages.

There are two broad categories of conventional loans: conforming and non-conforming. Conforming loans meet stipulations set forth by Fannie Mae and/or Freddie Mac, two very large mortgage trading companies. Stipulations include specific debt to income ratios, 2 year credit histories, credit lines, and stable employment. Fannie Mae and Freddie Mac buy and sell conforming loans. Nonconforming loans are those which don't meet Fannie Mae or Freddie Mac qualifications including high debt ratios, imperfect credit or high loan amounts.

Morris-Griffin Corporation has broad experience in providing nationwide comprehensive third party loan servicing, sub-servicing, special servicing, collections, and management services for financial institutions, corporations, governmental agencies, and other organizations for a variety of loan types including single-family residential, multi-family residential, commercial loans and consumer loans. Our excellent reputation for strong loss mitigation risk focus and responsive customer service has distinguished MGC as the servicer of choice.