Branch Division of Real Estate Mortgage Network, Inc., Showing Explosive Momentum In 2011
River Edge, NJ – November 10, 2011 – (RealEstateRama) — Real Estate Mortgage Network, Inc. (REMN), is pleased to announce that members of its branch division, doing business as Menlo Park Funding (http://menloparkfunding.com), have seen tremendous growth despite all of the challenges facing the industry this year. As a part of REMN, one of the largest independent non-bank lenders in the US, the value Menlo Park Funding brings to independent brokers and bankers and the ways in which it can help them succeed in a challenging environment is substantial. Highlights of the Menlo Park Funding program include:
– A proven branch system with large capital and structured resources supported by entrepreneurial framework.
– The support of REMN Wholesale, a seller and servicer for both GNMA and FNMA loans, offering an industry leading assortment of banker and broker products, in addition to jumbo pricing from national banks with a direct lending channel.
– The ability for branch managers to have greater decision-making power in the overall lending process in a way that independent brokers simply cannot compete with. Currently REMN is retaining more than $100,000,000 per month on the secondary market and is willing to hold onto quality loans that may otherwise be rejected.
– The option for branch managers to utilize lenders other than REMN if they need a product the company is currently not offering.
– Access to REMN’s 203(k) Concierge Service, a unique initiative that manages the intricate 203(k) loan process to assure quality service during entire course of the loan.
– Secondary investor support through NYLX for pricing and product choice, as well as licensing support and LO follow up with SAFE requirements.
REMN’s reputation for quality and customer service, both for home buyers and employees alike, is built into Menlo Park Funding’s DNA. As a result, Menlo Park Funding branches receive a first-class internal support system that includes:
– An infrastructure based around an overarching commitment to speed and customer service. Menlo Park Funding branches receive same day underwriting on new loans and same day turn times on new loan submissions.
– Access to advanced training for loan originators of all levels, in both classroom settings and online through REMN University.
– Major level support in all operational areas, including accounting, human resources, help desk, IT, legal matters and the advice of senior level staff, many of whom have been in the industry for more than 20 years.
Menlo Park Funding’s History
REMN launched the pilot program for Menlo Park Funding in 2010 before officially rolling out the program on a larger scale in May of this year. By focusing on a small group of select locations through the pilot program, REMN was better able to test and refine the internal workings of Menlo Park Funding to ensure a smooth transition for new branches joining the organization. In the six months since Menlo Park Funding was launched, the company has opened 12 branches throughout the Northeast US, with many more contacting REMN to explore the opportunity.
The Menlo Park Funding’s Leadership Team
Sam Lamparello, CMB, the Director of Menlo Park Funding, has been guiding the division’s growth since the pilot program was launched. With more than 28 years of retail lending experience himself, Lamparello has seen the highs and lows of the industry and is keenly aware of ways which independent brokers and bankers can still see success during tough times. Also on Menlo Park Funding’s leadership team is Kim Zebrowski, Director of Operations, who has more than 18 of years experience in the industry in almost every capacity.
“Menlo Park Funding is a proven branch system for this industry and I’m thrilled with the success we’ve been having. For bankers and brokers who have done well in the past, but are finding themselves facing challenges in the current economy, Menlo Park Funding gives them the tools and backing needed to get to that next level,” commented Lamparello.
What others are saying about Menlo Park Funding:
Richard Messano was running an independent brokerage in central New Jersey prior to joining Menlo Park Funding in June of this year. For his team, becoming part of Menlo Park Funding helped take their service offerings to the next level.
“Joining Menlo Park Funding instantly stepped up our offerings, both in terms of products and how quickly we could move as a business. The diverse range of products we now offer, along with the advice of their leadership team, have truly helped us compete and grow within the region,” commented Messano.
The combination of Menlo Park Funding’s multi-state licensing and back office infrastructure has made it very appealing to some industry veterans who feel their previous wholesale partners were not the allies they needed them to be. Based in Warwick, RI, Norman Zolkos has nearly 20 years experience in lending that extends back his days as a loan originator. He has a proven track record of success in the mortgage world and realized that becoming a part of Menlo Park Funding would help him grow his business.
“The back office support system at Menlo Park Funding really enhances the broker’s experience across the board. At some companies it seems as if the underwriters are working against the loan originators, but at Menlo Park Funding, everyone is on the same team,” commented Zolkos. “We were independent for a long time, so joining Menlo Park Funding wasn’t a decision I took lightly. I did my research and realized that by joining Menlo Park Funding I wouldn’t lose ownership of my company, I’d be gaining some great partners.”
Menlo Park Funding is actively looking to work with independent brokers and bankers who share the company’s drive for success through commitments to customer service quality loans. Those interested in joining Menlo Park Funding can email Sam Lamparello directly at .
About Real Estate Mortgage Network, Inc.
Founded in 1989 and headquartered in River Edge, N.J., Real Estate Mortgage Network serves the lending needs of home buyers and home owners, real estate professionals and builders across the country. Our associates are passionate about fulfilling the American Dream, and realize they are the key to unlocking the mortgage process. REMN’s wholesale platform is the core to the high level of service Menlo Park Funding provides to its applicants. REMN’s wholesale web site is located at www.remnwholesale.com.