River Edge, NJ – December 21, 2011 – (RealEstateRama) — Real Estate Mortgage Network, Inc. (REMN), is introducing their customized Wholesale FHA 203(k) Rehabilitation Product to remove the complexity out of the process for independent retail lenders across the country. This new REMN Wholesale product dramatically improves the 203(k) experience for everyone involved by leveraging an in-house REMN team to manage the entire procedure. In challenging times, REMN Wholesale’s 203(k) initiative is just one more way in which the company is helping independent brokers find success.
While there are an overwhelming amount of distressed homes on the market, many lenders do not offer FHA 203(k) products because of the intricacies involved. REMN is removing the complexity of the 203(k) process by assigning a dedicated team to handle the loan’s post closing management, home inspection and other matters until the final draw is released. True to REMN’s reputation for customer service, the company will extend its same-day turnaround on new submissions to its Wholesale 203(k) products as well.
“Today’s market offers massive opportunities for 203(k) products, but they can be so complex that a lot of lenders just won’t offer them. REMN Wholesale has the experience with 203(k) products and the commitment to customer service to help independent brokers offer these loans in a way that simplifies the process for the home buyer and the loan originator,” stated Joe Amoroso, Director of National Wholesale Sales for REMN. “We recently had more than 1,000 people register for our last FHA 203(k) Webinar, further proof that the industry sees value in 203(k) products, but needs help getting them implemented. REMN has always offered industry leading support and our commitment to simplifying the 203(k) process is one more way we’re helping the independents on the ground compete.”
REMN Wholesale’s 203(k) offerings include both Streamlined 203(k) and Full Consultant 203(k) loans for use with 1-to-4 unit residential properties in more than 30 states. These products allow for maximum loan-to-value of 96.5 percent on new home purchases and 97.5 percent on refinances. In addition to great rates, mortgage brokers who rely on REMN for their 203(k) needs will be aligned with a leading independent lender known for its first class commitment to quality and customer service, something that has helped the company ensure satisfied, repeat customers, year after year.
REMN currently employs more than 600 people and is one of the largest independent, non-bank lenders in the country. In 2010 alone, REMN closed nearly $3 billion in home loans and continues to expand, even in today’s challenging housing climate. Mortgage brokers looking to find out more about REMN’s complete line of products can call 888-685-5260 or visit them online at http://www.remnwholesale.com.
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 Web site is located at www.remnwholesale.com.