Underwater & Overwhelmed?

If you have a Fannie Mae or Freddie Mac backed loan and have little to no equity you may still qualify to refinance at today’s low interest rates according to a recently announced initiative from the White House.  Is it possible that there is help on the horizon for the more than 10 million homeowners who are underwater on their mortgages?

The Home Affordable Refinance Program (HARP) was create in 2009 to assist almost five million homeowners refinance their loans and avoid foreclosure  – yet only 822,000 homeowners have benefited so far.  This begs the questions….If it didn’t help that many people in 2009 – why should it work now?

Today’s announcement by the White House detailed some major changes to the HARP.  Here’s a few:

  • No More Cap on Underwater Amount – any borrower, no matter how deep underwater, will be eligible for HARP.
  • Lowered Costs to Refi – Elimination of certain risk based fees Fannie Mae & Freddie Mac charged for refinancing and reductions in number of homeowners who need an appraisal, and reduced costs of title insurance should help to reduce cost associated with refinancing.
  • Insurance Coverage to be Transferred to New Loan – major mortgage insurers have agreed to automatically transfer coverage from old loans to new loans

The deadline for the HARP program has been extended to December 2013. The Obama Administration is optimistic that addressing these key issues will help many more homeowners to refinance and save as much a $2,500 a year. To view the formal press release issued by the Federal Housing Financing Agency on the HARP program click here.

To speak with a licensed mortgage loan officer and to find out if these major changes to HARP can help you refinance call 877-326-LOAN, visit us on the web at Inlanta.com or click here to find a branch near you.

 

Inlanta INSPIRE Award Winner Announced

 

Nancy Corcoran and Indhar Ramadhar
Nancy Corcoran and Indar Ramadhar

Congratualtions to this quarter’s Inlanta Mortgage INSPIRE award winner Nancy Corcoran! As pictured, Nancy takes possession of the traveling Inspire trophy. Nancy is a closing documents specialist in the Funding Department at Inlanta Mortgage’s corporate office in Brookfield, Wisconsin. She was nominated because of her dedication to the concept of nurturing teamwork and her unselfish commitment to helping others and seeing the job through to completion every day in a timely manner. Nancy was actually nominated by two different people.

Her dedication and hard work are much appreciated as are the efforts of the other nominees this quarter – Mia Viola, Mike Ehlinger, Roberta Wittemann, Robin Sitarz, Jeremy Page and Julie Murray. It was a very difficult decision this quarter with so many worthy nominations and we appreciate those of you who submitted nominations for taking the time and thought to do so. Congratulations Nancy!

Inlanta Mortgage Named a Top 25 Tech Savvy Lender

Top 25 Tech Savvy Lender

Each year, Mortgage Technology recognizes mortgage lenders that promote efficient and cost-effective lending practices with its Mortgage Technology Awards. For the second year in a row Inlanta Mortgage has made the list of top 25 tech savvy companies in the mortgage industry.

In a business that relies heavily on personal relationships we pride ourselves on using technology to better communicate with customers, partners, and employees. Our commitment to improving the loan process end-to-end remains a top priority and we continue to evaluate and seek out the best in technology to achieve that goal. We appreciate being recognized for this effort, and say thank you to everyone on our IT team, our tech friendly senior management team, and all of our loan officers who embrace and use our technology each and every day. We are very proud of to make the list two years running.

To view the September 2011 issue of Mortgage Technology magazine and the Top 25 Tech Savvy Lenders click here.

 

 

Inlanta Mortgage Expands to Kansas City Market

Inlanta Mortgage is proud to announce Mid America Mortgage Services, of Overland Park, Kan., has merged its operations with Inlanta Mortgage. The merger brings Kevin & Cindy Laffey to Inlanta with more than 20 years of experience, along with a highly experienced team of mortgage professionals. Laffey and his team have ranked in the top of the Business Journal’s “Top 25” in Kansas City.

The mortgage industry has changed significantly in past three years and financing availability is critical to the recovery of the market. “A lender, like Inlanta, with access to multiple correspondent banker relationships, both regionally and nationally, provides us with the best options and best execution for getting the transactions done,” Laffey said. Mortgage financing has become the most critical component to the home purchase process today. Inlanta’s platform and experienced team, offers the tools and the availability of products necessary to ensure a smooth transaction in the future.

The partnership with Inlanta made sense for Laffey and his group to be able to offer clients the best experience when it comes to their home buying needs. “Inlanta gives us higher quality products, along with better control over the delivery and services for our clients,” Laffey said.

“As mortgage planners, it is our job to educate our clients on how to use their mortgage as a financial tool to help them realize their long and short term financial goals,” Laffey said. “Through our strong referral partnerships we are able to offer our clients a custom tailored mortgage plan for one of the largest financial decisions they will make.”

Inlanta Mortgage to Carry LendRIGHT Mortgage Industry Seal of Excellence

Inlanta Mortgage announced today that it carries the new LendRIGHT™ seal of excellence for the mortgage industry.

The LendRIGHTTM program is designed to allow consumers to easily recognize lenders who are committed to providing a premium level of service, expertise and ethics in their community. The LendRIGHTTM mark will indicate to consumers that participating Members of the Lenders One™ mortgage cooperative have pledged to pursue operational integrity and customer service excellence.

“We are excited to offer the LendRIGHTTM guarantee,” Senior Vice President Nicholas DelTorto said. “The LendRIGHTTM seal of approval confirms that Inlanta Mortgage is committed to providing the highest quality mortgage services to our customers.”

Before receiving the LendRIGHTTM designation, Inlanta made a pledge to maintain their pursuit of excellence in lending by fulfilling the following promises: Relationships – Working with you to help you identify the right loan. Information – Sharing what we know to help you understand your options.Guidance – Providing advice to help you make good choices. Honesty – Communicating and responding to your needs in an open manner, and working to take care of the details to help you close on time. Trust – working to take care of the details to help you close on time.

For more information about the LendRIGHT program, please visit the national website (www.lendright.com) designed to help consumers find a local LendRIGHT lender and provide resources to assist them with learning more about the mortgage process.

Jim Snyder Ranked Among Nation’s Top Originators

 

Inlanta Mortgage congratulates its Pewaukee Branch Manager, Jim Snyder, for his ranking as a Scotsman Guide 2010 Top Originator. Jim was ranked #106 in Loans Closed and #161 in Total Volume.

Scotsman Guide, the leading resource for mortgage originators, released its second annual Top Originators rankings on April 1st. The list, which ranks the nation’s top mortgage brokers, originators and bankers, appears in Scotsman Guide‘s April 2011 residential edition, with additional rankings online at scotsmanguide.com/Top2010.

Jim was ranked among entries from nearly 700 mortgage professionals across the country. To be eligible for initial consideration in Scotsman Guide’s Top Originators rankings, originators must have had at least $30 million in loan volume or 100 closed home loans for the 2010 calendar year. Only loans and volume that originators closed personally could be considered. After receiving submissions,Scotsman Guide required written verification of top entrants’ volume from a certified public accountant, the chief financial officer at the originator’s company or a similar source.

Inlanta Mortgage Selects Secondary Interactive

Secondary Interactive (SI), the award-winning secondary marketing risk management, best execution and loan allocation platform, announced today that Brookfield, Wis.-based Inlanta Mortgage has engaged SI as its secondary marketing service provider.

Inlanta considered several risk management and analytics platforms, conducting thorough demonstrations of each. Inlanta also tapped into its LendersOne network to consult with other mortgage banks and learn more about their experiences with other service providers. Inlanta ultimately selected Secondary Interactive citing SI’s automated, Web-based platform, comprehensive best execution tools and customer service focus as the primary drivers for its decision.

“The advantage of Secondary Interactive is simple – it’s completely transparent and totally automated,” said Jean Badciong, SVP/COO of Inlanta. “The Web-based capabilities allow management and staff to pull reports, run a shock analysis at any point in time – without relying on a hedge company to send it to us. Additionally, we have really enjoyed the relationship with Secondary Interactive, and the service has been excellent. We have direct access to the owners as well as a dedicated analyst, who is knowledgeable and very responsive. Secondary Interactive has the technology, service and culture, making them a great partner for Inlanta.”

Secondary Interactive provides a comprehensive spectrum of secondary marketing services that automate the process seamlessly, improve workflow and revenue and enhance investor relationships while neutralizing risk. Secondary Interactive’s platform is a paradigm shift from traditional processes, providing lenders with a new way of doing business and revolutionizing secondary marketing operations for its clients. As a result of the company’s joint venture with Optimal Blue, Secondary Interactive is the only provider to offer mortgage bankers a complete outsourced secondary marketing solution from risk management through loan commitments using real-time, 99.99 percent accurate data.

Don Brown, co-President of Secondary Interactive said, “With 28 branches in 13 states, Inlanta Mortgage is a highly successful company distinguished by its superior customer service and high level of ethics. As a fast growing company, they needed a partner that would allow them to operate efficiently and profitably. We completely share their customer-centric philosophy and being able to automate their processes enables Inlanta to focus on their core business, providing greater time and resources to their customers. We are proud to welcome Inlanta to our growing family of mortgage banks”

The Mortgage Company, LLC Joins Inlanta Mortgage

Inlanta Mortgage is pleased to announce the opening of its newest partner branch, which will be serving Wauwatosa and the surrounding areas. Formally known as The Mortgage Company, LLC, Branch Manager Adam Deputy brings more than 13 years of experience, plus his team of 13 employees, to an area he has been living in for his whole life.

Deputy gained knowledge of the mortgage industry as an owner, licensed originator and manager. This long term success came from maintaining a high customer service and satisfaction standard, along with quality services. His experience in the mortgage industry and his commitment to customer service, along with the new Inlanta partnership, gives Deputy and his team the confidence that his branch will have success in the future.

Deputy said, “I am excited about our new partnership with Inlanta Mortgage. Inlanta has an eye on the long term success of our industry and they share our passion for providing an exceptional customer experience and the highest quality services.” To contact the Wauwatosa branch, call 262-437-0707 to discuss your current mortgage and financial needs.

Inlanta Mortgage Adds Underwriter, Project Manager

Inlanta Mortgage has added a new Underwriter, John Malinger, to its team to help with the increased volume and rate lock activity it has seen in the past months. Malinger was previously employed as an Underwriter with Waterstone Mortgage Corporation and Universal Mortgage. He has more than five years experience and specializes in government loans. He’s been in the mortgage industry for over 10 years and has knowledge in everything from processing to origination to insuring.

Jean Piacentine also joined the Inlanta Team as an IT Project Manager. Piacentine was recently with Universal Mortgage Corporation where she worked as their Mortgage Business Systems Analyst for the last six years. She was primarily responsible for administering to the software applications used for originating, processing, and closing mortgage loans effectively. At Inlanta, Piacentine will responsible for analyzing all systems used in the company and manage all projects assigned with the end goal of having improved system functionality and streamlined processes.

In addition, Inlanta Mortgage has added Loan Originators; James Finan and Racquel Farber, Processor; Jacqueline Burkoth and Administrative employees; Kimberly Lonetree and Jessica Sears to its’ existing offices.

Inlanta Adds VP of Technology and Marketing

Inlanta Mortgage is pleased to announce the promotion of Chris Knowlton to Vice
President of Technology and Marketing. Chris has been with Inlanta Mortgage
since June of 1997. Chris will continue to direct and manage the computer and
information technology side along with overseeing and developing marketing
plans and internet marketing use.