Business, Software

SmartBuy DPA Now Available to The Mortgage Collaborative’s Lender Members

ADDISON, Texas -- Click n' Close, a multi-state mortgage lender, today announced its Preferred Partner status with The Mortgage Collaborative (TMC), a leader in mortgage cooperatives dedicated to providing its members with cutting-edge technology and expert mortgage banking resources.

As a correspondent investor, Click n' Close will offer TMC's Lender Members access to SmartBuy™, a proprietary suite of down payment assistance (DPA) loan programs designed to give homebuyers an advantage in today's heightened mortgage interest rate environment. This national program combines a USDA or FHA-insured 30-year first mortgage with either a second lien that is fully forgivable after five years or a 10-year repayable second lien amortized up to 30 years. The second lien funds available through both options meet agency minimum required investment guidelines and can be used by the borrower towards their down payment, closing costs, or to buy down the interest rate. SmartBuy also has no income or first-time homebuyer restrictions.

"TMC is one of the preeminent cooperatives serving mortgage lenders in today's market, and we are delighted to be part of its Preferred Partner network," said Click n' Close founder and CEO Jeff Bode. "SmartBuy is a competitive alternative to managing the myriad of state and local programs. SmartBuy has helped more than 6,000 borrowers become homeowners by extending more than $1.5 billion in DPA-related financing. We're looking forward to expanding both these numbers through our partnership with TMC."

"TMC is thrilled to have Click n' Close as a Preferred Partner serving the growing needs of today's mortgage lenders through its SmartBuy product suite," said TMC President and COO Melissa Langdale. "This partnership is a testament to TMC's mission of providing its members with access to the most innovative and reliable solutions in the industry."

About The Mortgage Collaborative

Based in Austin, Texas, The Mortgage Collaborative was founded in 2013 by four notable industry leaders and is the nation's largest independent mortgage cooperative network. TMC is singularly focused on creating an environment of collaboration and innovation for small to mid-size mortgage lenders across the country to reduce cost, increase profitability, and better serve the dynamic and changing consumer base in America. For more information, visit http://www.mortgagecollaborative.com/

About Click n' Close, Inc.

Click n' Close, Inc., formerly known as Mid America Mortgage, is a multi-state mortgage lender serving consumers and mortgage originators through its wholesale and correspondent channels and is also the nation's leading provider of Section 184 home loans for Native Americans. In operation since 1940, Click n' Close has thrived by retaining its entrepreneurial spirit and leading the market in innovation, including its adoption of eClosings and eNotes.

Combining this culture of innovation with a risk management mindset enables Click n' Close to deliver new products to market that address the challenges facing both borrowers and third-party originators (TPOs). These innovations include its USDA one-time close construction loans, proprietary down payment assistance (DPA) program and reverse mortgage division. Its direct relationships with Fannie Mae, Freddie Mac, Ginnie Mae and private investors afford Click n' Close direct access to the capital markets, thus ensuring maximum liquidity for its product innovations. By servicing its loan programs in-house, Click n' Close provides its wholesale and correspondent partners with an additional level of certainty regarding loan salability and superior borrower service over the life of the loan.

Learn more at https://www.clicknclose.com/.

Related link: https://www.clicknclose.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Business, Free News Articles, Product Launches, Software

Click n’ Close launches proprietary SmartBuy loan suite to provide low- and moderate-income homebuyers with more affordable mortgage options

ADDISON, Texas -- Click n' Close, a multi-state mortgage lender serving consumers and mortgage originators through its wholesale and correspondent channels, announces it has launched SmartBuy, a suite of loan programs designed to give low and moderate-income (LMI) homebuyers an advantage in today's heightened mortgage interest rate environment. These programs offer down payment assistance (DPA) to help borrowers reduce their initial down payment as well as their monthly payment amounts utilizing Click n' Close's proprietary second liens.

"With recent volatility in rates and home prices maintaining record highs, TPOs need loan programs that are not only designed to help their borrowers navigate today's homeownership and affordability challenges but also varied enough to match borrowers' preferences and circumstances," said Click n' Close Owner and CEO Jeff Bode. "With our SmartBuy program, TPOs can meet their borrowers where they are today and create a loan program that helps them meet their goals."

"For example, TPOs can combine a seller-funded 2/1 buydown with SmartBuy for more cash-conscious borrowers, allowing them to secure a lower interest rate today, minimize their cash-to-close and postpone the rate reduction repayment to a later date. However, SmartBuy also offers a permanent buydown option that enables borrowers to qualify for a lower interest rate over the full life of the loan and maximize their long-term savings," Bode added. "Whether it is minimizing their cash-to-close, materially lowering their monthly payments or simply securing the lowest rate possible today, SmartBuy provides multiple options to help borrowers achieve their short- and long-term homeownership goals."

SmartBuy is the latest in a series of unique loan products developed by Click n' Close to help consumers and third-party originators (TPOs) address the challenges of today's market. Other innovations include its USDA one-time close construction loans, proprietary down payment assistance (DPA) program and eNote program for non-delegated correspondents.

For more information on SmartBuy or any of Click n' Close's innovative loan programs, contact Adam Rieke (wholesale) at adam.rieke@clicknclose.com or Julas Hollie (correspondent) at julas.hollie@clicknclose.com.

About Click n' Close, Inc.:

Click n' Close, Inc., formerly known as Mid America Mortgage, is a multi-state mortgage lender serving consumers and mortgage originators through its wholesale and correspondent channels and is also the nation's leading provider of Section 184 home loans for Native Americans. In operation since 1940, Click n' Close has thrived by retaining its entrepreneurial spirit and leading the market in innovation, including its adoption of eClosings and eNotes.

Combining this culture of innovation with a risk management mindset enables Click n' Close to deliver new products to market that address the challenges facing both borrowers and third-party originators (TPOs). These innovations include its USDA one-time close construction loans, proprietary down payment assistance (DPA) program and reverse mortgage division. Its direct relationships with Fannie Mae, Freddie Mac, Ginnie Mae and private investors afford Click n' Close direct access to the capital markets, thus ensuring maximum liquidity for its product innovations. By servicing its loan programs in-house, Click n' Close provides its wholesale and correspondent partners with an additional level of certainty regarding loan salability and superior borrower service over the life of the loan.

Learn more at https://www.clicknclose.com/.

Related link: https://www.clicknclose.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Advertising and Marketing, Business, Free News Articles

Mid America Mortgage Hires Julas Hollie as Correspondent Division Sales Director

ADDISON, Texas -- Mid America Mortgage, Inc. (Mid America) announced today that Julas Hollie has joined the company as sales director for Mid America's Correspondent Lending division. In this role, Hollie is responsible for increasing loan acquisitions through strategic marketing and customer outreach.

"One of Mid America's goals for 2020 was to increase brand recognition and new business opportunities for our correspondent division. Julas Hollie immediately stood out as the person to lead that growth," said Mid America Owner and Chief Executive Officer Jeff Bode. "Julas is a well-respected industry veteran with a proven track record of success, and his expertise will certainly lend itself to expanding the footprint of Mid America's correspondent operations, enabling us to capitalize on future opportunities in this channel."

Hollie brings more than 20 years of mortgage industry experience in account management, risk management, sales and business development to his new role at Mid America. Previously, Hollie served as an account manager for business development at Essent Guaranty, where he doubled the number of active lenders and created $23 million in new business opportunities.

Hollie's previous employers also include First American Title and Fannie Mae, where he was a principal contributor to the $1 billion affordable lending alliance announced by Arvest Mortgage and Fannie Mae in 2004. Hollie has been a member of the Fort Worth Mortgage Bankers Association executive board for the past three years and served as the president in 2019-2020.

"At this point in my career, who I work with is as important as the job itself. Mid America's team of highly capable professionals works hard to serve its customers and add liquidity in the market to support homeownership. Couple this with a senior management team that had the vision to invest in the next evolution of home finance, as evidenced by its leadership in eNotes, my decision to join Mid America was an easy one," Hollie said. "Mid America has already put in the work and commitment to create a take-out option for hard-to-place loans, and my goal is to increase awareness of this key capability and demonstrate Mid America's ability to provide this liquidity alternative consistently and at a competitive price."

For more information, contact Hollie at (972) 998-0161 or julas.hollie@midamericamortgage.com.

About Mid America Mortgage, Inc.

Mid America Mortgage, Inc., Addison, Texas, is a multi-state, full-service mortgage lender serving consumers and mortgage originators through its retail, wholesale and correspondent channels. We offer a wide range of residential home loan programs to meet the needs of most home buyers and homeowners and are also the nation's leading provider of Section 184 home loans for Native Americans. Learn more at https://www.midamericamortgage.com/.

In operation since 1940, Mid America has thrived by retaining its entrepreneurial spirit and leading the market in innovation, including its adoption of eClosings eNotes. Click n' Close is Mid America's ultra-secure, digital mortgage approval and closing process that gets home buyers from application to closing within two weeks. With just a few clicks at closing, Click n' Close puts keys in the home buyer's hand in 15 minutes or less. Apply online at https://www.midamericamortgage.com/click-n-close/#cnc.

Frequently named a top mortgage employer/workplace by industry trade magazines such as Mortgage Professional America, MReport, National Mortgage News and National Mortgage Professional, Mid America is looking for tech-savvy, service-oriented mortgage professionals to join our growing team. We are dedicated to providing our employees with industry-leading tools and technology to deliver a great package of competitive pricing, programs and knowledgeable service. Want to join our team? Visit https://www.midamericamortgage.com/careers/.

Twitter: @midamericamtge

Related link: https://www.midamericamortgage.com/

This news story was published by the Neotrope® News Network - all rights reserved.

Business, Free News Articles, Real Estate

Mid America Mortgage Promotes Kara Lamphere to Chief Operating Officer

ADDISON, Texas -- Mid America Mortgage, Inc. (Mid America) announced today it has promoted former Chief Compliance Officer and Director of Correspondent Lending Kara Lamphere to Chief Operating Officer (COO).

"Kara Lamphere is a tremendous asset to Mid America Mortgage and has been essential to Mid America's ability to execute eClosings and eNotes in our retail and TPO channels. She has also lead Mid America's efforts to help brokers make the successful transition to mortgage bankers through our eCorrespondent division," said Mid America Owner and CEO Jeff Bode. "Having already played such a key role in our operations, Kara was the natural choice for our COO, and we have no doubt that she will continue to drive operational excellence and growth for Mid America in this new role."

Prior to re-joining Mid America mortgage in December 2016, Lamphere was employed at CMG Financial, serving as senior vice president of compliance, and later adding the role of managing correspondent lending operations. She also served as Chief Compliance Officer at Mid America Mortgage from July 2012 to July 2014.

In addition, Lamphere has also held senior-level positions with numerous other financial institutions. As Senior Vice President of Compliance at CMG Financial, she was responsible for the oversight of six critical areas within the organization: Compliance, Quality Control, Fraud, Internal Audit, Counterparty Relations, and Correspondent Operations. She was also tasked with developing policies, procedures, training, analysis, and other related responsibilities and successfully managed a team of over 50 people through teamwork and communication.

As Vice President of Compliance for PrimeLending, Lamphere managed Prime's compliance program, providing her direct expertise and leadership in Compliance Risk, Marketing, Consumer Complaints and Complaint Analysis, Auditing and Testing, and the full oversight of State Compliance Program. She was also integral in developing PrimeLending's training, policies and procedures, and product development.

"Mid America has been at the forefront of the push towards fully electronic mortgages, and to have played a role in that effort has been both challenging and rewarding," Lamphere said. "As COO, I am excited for the opportunity to challenge myself further in the industry and to aid Mid America in its continued success."

About Mid America Mortgage, Inc.:

Mid America Mortgage, Inc., Addison, Texas, is a multi-state, full-service mortgage lender serving consumers and mortgage originators through its retail, wholesale and correspondent channels. In operation since 1940, Mid America has thrived by retaining its entrepreneurial spirit and leading the market in innovation, most recently with its adoption of electronic mortgage closings (eClosings) and promissory notes (eNotes). We offer a wide range of residential home loan programs to meet the needs of most home buyers and homeowners, and are also the nation's leading provider of Section 184 home loans for Native Americans.

Mid America is looking for tech-savvy, service-oriented mortgage professionals to join its growing team. We are dedicated to providing our employees with industry-leading tools and technology to deliver a great package of competitive pricing, programs and knowledgeable service. Want to join our team? Visit http://www.midamericacareer.com/.

Additional information about Mid America Mortgage, Inc. can be found on the company's website at http://www.midamericamortgage.com/about/.

Twitter: @midamericamtge

*PHOTO for Media: Send2Press.com/300dpi/17-0803s2p-lamphere-300dpi.jpg
*Photo Caption: Kara Lamphere promoted to Chief Operating Officer.
*Photo Credit: Jason Gilmore, J&J Studio.

Related link:

This news story was published by the Neotrope® News Network - all rights reserved.

Free News Articles

Mid America Mortgage to Purchase eNotes through Its Correspondent Channel

ADDISON, Texas -- Mid America Mortgage, Inc. (Mid America) Owner and Chief Executive Officer Jeff Bode today announced it will purchase eNotes for loans closed electronically from approved sellers through its correspondent lending channel.

"After implementing eClosings and eNotes in our retail channel, we immediately saw their potential to improve liquidity for smaller market players, especially brokers seeking to transition into mortgage banking, and we wanted to incentivize the market to adopt eClosing and eNotes by providing a secondary market channel for these types of loans," Bode said. "By utilizing eClosings and eNotes, lenders can decrease turntimes on their warehouse line to 48 hours or less, which, in turn, reduces the amount of per-loan interest and fees they are charged by the warehouse bank."

One of the traditional barriers to eClosing has been a perceived lack of acceptance from investors and warehouse banks. To counter this, Mid America has established relationships with several eWarehouse bank providers, including FirstFunding and Merchants Bank of Indiana, to give participating lenders added confidence that eClosed loans will be purchasable.

"We are excited about the marketplace enhancements made possible via a well-planned eNote strategy, said Jim Dunkerley, founder and president of FirstFunding. "Mid America is dedicated to the development of strong eNote standards for itself and its correspondent lenders."

While participating lenders can utilize any eClosing/eNote vendor, Mid America's list of preferred vendors include:

* Digital Delivery eSign
* DocMagic
* International Document Services, Inc. (IDS)
* Pavaso

Loans must be in an approved/eligible status to be eligible for eClose/eNote purchase with Mid America. Prior to close, loans must be submitted to Mid America for credit and compliance approval in order to have the purchase wire completed within 24 to 48 hours of the scheduled closing. Any loans closed prior to Mid America review will go through the normal Correspondent review process.

For more information, contact Mid America's Director of Correspondent Lending Kara Lamphere at 214-261-3292 or kara.lamphere@midamericamortgage.com.

About Mid America Mortgage, Inc.:
Mid America Mortgage, Inc., Addison, Texas, is a multi-state, full-service mortgage lender serving consumers and mortgage originators through its retail, wholesale and correspondent channels. In operation since 1940, Mid America has thrived by retaining its entrepreneurial spirit and leading the market in innovation, most recently with its adoption of electronic mortgage closings (eClosings) and promissory notes (eNotes). We offer a wide range of residential home loan programs to meet the needs of most home buyers and homeowners, and are also the nation's leading provider of Section 184 home loans for Native Americans.

Mid America is looking for tech-savvy, service-oriented mortgage professionals to join its growing team. We are dedicated to providing our employees with industry-leading tools and technology to deliver a great package of competitive pricing, programs and knowledgeable service. Want to join our team? Visit http://www.midamericacareer.com/.

Additional information about Mid America Mortgage, Inc. can be found on the company's website at http://www.midamericamortgage.com/about/.

Twitter: @midamericamtge

This news story was published by the Neotrope® News Network - all rights reserved.