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Prospect Mortgage

Prospect Mortgage Establishes New Construction Lending Division

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Prospect Mortgage has announced a new platform to finance new single-family and condominium homes nationwide, supporting homebuyers, home builders, developers, and real estate agents in an improving new construction market. Prospect Mortgage has assembled an experienced team with subdivision and condo construction, and appraisal expertise. Prospect is offering a product lineup to assist buyers and builders with new home construction. The extended rate lock program allows eligible buyers to lock in their interest rate at the time a loan application is completed for an unfinished home.Click to continue

REMN Adds Scott Bowling as Branch Manager in Orlando

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Real Estate Mortgage Network Inc. (REMN) has announced the addition of Scott Bowling as the
Orlando, Fla. office’s branch manager, overseeing a team of 20 REMN associates and will
report directly to REMN’s Florida Regional Managers, Christopher Wasinger and BrianClick to continue

Prospect Mortgage Announces Launch of Renovation Lending Correspondent Division

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Prospect Mortgage has announced the launch of its Renovation Lending Correspondent Division to help lenders address the needs of their customers looking for renovation loans. "With so many REO and foreclosure properties available today, renovation lending has grown from a niche product to one of the best financing solutions in today's market," says Doug Long, president of Prospect Mortgage Retail and Correspondent Lending. "Prospect Mortgage is the second-largest FHA 203(k) lender in the country, according to endorsement data from HUD [U.S.Click to continue

Prospect Mortgage Offering Jumbo Loans on Secondary Market

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Prospect Mortgage has begun offering prime jumbo loans with balances up to $2 million to the secondary market. The prime jumbos being offered by Prospect are 30-year, fixed-rate and adjustable-rate mortgages (ARMs) with minimum credit scores of 700 and a 20 percent downpayment for balances up to $1 million, and a 30 percent downpayment and two appraisals for loans between $1 million and $2 million.Click to continue

Real Estate Mortgage Network (REMN) Adds Jeff Conn

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Real Estate Mortgage Network (REMN), a national mortgage lender based in River Edge, N.J., has announced the addition of Jeff Conn its growing team of mortgage professionals. Conn has been named branch manager of REMN’s Kennesaw, Ga., branch. He graduated from University of Georgia and has more than 15 years of experience in mortgage sales and management. Prior to joining REMN, Conn was a branch manager for Prospect Mortgage.Click to continue

New Vista Asset Management names Ivan Choi national default sales executive

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San Diego-based New Vista Asset Management, a Certified Minority Business Enterprise and a nationwide provider of real estate-owned (REO) asset management services, has named foreclosure industry veteran Ivan Choi as the company’s national default sales executive. Choi currently serves as president of REOMAC, a national non-profit trade association of mortgage servicing executives, asset managers, foreclosure attorneys and real estate brokers.Click to continue

Prospect Mortgage adds Jeremy Daugherty

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Jeremy Daugherty has joined Prospect Mortgage as the new district manager for the company's southern Nevada region. Daugherty has 20 years of experience in the customer service management industry and nine years in the mortgage industry. In addition to building sales volume, Daugherty said he will use his strong mortgage origination and management background to provide an unparalleled level of customer service.Click to continue

Prospect Mortgage adds Joel Epstein as REO manager

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Joel Epstein has joined Prospect Mortgage as the company's new real estate-owned (REO) manager for Prospect's southeast region. Epstein is an author, speaker and production manager with over 20 years of mortgage lending experience. In addition to building sales volume from REO properties, Epstein will work to establish and maintain relationships with key real estate agent partners and broker/owners in the Washington, D.C., metro area.Click to continue

Distressed Property Institute hosts nearly 700 at CDPE Momentum 2010 short sale and REO event

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The Distressed Property Institute LLC, hosted nearly 700 real estate professionals at its national convention, CDPE Momentum 2010 in Tempe, Ariz. Leaders from Bank of America, Wells Fargo, Prospect Mortgage, Fidelity National Title and RealtyTrac were on hand to provide industry updates and information to help agents better assist distressed homeowners. “Since 2008, the CDPEs nationwide have helped hundreds of thousands of homeowners avoid foreclosure,” said Alex Charfen, chief executive officer of the Distressed Property Institute LLC.Click to continue