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Florida industry appointments update - 09/29/2006

National Mortgage Professional
Oct 10, 2006

ABC launches Power Fixed 5-year ARM productMortgagePress.comABC Power Fixed 5-Year ARM American Brokers Conduit, the wholesale division of American Home Mortgage Investment Corporation, a publicly held Real Estate Investment Trust (REIT), has announced the introduction of its new Power Fixed 5-Year ARM. Highlights of the Power Fixed 5-Year ARM include: • A fixed monthly payment rate as low as 1.25 percent for first five years; • The ability for borrowers to select a fixed interest up front, so there's no guessing on deferred interest if minimum payment option is chosen; • The choice of four monthly payment options for better budgeting and cash flow management; • 100 percent LTV to $500,000 with LPMI; • Loan amounts to $8 million; • DTIs to 55 percent; • SIFA available to a 90 percent LTV; and • The inclusion of LLCs. "The Power Fixed 5-Year ARM has some truly fantastic aspects that will meet the needs of a wider range of borrowers, while providing ABC broker partners with a solid and highly desirable product," said Lisa Schreiber, executive vice president of ABC. "Today's borrowers want more certainty and stability in their mortgage and ABC has responded with a product that provides real solutions." For more information, visit www.abconduit.com.
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