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Silver Hill and The Duncan Group to produce commercial lending tool

National Mortgage Professional
Nov 21, 2006

Danica Patrick to introduce new Argent alt-A productsMortgagePress.comAlt-a mortgages Argent Mortgage Company LLC is expanding its reach in the mortgage industry by introducing a new line of alt-A products. The addition of this new product line will increase the already wide range of mortgage products offered by Argent while, at the same time, broadening the company's customer base. The Alt-A Advantage and Alt-A 80/20 Advantage programs became available to Argent-approved brokers on July 17. Argent is not the only non-prime lender that has moved into the alt-A market in recent years; however, what distinguishes this product line from the competition is the level of support and speed of service that Argent delivers. "Our alt-A products will be serviced by the same responsive Argent team our brokers have come to know and appreciate," said Sam Marzouk, president of Argent. "Argent will not miss a beat, whether it is funding the new alt-A product, a non-prime loan or both. Under our long-standing Argent service guarantee, brokers receive an answer on their loan requests in 24 hours or our fee is cut in half." To promote the Alt-A Advantage and Alt-A 80/20 Advantage programs, Argent will use Danica Patrick, 2005 Indy Racing League Rookie of the Year, to illustrate the defining characteristics of its new products with the same outstanding services. "Danica represents innovation, speed and teamwork, the same attributes that have set Argent apart from its competitors in the non-prime sector and now the alt-A market," said David Stark, executive vice president of marketing for Argent. An expanded product line is the latest example of how Argent strives to provide greater value to more than 200,000 Argent-approved brokers. The Alt-A Advantage and Alt-A 80/20 Advantage are designed specifically to expand the range of options Argent-approved brokers can provide to borrowers at competitive prices. Major characteristics of Argent's Alt-A Advantage and Alt-A 80/20 Advantage products include: • Loan amounts up to a maximum of $2 million; • Fully amortized fixed mortgages with 15- or 30-year payment terms, interest-only options for five- and 10-year terms, and adjustable-rate mortgages at three-, five- and seven-year terms; • Owner-occupied, second home or investment properties; • Minimum FICO score of 680; and • Considers only two-year bankruptcy and three-year foreclosure history. The Alt-A Advantage and Alt-A 80/20 Advantage products also present advantages to investors, who will be able to choose from a more diverse portfolio at Argent. For more information, visit www.argentmortgage.com.
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