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National Mortgage Professional
Sep 30, 2008

1st Metropolitan Mortgage introduces BrightGreen Mortgage program; Toyota Prius sweepstakesMortgagePress.com1st Metropolitan Mortgage, Daniel Jacobs, BrightGreen Mortgage, recycle, Toyota Prius, ecofriendly 1st Metropolitan Mortgage, a national mortgage originator, has made a commitment to making the mortgage origination process more environmentally friendly by introducing its national BrightGreen Mortgage program. The program will give originators the tools and support to produce mortgages in a more environmentally-friendly manner while saving borrowers time and money. Participating branches nationwide will operate in a greener and far more sustainable way than the current industry standard to produce mortgages. The mission of the BrightGreen Mortgage is to provide consumers personalized service and a variety of loan products with great rates while acting in a more socially responsible manner. "We do not have to be environmental activists or make radical lifestyle changes to have a significant, positive effect on our environment," said Daniel Jacobs, 1st Metropolitan CEO. "Simple acts go a long way to preserving our future. 1st Metropolitan Mortgage has always said we have a solid foundation for a better future. The BrightGreen Mortgage initiative is just another way of demonstrating our commitment to the future." The campaign has multiple facets from community initiatives to a hybrid vehicle sweepstakes to new technology and business practices to better accomplish the mission of the BrightGreen Mortgage. Best business practices of the program include paper elimination, recycling and the use of recycled materials whenever possible. "As a company in an inherently paper-saturated business, we believe it is imperative that we take the initiative to reduce paper and become even more environmentally and socially responsible," Jacobs said. "This campaign increases awareness within our organization of corporate social responsibility while also providing our originators a way to differentiate the goods and services they provide in a highly commoditized industry, which is not historically environmentally responsible. Consumers win, we win, the environment wins and one lucky person will win a Toyota Prius." There are several elements to the BrightGreen Mortgage campaign, including: • Consumers will have the opportunity to win a Toyota Prius hybrid during a six-month sweepstakes. The Prius is one of the countrys most popular hybrids with gas mileage of 48 mpg in the city. • A local coloring contest for students will encourage young people to share their thoughts about being eco-friendly, raising awareness of sustainability among the youth. The winning pictures will be compiled for an eco-awareness calendar that will contain easy tips on supporting the environment that everyone can implement with ease. • There will be a focus on using recycled paper when paper elimination is not possible. • Recycling, document scanning and e-signatures (where allowable) are key elements to the BrightGreen Mortgage. • The BrightGreen Mortgage is available for all loan types, including Fannie Mae, Freddie Mac, FHA, VA, Rural Development and Jumbo loans. Each loan type will be able to take advantage of varying components of the BrightGreen Mortgage objectives. • 1st Metropolitan will provide special on-going training to help participating branches become more eco-friendly and create innovative community involvement campaigns for sustainability. 1st Metropolitan will also plant a new tree for each loan closed as part of the BrightGreen Mortgage program. The company estimates that for every loan, 500 pieces of paper are used, which means for 17 closed loans, one tree is consumed 811 gallons of waste water is created and 242 pounds of green house gases (CO2) are created. This does not take into consideration the loans that do not result in a closing, which create substantially more environmental waste without even fulfilling the objective of a needed closed loan. With the BrightGreen Mortgage, 1st Metropolitan plans to reduce the environmental impact of the mortgage process substantially. "While we cannot eliminate 100 percent of the paper, waste water and green house gases used in the mortgage process." Jacobs said, "The BrightGreen mortgage is a major step toward greater sustainability and helps us stop squandering our environmental resources." For more information, visit www.1stmet.com or www.brightgreenmortgage.com.
Published
Sep 30, 2008
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