Skip to main content

Dynamic Ventures and NOVA Home Loans to Partner for REO Business

Nov 12, 2010

Dynamic Ventures Corporation (DYNV) has announced that they have reached an agreement in principle with NOVA Home Loans. The parties will continue to work toward a definitive agreement. The agreement in principle outlines how NOVA Home Loans will work with DYNV's newly formed division that will focus on the real estate-owned (REO) segment. NOVA Home Loans has been providing financing solutions to homeowners and homebuyers since 1980 and is able to originate loans in 15 states. "We feel confident that our current and ongoing expansion will establish us as an industry leader in the REO segment," said Dave Brown, vice president of business development for DYNV. "Our current and expanding relationship with an industry leader such as NOVA will allow us a ready and rapid access to mortgage financing as our REO division begins reintroducing properties to prospective buyers. We are looking forward to this new relationship and the possibilities of the REO potential." NOVA Home Loans Production Manager Derrick Polder said, "With our in-house underwriting, approval and documentation process, NOVA Home Loans can provide quick and effective financing solutions to prospective buyers. We understand how to document and present value improvements to underwriters, how to work through FHA's '90 day seasoning' all of which helps to provide a quick turnaround on these foreclosed properties."
About the author
Published
Nov 12, 2010
123 Newrez Employees Laid Off In Florida and Colorado

WARN Notices were filed the day after Computershare Mortgage Services, SLS acquisition closed.

May 07, 2024
Ishbia Predicts A Rate Cut By Election Day

CEO of United Wholesale Mortgage shares 'personal perspective' in new YouTube video

May 03, 2024
Yield Curve, Schmield Curve?

The yield curve is a harbinger, not the be-all, end-all for lenders.

May 02, 2024
UWM, UMortgage Under Attack For Alleged Shell Scheme

A report released on April 25 by the hedge-funded media company alleges UWM set up a shell company, UMortgage.

Apr 25, 2024
More Questions Than Answers At Housing Finance Climate Summit

Government officials, housing leaders, and climate scientists meet to address climate change's escalating impact on housing.

Apr 22, 2024
Maximum Acceleration, Originator Connect Network Sign Exclusive CE Agreement

Pact gives OCN guaranteed live CE at shows, creates nationwide opportunity for Maximum Acceleration

Apr 17, 2024