Virginia-based mortgage lender First Guaranty Mortgage Corporation (FGMC) announced the successful deployment of PriceMyLoan (PML), a loan pricing and automated underwriting system (AUS). The national wholesale and retail lender sees PriceMyLoan as a major part of their growth strategy. “This really changes our entire outlook,” said Andrew Peters, vice president of wholesale lending. “It’s probably the biggest change we’ve made in over ten years."
FGMC has established itself as a trusted provider of all types of mortgage loans, but they've created a strong niche by focusing on families that find obtaining a mortgage challenging. "FGMC was founded with the idea that people are more than numbers," said Ken Clark, FGMC founder and president.
Although strength in FHA and VA lending is one of FGMC’s defining characteristics, it proved to be a significant hurdle as they attempted to automate more of their processes. One PML feature that immediately caught Sizemore’s attention was PriceMyLoan's direct integration with FHA TOTAL Scorecard. Another factor in FGMC's decision was PriceMyLoan's comprehensive utilization of credit report data.
For more information, visit www.fgmc.com or www.pricemyloan.com.