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FGMC Gets REO Sale Assistance From Fannie Mae

NationalMortgageProfessional.com
Jul 18, 2011

First Guaranty Mortgage Corporation (FGMC) has annopunced that it will now offer Fannie Mae HomePath and HomePath renovation products through its wholesale lending and consumer direct lending channels. HomePath is the Fannie Mae's venture for marketing and selling real estate-owned (REO) properties of which it takes ownership after the foreclosure process, providing special financing terms for the purchase of select Fannie Mae-owned properties. FGMC, which offers wholesale and resale lending products nationwide, is one of only a handful of mortgage lenders in the country to be approved to provide the HomePath product. FGMC will also offer the Non-Owner Occupied Investor financing allowed through Fannie Mae’s product. The HomePath offering will provide options to homebuyers and Realtors alike by coupling rehabilitation loans with Fannie Mae-owned sales. First Guaranty Mortgage Corporation (FGMC) is a national, full-service mortgage lending firm offering mortgage solutions to clients of varying income and credit types. Fannie Mae is currently offering additional incentives via HomePath, including a 3.5 percent closing cost incentive for borrowers and $1,200 bonus to selling agents. These incentives are valid through Oct. 31, 2011. “Fannie Mae’s HomePath product is a natural solution for those seeking to increase sales. We believe that renovation loans such as the HomePath product give the homebuyer additional incentives by allowing them to visualize a Fannie Mae-owned home customized to his or her liking,” said FGMC Senior Vice President Andrew Peters. For more information, please contact Andrew Peters at apeters@fgmc.com. Note: HomePath is a registered trademark of Fannie Mae. For further information on available HomePath properties, please go to www.HomePath.com. About First Guaranty Mortgage Corporation McLean, Virginia-based FGMC is a full service wholesale and retail national lender offering mortgage solutions to clients of varying income and credit types. FGMC was founded with the idea that people are more than numbers and education and customer service can make the difference. Its Rebuild the Dream initiative embodies this spirit by focusing on replenishing America’s housing stock by way of expedited rehabilitation lending. In an economy where expenses continue to rise and income levels fall short, FGMC continues to exceed expectations in creating lasting mortgage solutions in the lives of its clients. For more information about First Guaranty Mortgage Corporation, visit: http://www.fgmc.com.
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