Norcom Mortgage has continued to expand its footprint into new states, by opening four new branches in the Mid-Atlantic region. With two new offices in each Pennsylvania and Maryland, Norcom now has seven locations serving communities from Pennsylvania to Virginia. The newest Maryland locations are open in College Park and Columbia; and the two Pennsylvania offices are located in Indiana and Lancaster. Norcom Mortgage is proud to announce that Jay Welsh has been appointed the regional manager responsible for the four new locations. Included as part of the expansion, Norcom has hired Kim Keller to head up the operational support in processing, closing and underwriting dedicated to this region.
"Our expansion comes at an exciting time within the mortgage banking industry," said Norcom Mortgage Senior Vice President of Retail James Morin. "We have recognized that consumers and realtors need a local partner that offers a broad spectrum of products and common sense underwriting. The Mid-Atlantic market represents a great opportunity for Norcom Mortgage to grow so I am very pleased to have Jay Welsh and Kim Keller join our team."
Proposition 37 could open new purchase lending opportunities, but financing costs and borrower qualification will determine its reach
California voters have approved a $25 billion homebuyer financing initiative that could create new purchase mortgage opportunities for lenders and brokers, particularly those working with homebuilders.Proposition 37, which passed with more than 60% of the vote in the Nov. 3 ...
As investor purchases decline, DSCR loans capture a growing share of Non-QM lending, creating opportunities for brokers who understand the differences between lender programs
Real estate investors are buying fewer homes than they did a year ago, yet debt service coverage ratio (DSCR) lending continues to gain ground in the market. A big part of the reason is that DSCR loans are purpose-built for property investors. Agency loans qualify borrowers ...