Skip to main content

Franklin First Launches New Project Development Division for Co-Ops and Condos

NationalMortgageProfessional.com
Aug 06, 2015
Franklin First Financial Logo

Franklin First Financial Ltd. has announced the launch of a new Project Development Division to work exclusively with condominiums and co-op developments. The new Division will assist these developments in securing or recertifying their approvals with Fannie Mae, the FHA, and/or the VA, as well as financing for the individual units. Each development will be assigned a dedicated mortgage team to work closely with all of the parties involved (the sponsor, the developer, the management company, the boards, the real estate agents, the owners and the buyers) to ensure the most streamlined and user-friendly mortgage experience industrywide.

“The trend of increasing new construction starts for large multi-family dwellings, coupled with the number of existing condos and co-ops that have lost their warrantability over the last several years, makes this a perfect time for Franklin First Financial to enter this market with a division specializing in project developments," said Janet Orozco Feller, Project Development Division director. "With the strong, diversified portfolio of mortgage products that we have built over the years and our traditional commitment to excellence, we expect to be on the forefront of this market before long, and we are very excited by the prospect.”

Ocwen Financial To Acquire Reverse Mortgage Servicing Platform

Ocwen Financial Corporation's wholly-owned subsidiary, PHH Mortgage Corporation will acquire RMS' reverse mortgage servicing platform.

Industry News
Jun 18, 2021
UniteCT Emergency Rental Assistance Succeeds

Thanks to the successful launch of the UniteCT program, emergency rental assistance funds are helping Connecticut residents maintain housing.

Industry News
Jun 17, 2021
Angel Oak Mortgage Announces Initial Public Offering

Angel Oak Mortgage announced its initial public offering of 7,200,000 shares of its common stock at $19 per share.

Industry News
Jun 17, 2021
Mortgage Apps Rebound After Three Consecutive Weeks Of Declines

The Mortgage Bankers Association reported the first increase in mortgage applications after a three consecutive weeks on declines.

Industry News
Jun 17, 2021
CFPB New Rule Prevents Predatory Lending To Military Service Members

The CFPB stipulates its authority to examine supervised financial institutions for risk to active duty servicemembers and their dependents.

Industry News
Jun 16, 2021
Inventory Begins A Slow Recovery

Inventory grew 3.9% from April to May, according to Zillow's latest Market Report, after a year of steady decline.

Industry News
Jun 16, 2021