Paramount Residential Mortgage Group Inc. (PRMG)
has announced the launch of its PRMG Plus Down Payment Protection program. Where title insurance, private mortgage insurance and homeowner’s insurance each make lending more secure for the lenders, only PRMG Plus covers borrowers regardless of what happens in the housing market.
“PRMG understands that buying a home can be a big step for any borrower and that it takes a long time for a borrower to accumulate the necessary downpayment to buy a home,” said Lara Rausch, PRMG Vice President of Products and Training. “As such, we are pleased to be able to offer PRMG +Plus to them. This is just one more way PRMG looks out for our borrowers, by providing them with the option to protect their initial downpayment should they not be able to recoup it when they sell. This option gives them peace of mind as they invest into their new home, knowing that their downpayment is safe, regardless of what happens in the housing market.”
Lending in 47 states and a Fannie Mae and Ginnie Mae seller/servicer, PRMG has more than 138 branches across the U.S.
“PRMG is committed to delivering innovative products that build customer confidence, no matter how volatile the market,” said Joe Melendez, Chief Executive Officer and Founder of ValueInsured, which provides +Plus Down Payment Protection. “This is an important time for homebuyers who want to buy a home, as well as the industry, as we continue to regain our footing from the market shake up. We are proud to partner with a company that is a part of the new landscape and has industry-leading customer service.”