Skip to main content

HUD Recognizes Homebridge Financial as a Top 203(k) Lender

NationalMortgageProfessional.com
Dec 18, 2019
Homebridge Financial Services added a new branch in the Fort Worth, Texas suburb of Aledo to be led by Sales Manager Shonn Cournyer, a 20-year industry veteran

For the third consecutive year, Homebridge Financial Services has been ranked first in helping homebuyers with their renovation mortgage needs, according to the U.S. Department of Housing & Urban Development (HUD) year-end 203(k) Endorsement Summary. Homebridge first began offering 203(k) loans in 2011, and has made them a priority because their unique attributes can help customers breathe new life into distressed or outdated properties.
 
“Unfortunately for homebuyers, renovation mortgages are one of the best-kept secrets in our industry and a very misunderstood loan category,” said Steven Marshall, Homebridge’s national director of renovation lending. “They should be on the radar of almost any homebuyer, and even homeowners looking to renovate, but they’re not because many lenders do not offer them to their customers. When a borrower cannot find a home that meets their needs in terms of location, design and affordability, they delay their purchase and the entire housing market suffers. Homebridge’s success with renovation mortgages is due to both the expertise our associates have with these loans, and the interest our customers have in them once they discover these mortgages are a viable option.”
 
In its report, HUD stated that Homebridge 203(k) loan production was 20 percent higher than the second-highest lender on HUD’s report, and 46 percent more than the third-highest lender on HUD’s 203(k) endorsement report.
 
Housing markets where Homebridge was the leader in FHA 203(k) loans include: New York; Los Angeles; San Antonio, Texas; Jacksonville, Fla.; Columbus, Ohio; Washington, D.C.; Boston; Baltimore; Miami, Fla.; Tampa, Fla.; Pittsburgh; Newark, N.J.; and Burlington, Vt.

 
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