Paramount Residential Mortgage Group Inc. (PRMG) has entered into a partnership with LoanSense, a student loan advisory firm, to help more prospective homebuyers with student loan debt successfully secure mortgage financing. The collaboration is designed to integrate student debt support into the mortgage origination process to improve borrower outcomes and close rates.
Under the new arrangement, PRMG loan officers will be equipped with early notifications when a mortgage applicant may benefit from student loan restructuring or repayment adjustments that could lower monthly obligations. This enables PRMG to assess a borrower’s financial profile more holistically and to potentially increase their affordability and purchasing power.
“Our loan officers will receive notifications where borrowers can lower their student loan payments and overall debt burden, all within the mortgage process,” said Chris Sorensen, SVP/director national retail production at PRMG. “By engaging with LoanSense early in the origination cycle, many of our clients will benefit with restructured student loan debt and increase their affordability on the new mortgage and or have greater purchasing power.”
LoanSense’s core service uses technology and personalized advising to identify candidates who can save money through federal and private student loan programs. LoanSense promises to deliver results within 24 hours of application, informing PRMG originators whether there are viable opportunities to improve a borrower’s financial profile and support their path to homeownership. Cat Kaiyoorawongs of LoanSense emphasized that the partnership is designed to prevent unnecessary declines by identifying actionable solutions for borrowers experiencing debt-to-income challenges.
“Lenders can use LoanSense as part of our borrower incubation program, so their assigned loan officers know within 24 hours of application if we can improve home affordability,” added Kaiyoorawongs. “We join our lenders’ team and will help their loan officers pull through borrowers. Every borrower counts. They have dreams and aspirations, and nobody wants to be declined unnecessarily.”
PRMG branch managers also expressed confidence that the partnership enhances the company’s value proposition. McGehee Woolf, a PRMG branch manager, noted that tools like LoanSense provide their teams with deeper insights into borrower needs and strengthen relationships with real estate partners.
“I work at PRMG because they provide us with the tools and insights we need to help our clients overcome obstacles that stand in the way of homeownership,” said Woolf. “PRMG gives us an edge with our realtor partners through collaborations with companies like LoanSense. As a result, we help more people and become an asset to our partners and our community.”
