Mortgage Market Meltdown Has Eagle River Fired Up

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Battered Borrowers Sign On: New Website Offers New Options; Commercial Division Sees Eagle Soar as Residential Lenders Fall to Higher Credit Standards

Today's credit crunch leaves buyers few options. Tightening qualifying factors compel Eagle River Mortgage to embark on expanding lending capabilities, offering financing on income-producing properties such as office buildings, hotels, strip malls, etc. Gone are the days of bank-hopping for various financial services; with the launch of a newly designed website, prospective borrowers can enjoy a user-friendly, one-stop-shop alternative for all financing needs from the comfort of home.

"Historically, the housing market cycles through peaks and valleys," says Blane Russell, President of Eagle River Mortgage. "But one thing that remains constant is the need for commercial financing. Investors and business owners continue to buy properties which in-turn require refinancing to avoid hefty balloon payments. We owe our unprecedented growth and success to honoring the residential needs of our clients. I am proud to say we will continue to replicate this momentum by the expansion of our commercial division."

In Seduced by Success, Robert J. Herbold, the former Chief Operating Officer of Microsoft, highlights nine traps every successful organization must avoid. The first three traps are neglect, pride, and boredom. Sticking to yesterday's business model, allowing products to become outdated, and clinging to once-successful branding all destroy a business' ability to recognize and meet the need for change. "You have to be creative and innovative," Blane explains. "Sometimes that means thinking outside the box and changing things up a bit, especially when facing uncertainty in the market. For example, we've decided to change the look and feel of our website. By revitalizing our brand and products we are managing to maintain and even broaden our achievements."

Founded in 1997, Eagle River Mortgage quickly became Idaho's largest independent brokerage specializing in non conforming refinance, purchase loans, VA loans, home equity credit lines, and loans for the self employed. Today, they lead competitors by extending far beyond state border; offering tailor-fit lending programs to homeowners and business owners nationwide.

If you'd like more information about this topic, or to schedule an interview with Justin Harris, please call 208-319-9999.

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Justin Harris
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