Locally-Owned Destiny Lending Partners with Academy Mortgage; Firm's New Relationship Brings More Mortgage Options to Clients

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Destiny Lending, which had grown to be the second largest independent mortgage firm in Northern Colorado, has partnered with nationally-known Academy Mortgage Corporation. Destiny founder Shawn Beard said the merger with Academy will allow Destiny, with eight loan officers and three support staff, to offer in-house underwriting and closing, as well as a wider variety of mortgage products. This will allow Destiny to provide fast, top-quality service to the real estate and home building industry, as well as homeowners.

Destiny Lending, which had grown to be the second largest independent mortgage firm in Northern Colorado, has partnered with nationally-known Academy Mortgage Corporation. Destiny founder Shawn Beard said the merger with Academy will allow Destiny, with eight loan officers and three support staff, to offer in-house underwriting and closing, as well as a wider variety of mortgage products. This will allow Destiny to provide fast, top-quality service to the real estate and home building industry, as well as homeowners.

"Very few companies in northern Colorado can support in-house underwriting and closing," notes Beard. "The ability to underwrite and fund our deals right here helps us greatly in our efforts to become a premier lender in northern Colorado and southern Wyoming, and it brings us a lot of support to help us operate more efficiently. It will enable us to continue to grow, and we're seeing some new accounts already as a result of this relationship."

Beard added, "We're thrilled to offer our customers the capabilities of a large retail lender with our community-oriented attention to service."

Salt Lake City-based Academy Mortgage has been in business for 20 years and operates in 28 states, with 30 branches nationally, including offices in Denver, Longmont and Colorado Springs. Academy is a direct-lender and has the ability to close loans in as little as 48 hours with an appraisal and title, and can also broker loans.

"We were especially impressed with the leadership of Shawn Beard, Destiny's founder, and the character of his whole team. Their technical savvy, knowledge, skills and integrity have helped them become leaders in the referral-based mortgage banking world," noted Bill Bent, a Denver-based vice president of retail sales for Academy Mortgage Corporation. "That kind of values-driven culture, combined with an approach to business and a focus on market segments similar to how Academy does business, made this relationship a natural fit."

That parallel focus includes building relationships and working to meet the lending needs of realtors and builders. "Shawn and his team really work to deliver a strong value proposition to realtors and builders in northern Colorado and southern Wyoming," Bent added. The new relationship with Academy now gives Destiny loan officers even more tools to serve their clients, including FHA, construction, FHA Rehab and FHA Secure loans, reverse mortgages (FHA and conventional), streamlined refinance for non-owner occupied properties for VA and FHA, and CHFHA. The company continues to broker loans, and offers three types of down payment assistance to do 100 percent FHA purchase loans.

FHA Rehab loans can help borrowers purchase a home that is in need of updates or repairs - such as a bank-owned home that is in need of immediate repairs - where the borrower does not have the resources to fund the repairs out-of-pocket. This gives a qualified borrower the means to purchase that home and make those repairs.

FHA Secure loans can help borrowers who have adjustable rate mortgages in which the interest rate jumped and the borrower was not able to stay current on the loan after the initial adjustment period. Under the FHA Secure program, borrowers can refinance the home as if they had a clean payment history, as long as they were not delinquent on the loan before the adjustment period began.

As a result of the relationship with Academy, Destiny's employees are now employees of Academy, which provides them with an attractive salary and benefits package. Destiny expects to continue building its sales staff, and anticipates ongoing growth over time. Shawn Beard now becomes the branch manager of the Loveland office. The company is currently seeking to hire experienced loan officers.

About Destiny Lending
Destiny Lending, a division of Academy Mortgage, is the second largest independent mortgage firm in Northern Colorado. Destiny was founded in 2005 by Shawn Beard. The locally-owned, full-service firm has relationships with 75 well-known commercial and residential lenders, and its recent partnership with nationally-known Academy Mortgage allows the company to offer even more mortgage options to their clients. Destiny has a strong track record which allows the company to receive expedited underwriting turn times, as well as big broker pricing.

The firm has also earned the privilege of underwriting loans in house, and is one of the few American lending firms certified to provide the unique Total Access Mortgage product. Destiny specializes in creative financing to assist clients in unusual financial situations, such as those who are self-employed and others. Options the company can offer include option ARMs, interest-only loans, 100 percent loans on investment property and one-time-close construction loans. For more information, visit http://www.destinylending.com, or call (970) 667-3499, or email shawn@destinylending.com.

About Academy Mortgage Corp.
Academy Mortgage Corp. was founded in 1988 in Salt Lake City, Utah, by Duane Shaw. Over the past two decades, the company has grown into one of the largest locally-owned mortgage banks in Utah, with more than 100 loan officers. As a direct-lender that focuses solely on its retail offices, Academy's loan officers have access to the best tools and latest technology in the industry, to better serve their clients. The company's strong relationships with some of the largest, most successful investors in the country allow Academy to offer the most competitive rates, as well as a wider selection of mortgage products to better meet their client's needs. For more information, or to locate a branch near you, visit http://www.academymortgage.com, or call 800 660-8664, or email info@academymortgage.com.

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BRAD SHANNON
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