The ability to offer the HarmonyLoan has given us an instant competitive advantage.This ground-breaking tool opens doors that were tightly shut in the past.
Tysons Corner, VA (PRWEB) June 14, 2011
Mortgage Harmony Corp., a provider of innovative residential mortgage products, today announced that McLean Mortgage Corporation will become the first correspondent lender to offer the HarmonyLoan™, a consumer-initiated interest rate-resetting mortgage product with a patented recurring compensation structure for loan officers. HarmonyLoan aligns the interests of consumers and mortgage originators in a way that is unprecedented in the industry. McLean Mortgage Corporation is a mortgage broker headquartered in Fairfax, Virginia, serving the borrowing needs of customers located in the mid-Atlantic and southern states.
The HarmonyLoan, developed by Mortgage Harmony Corp., allows borrowers to quickly and easily adjust their interest rates as the market changes, taking advantage of lower interest rates without the expense and hassle of a traditional refinance or new mortgage. They can lower their rate as often as every 120 days with a click of a button, assuming their payment history is solid.
“This agreement is highly unique,” said Keith Kelly, CEO, Mortgage Harmony Corp. “Mortgage Harmony has brokered an arrangement between McLean Mortgage and the ultimate end investors that will enable McLean Mortgage to provide the HarmonyLoan to its customers. There are numerous correspondent lenders that would like to offer the HarmonyLoan, but need an outlet to be able to do so. McLean Mortgage is blazing a trail for other correspondent lenders to follow.”
Mortgage Harmony’s mission is to create innovative mortgage products that bring greater continuity to all parties in the process and minimize the lender's timeline between product development and launch to homebuyers. The HarmonyLoan removes the costly inefficiencies of the mortgage process and affords greater economic security. Homebuyers can quickly and easily reset their HarmonyLoan by accessing HarmonyLoan CentralTM , a state-of-the-art, 24/7 web-based interface and using the One-Click Rate ChangeTM. Upon resetting, they have the advantage of an at-market interest rate. The engineering of the private label website is designed to provide constant contact between the borrower, real estate agent and loan officer. Mortgage professionals can now stay in front of the customer for the life of the loan.
“Today’s mortgage lending environment is highly competitive and rapidly shrinking,” said James Nader, Vice President, Secondary Marketing for McLean Mortgage. “In order to gain market share and expand brand awareness, we look for niches that set us apart from the competition. The HarmonyLoan provides McLean Mortgage Corporation continued stability in an ever-changing landscape. Our sales professionals now have an incredible product offering to provide their referral partners, which dramatically increases our exposure within the marketplace.”
“The ability to offer the HarmonyLoan has given us an instant competitive advantage,” said Nathan Birch, Chief Executive Officer of McLean Mortgage. “The Mortgage Harmony platform provides us with a private label website that is customized for each of my Loan Officers, complete with their photograph and contact information, which they can use to demonstrate the HarmonyLoan product to realtors and builders. This ground-breaking tool opens doors that were tightly shut in the past.”
About Mortgage Harmony Corp.
Mortgage Harmony Corp. designs, develops and distributes innovative residential mortgage products for mid-size and large banks, credit unions and mortgage companies. Its mission is to create products and services that properly align the economic incentives of all participants of a mortgage transaction and bring long-term stability to the housing finance industry. For more information on Mortgage Harmony and the HarmonyLoan, please visit http://www.mortgageharmony.com.
About McLean Mortgage Corporation
McLean Mortgage Corporation is a mortgage broker headquartered in Fairfax, Virginia serving the borrowing needs of customers in Delaware, Maryland, North Carolina, Virginia, Washington, DC and West Virginia. For more information, please visit http://www.mcleanlending.com.