“We are a well-established and stable retail mortgage banker with high standards for loans and loan servicing.This provides predictability and peace of mind to our community bank partners. They know that their borrowers will be well taken care of..."
Plano, TX (PRWEB) April 25, 2012
Guardian Mortgage Company, a boutique local lender that is flourishing in this market environment, today announced that it is extending its highly regarded mortgage loan underwriting and servicing practices to community and smaller banks nationwide as a correspondent lender. The company has brought on Joseph “Joe” Collins, a well-known player in this market, to head up its new line of business out of Guardian’s Plano office.
In Correspondent Lending, an originating lender has the ability to provide financing to borrowers and the funds to do so, but does not want to keep the mortgage in their portfolio. The correspondent lender helps by buying the loan after it is closed. In recent years, the number of mortgage bankers offering this service has dropped dramatically, which provides an opportunity for Guardian Mortgage.
“We are a well-established and stable retail mortgage banker with high standards for loans and loan servicing,” said Mrs. Marcia Phillips, CEO, Guardian Mortgage Company. “This provides predictability and peace of mind to our community bank partners. They know that their borrowers will be well taken care of over the next 15-to-30 years.”
“Guardian Mortgage Company is unique among lenders that I’ve worked with in the past,” said Joe Collins, Director of Correspondent Lending, Guardian Mortgage Company. “Unlike many other correspondent lenders, they are concerned that the borrowers of their originating lenders get a good deal on the loan terms and a more personalized servicing relationship. Guardian lends “to-the-book,” which means there are very few overlays to drive up costs for the end borrower. Guardian can offer such low rates because they service their own loans. This means that the bank partner can offer low rates and excellent servicing to its customers.
“Many banks left the correspondent lending market in recent years because they had poor loan standards and were stuck with bad loans,” added Collins. “Guardian Mortgage has one of the best portfolios in the industry with the lowest rate of bad loans because it maintained its high standards through the heyday of “creative loans.” Its conservative approach in the past puts it in a strong competitive position today that will appeal greatly to community and other small banks.”
Collins has 30 years experience in the mortgage industry with more than 20 of them as a correspondent lender working for such companies as TIB Mortgage, Washington Mutual, GE Capital Mortgage Services, and Nations Bank Mortgage among others. In addition, he has served as a past President of the Dallas Mortgage Bankers Association, Past Director of the Texas Mortgage Bankers Association (TMBA), and is still serving as the Chairman of TMBA’s Annual Convention Golf Tournament.
“We are delighted to have Joe on the team,” said Phillips. “His reputation, decades of mortgage experience and numerous successful relationships in the correspondent market mean that community bankers who work with us can depend on a predictable and excellent experience.”
In addition, the company announced that Carter Glass has joined the company as a compliance officer in its Correspondent Lending Division. Carter has five years experience working for EverBank, TIB and Nationstar Mortgage.
See the company’s press room for Joe Collins’ photo and biography. http://bit.ly/GuardianPressRoom
About Guardian Mortgage
Headquartered in Richardson, Texas, Guardian Mortgage Company, Inc. has been in the mortgage lending and servicing business since 1965. An independently owned and managed company, Guardian specializes in origination and servicing residential mortgages. Guardian has almost $2.5 billion dollars in its servicing portfolio – which translates to over 17,000 current satisfied customers. In addition to offices in Plano, Richardson and Arlington, Texas, it also has offices in Grand Blanc, Mich. Find more information at http://bit.ly/GuardianPressRoom.