International City Mortgage Announces New Fannie Mae Direct Product

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International City Mortgage, a residential mortgage direct lender since 1987 and approved Fannie Mae Seller/Servicer, announces the release of its new service retained Fannie Mae home loan product.

International City Mortgage (ICM) today announced the release of “ICM Fannie Mae Direct,” its new Conventional service retained home loan product.

“Being a Fannie Mae approved Seller/Servicer is taking International City Mortgage to the next level,” said Cory Hjelmeir, ICM Vice President of Production. “We are pleased to offer a true ICM Conventional product that will give us a competitive advantage in the marketplace.”

ICM Fannie Mae Direct product highlights are as follows: streamlined process, competitive pricing, property flipping okay, up to 10 financed properties allowed, minimum 680 FICO, and maximum 80% LTV/CLTV. Additional loan parameters follow DU/Fannie Mae Guidelines.

Even though the company reported record loan production in 2011, ICM believes the release of its own service retained Fannie Mae product will drive loan volume to new heights. “We’re excited about the great potential for growth with this product and look forward to another record year,” said Hjelmeir.

“Successfully completing the rigorous Fannie Mae approval process has elevated ICM into the next echelon of mortgage bankers and will fuel our Conventional product offering for years to come,” added Hjelmeir.

About International City Mortgage
International City Mortgage (ICM) is a privately held residential mortgage banking direct lender. Founded in 1987 on the principles of responsible lending, competitive rates, and exceptional service, they have successfully weathered mortgage industry cycles and are positioned for sustained growth. Their 21 retail branch locations are focused primarily on purchase transactions, which are generated from strong relationships with Realtors and Builders. They offer a wide range of financial solutions for homebuyers and homeowners, including the top Conventional, FHA, VA, USDA, Jumbo and Bond products available within the industry today. Loans made or arranged pursuant to California Department of Corporations Residential Mortgage Lenders License #4130570, NMLS-DOC: 222730, HUD Mortgagee #7906300005, Illinois Residential Mortgage License #MB.6760856, and Nevada Mortgage Banker License #3795. ICM’s business services and products do not originate from HUD, FHA, the Government of the United States, or any Federal, State or local government agency. For more information, please visit the Company website at http://www.icitymortgage.com.

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