RenovationReady® Selected to Provide FHA 203(K) Fulfillment Services for Impac Correspondent Lending Customers

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Specialized Services Helps Lenders Originate and Fund Rehabilitation Loan Programs

203k Loan and Rehab Loan Specialists

203k Loan and Rehab Loan Specialists

RenovationReady®, a national residential real estate service provider, announced today that they have been selected to provide processing and loan administration fulfillment services for IMPAC Correspondent Lending’s (“IMPAC”) expansion of services. IMPAC notified approved correspondent sellers that, effective immediately, full underwriting services for FHA 203(k) Standard and FHA 203(k) Streamline loans is available and will require oversight of the rehabilitation process by RenovationReady®.

RenovationReady® has been providing pre-close processing and post-close loan administration on FHA 203(k) production for IMPAC’s retail and correspondent origination channels since June, 2012. “Our working relationship with IMPAC has steadily grown as they continue to roll-out program enhancements to attract renovation loans, helping borrowers rehabilitate homes in purchase and refinance transactions”, stated Jim Fraser of RenovationReady®.

RenovationReady® and IMPAC Correspondent Lending have many common customers including regional and national independent mortgage bankers, banks, and credit unions. These lenders have engaged RenovationReady® to provide a full range of bundled specialty services focused on FHA and FNMA renovation loan programs. Specialized services include:

  •     Consumer and Real Estate Professional Marketing Support and Product Promotion
  •     Sales Force Education, Training, and Transaction Scenario Review
  •     Specialized Co-Processing By Highly Trained Transaction Coordinators Dedicated Exclusively to FHA and FNMA Renovation Loans
  •     Post-Close Borrower and Contractor Loan Administration, Fund Control, and Draw Processing
  •     Rehabilitation Escrow Account Management, Accounting, Tax Reporting, and Qualitative Assessments
  •     Renovation Loan Audit and Consulting Services

For more information regarding RenovationReady®’s services, please contact Patricia Ropers at (303) 925-2001 or patricia(dot)ropers(at)renovationready.com.

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RenovationReady® helps real estate professionals and buyers to evaluate and make purchasing decisions on properties. Through a turn-key model of inspection, qualification, and certification, RenovationReady® ensures that each property’s unique needs are addressed, the best loan for that home is provided, and the repair process is completed. RenovationReady® and their principals have shared experience in managing the nation’s largest consumer construction and home improvement platforms for lenders, banks, and government agencies. http://www.renovationready.com

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Patricia Ropers
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