Midwest Mortgage Capital Reports Expansion and National Growth

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Company Focuses 2013 on Exceptional Service and Enhancing Member Office Program as Mortgage Industry Faces Increasing Challenges

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This type of set up gives us the ability to retain as much control over each transaction as possible and allows us to close loans from start to finish in 2 weeks

While interest rates have bottomed out and slowly begun to rise, Midwest Mortgage Capital envisions a strong 2013 and has announced its plans to continue to grow its affiliate program. A St. Louis based lender, Midwest Mortgage Capital offers the best programs in today’s marketplace. As a lender with delegated authority and a Full Eagle from HUD the processing, underwriting, closing, and funding for all FHA, VA, Conventional, Jumbo, and USDA loans take place under one roof. “This type of set up gives us the ability to retain as much control over each transaction as possible and allows us to close loans from start to finish in 2 weeks,” says George DeMare, Managing Partner, Midwest Mortgage Capital. Over the last decade, the company has grown to one of the largest independent mortgage bankers, now doing business in more than 15 states. Part of the growth of the company can be attributed to its Member Office Program, an affiliate network of established brokerages, small lenders, and originator teams.

“Events of the last few years in the housing market have shaken the mortgage industry in ways few people anticipated,” said Jerry Frost, President, Midwest Mortgage Capital. “Highly successful mortgage professionals, brokers, and lenders are all wrestling with new mortgage requirements, loan guidelines, Dodd-Frank rules, compensation changes, and the uncertainty of the provisions behind a qualified residential mortgage.”

Formed in St. Louis, Missouri in 2001, Midwest Mortgage Capital focused on bringing better customer service, accountability and philanthropy to the mortgage industry. Since 2001, Midwest Mortgage Capital has funded over $5 billion in home loans.

The implementation of its Member Office Program started in 2012, with the concept that forming strategic partnerships around the country with the right individuals and making the program resemble a boutique style operation, would give Midwest a competitive advantage over other branch models. DeMare says, “Many of our competitors have added so many branches that they have lost sight that the individuals running these branches have now become simply branch numbers and one on one relationships they once enjoyed with senior level management have been lost. This is what makes our boutique style attractive to many people.” DeMare goes on to say, “We are not looking to be the largest independent mortgage banker in the market, but we want to provide the best service to our affiliate partners that is possible.”

The Member Office Program offers: flexible compensation, unique marketing opportunities, and they are offered continued training and support from Midwest Mortgage Capital corporate offices. Affiliates are kept up to date on the latest loan programs and technology; compliance and new industry regulations; and receive full scenario support with an online underwriting and IT helpdesk. Extensive sales and marketing tools along with a cutting edge web based loan origination system and CRM round out the tools that are provided.

Midwest Mortgage Capital will provide the background and infrastructure which will include handling all compliance and state audits, preparing payroll, offering group health/vision/dental and life insurance as well as providing each affiliate with an internal liaison located at the Corporate Headquarters. As Members become accustomed to our program, they will see an increase in their volume because they can now focus on building/maintaining their client base and helping consumers achieve the dream of homeownership.

As a Member Office, affiliates may originate all conventional products, including Fannie Mae HomePath and HARP loans, Veterans Affairs (VA), Federal Housing Administration (FHA), Reverse Mortgages, State bond issue programs (MHDC, IHDA), including cash assistance, USDA Rural Development Guaranteed Housing, and Jumbo Loans.

About Midwest Mortgage Capital:
Midwest Mortgage Capital (MMC) was founded in 2001 in St. Louis by industry veterans that wanted to challenge how traditional mortgage companies do business by better educating and empowering their clientele. Wanting to retain as much control over each of its transactions as possible, MMC quickly gained the ability to originate and underwrite a wide array of loans in-house and delivered superior service and turn times to it’s originators. For more information about the company and its Member Office Program, visit http://www.midwestmortgagecapital.com or call (800) 803-9910.

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William Kay
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