This is a win-win for our client base by improving our application-to-funding time in most cases as much as 34% with an affordable pricing model that puts us on par with the market
Woodland Hills, CA (PRWEB) May 20, 2015
Peak Finance Company (http://peakfinanceco.com), one of the Peak entities, announced today completion of its two year strategic plan for conversion to mortgage banker with the acquisition of its third warehouse line of credit facility. Peak Finance Company is fully operational to offer competitive pricing in class with conventional lenders. According to Rick Knox, Director of Mortgage Sales for Peak Finance Company, “This is a win-win for our client base by improving our application-to-funding time in most cases as much as 34% with an affordable pricing model that puts us on par with the market.”
The transition from mortgage broker to mortgage banker began in the third quarter despite a flurry of post-mortgage crisis regulations imposing new constraints on the conventional mortgage broker standard. Knox believes that the organization is now fully equipped to operate as a direct lender, and to reach the even broader first-time home buyer market as well as current homeowners looking to take advantage of a stronger economy and low interest rate environment. “Peak Finance Company will be doing its part to connect borrowers left out of the loan process with the right products.”
Gil Priel, co-founder, Managing Director, and Principal of the Peak entities, believes Peak Finance Company has shown fine progress in the transition from Mortgage Broker to Mortgage Banker. Priel is confident the conversion can establish Peak Finance Company as one of Southern California’s premier lenders. As real estate agents and borrowers become further acquainted with Peak Finance Company’s expanded services, Priel believes successful results will follow. “Change is not easy, but is essential for a mortgage company to survive today. We commend the Peak Finance Company team for making the leap into mortgage origination a seamless process.”
According to Peak, 1st quarter residential loan volume for 2015 is 25% higher than Q1 of 2014, with nearly 90% of its loans originated through its warehouse lines. To garner more leads and reach an even wider market, Peak Finance Company has launched an in-house live call center to increase volume. This addition allows Peak Finance Company to compete with other direct lenders with similar lead generation strategies. “We’ve established our call center with a top-notch team of associates that are well-versed with the breadth of mortgage products we have access to,” comments Knox. “They have demonstrated great value by increasing our production and providing affordable mortgages to borrowers needing solutions conventional lenders can’t offer.”
Peak Finance Company is one of the entities in the Peak Corporate Network, headquartered in Woodland Hills, California. In addition to residential real estate brokerage services, the Peak Corporate Network group of companies provides commercial brokerage services, mortgage financing, insurance services, loan servicing, escrow services, short sales, foreclosure processing and 1031 exchange. For more information, visit http://www.peakcorp.com.
The Peak Corporate Network is a brand that represents a group of related separate legal entities, each providing its unique set of real estate services.