We have always prided ourselves on our ability to service in an extremely proficient manner, enabling borrowers to close their loans as quickly as they desire.
Garden Grove, CA (PRWEB) November 09, 2012
All Reverse Mortgage Company can now offer its customers greater efficiency and flexibility after being approved by the Department of Housing and Urban Development (HUD) to transition from reverse mortgage broker to direct endorsement lender.
The Federal Housing Administration (FHA) has authorized the Garden Grove, Calif.-based company to approve loans for the FHA-insured home equity conversion mortgage (HECM) program without needing to first submit the loan to the agency, allowing for a quicker timeline to close a reverse mortgage.
“This has been the plan from the day we started the company,” said Cliff Auerswald, president of All Reverse Mortgage Company, of becoming a direct lender.
Now that the company has successfully achieved its goal, it is looking forward to helping a broadening customer base.
“Borrowers will benefit from the greater flexibility we will have as direct lenders,” he says. “That flexibility will be evident in the pricing and the service we will be able to deliver to the customers.”
As a direct lender, All Reverse Mortgage Company will be able to help its customers in a few different ways, especially in controlling the timeline for taking out a reverse mortgage loan.
“We have always prided ourselves on our ability to service in an extremely proficient manner, enabling borrowers to close their loans as quickly as they desire,” says Auerswald. “Having direct access to the HUD systems and each facet of the lending process allows us to keep their loans flowing regardless of other lenders' snags and delays.”
Over the next 24 months, All Reverse Mortgage Company is expecting to quadruple its production and will be adding sales and support staff to accommodate that goal. The company is seeking a sales staff that is customer-oriented and knowledgeable in the reverse mortgage product.
“The sales staff we bring on must be experienced and must always understand that we provide a lending product that has to be right for the individual borrower. It's not a one-size-fits-all proposition,” says Auerswald.
All Reverse Mortgage Company currently lends in 14 states and in the U.S. Virgin Islands, and has targeted about a dozen more states it wants to serve in the next 12 to 18 months.
Ultimately, though, the company is focused on providing the best possible service for borrowers, says Auerswald.
“It is more important that we do it right rather than do it big—and that means right for our customers and for the company longevity,” he says.
All Reverse Mortgage is a family owned reverse mortgage company with 100 years of combined experience in mortgage banking. We have been instrumental in educating some of the largest banks on the nuances of the reverse mortgage products, and their benefits to senior homeowners.
We maintain an A+ exemplary rating by the Better Business Bureau and are proud members of the National Reverse Mortgage Lenders Association. As a NRMLA member we abide by a Code of Ethics & Professional Responsibility in which we pledge to serve all borrowers with integrity.
Visit us online at http://www.allrmc.com.