ANN ARBOR, Mich., Jan. 14 /PRNewswire/ -- InterFirst Wholesale Mortgage
Lending, a division of ABN AMRO Mortgage Group, Inc., and one of the nation's
top wholesale lenders, recently began offering mortgage brokers its OneFee(SM)
"Pricing Tool Only." An expansion of InterFirst's guaranteed OneFee(SM)
mortgage package program, Pricing Tool Only enables mortgage brokers to
produce unique guaranteed mortgage packages using local settlement service
providers.
Brokers utilizing InterFirst's Pricing Tool Only select their own
settlement service providers and negotiate the associated settlement service
costs. Pricing Tool Only enables brokers to manage their third-party vendor
services from the time of the mortgage loan application through the closing
and funding. Previously, mortgage brokers were subject to third-party service
providers and costs negotiated by InterFirst.
"InterFirst is committed to providing mortgage brokers with the tools they
need to effectively compete in a changing mortgage market," said InterFirst
senior vice president Fran Clemens. "Pricing Tool Only offers mortgage
brokers the best of both worlds, the ability to offer guaranteed mortgage
packages while continuing to work autonomously with their local settlement
service providers."
Mortgage loan costs quoted using Pricing Tool Only are based on
InterFirst's wholesale mortgage products and interest rates, and incorporate
the lender-related costs in the price quote. Mortgage brokers using Pricing
Tool Only add settlement services and other third-party costs they have
negotiated individually to the guaranteed mortgage package quote provided by
InterFirst. With Pricing Tool Only, the mortgage broker assumes any risk that
may be associated with guaranteeing the mortgage costs quoted to consumers at
the time of application.
Pricing Tool Only is powered by InterFirst's online lending portal MOAI
(Mortgages Online at InterFirst). Pricing Tool Only is currently being
offered to mortgage brokers as a pilot program, with plans to make it
available to all InterFirst brokers this year.
InterFirst currently has more than 100 mortgage brokers participating in
its OneFee pilot program. To date, more than 1,650 OneFee mortgages, totaling
over $350 million, have been closed by InterFirst's mortgage broker partners.
About InterFirst Wholesale Mortgage Lending
Headquartered in Ann Arbor, Michigan, InterFirst Wholesale Mortgage
Lending is consistently one of the nation's top wholesale and correspondent
lenders. From its inception, InterFirst has created and maintained its
position as an innovative market leader by responding to the needs of its
customers with personalized service, training, and marketing support.
InterFirst Wholesale Mortgage Lending is a division of ABN AMRO Mortgage
Group, Inc.
About ABN AMRO Mortgage Group, Inc.
ABN AMRO Mortgage Group is the sixth largest loan originator and loan
servicer in the United States. ABN AMRO Mortgage Group produces mortgage
loans and provides related services through its various divisions. ABN AMRO
Mortgage Group has approximately 3,000 employees located throughout the United
States.
About ABN AMRO
Netherlands-based ABN AMRO is a leading international bank with total
assets of approx. EUR 556 billion. It has over 3,000 branches in 66 countries
and territories, and has a staff of about 105,000 full-time equivalents
worldwide.
SOURCE InterFirst Wholesale Mortgage Lending
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Related links:
http://www.abnamro.com
CONTACT:
Jenn Cornell of Eiler Communications,
+1-734-761-3399, or Jenn@EilerPR.com , for InterFirst Wholesale
Mortgage Lending
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