ANN ARBOR, Mich., June 17 /PRNewswire/ -- InterFirst Wholesale Mortgage
Lending, (a division of ABN AMRO Mortgage Group, Inc.), has announced the
latest series of sales milestones that the company and its pilot brokers have
reached with the "OneFee(SM)" guaranteed mortgage packaging initiative.
The pilot program, launched earlier this year, has now surpassed 500
OneFee broker originations, with more than 100 loans closed and a pipeline
exceeding $100 million. According to the company, this demonstrates that
InterFirst's technology can enable mortgage brokers to be successful in
delivering guaranteed mortgage packages to consumers.
"We're very excited about extending our mortgage package enablement
capabilities built over the last two years to the broker channel," said
InterFirst president William Newman, referring to ABN AMRO Mortgage Group,
Inc.'s closing of more than 100,000 "Guaranteed OneFee(SM) Mortgage" packages
through its retail channels.
"It's clear that consumers want, and need, a simplified mortgage pricing
process that allows for more informed comparison shopping and the elimination
of unexpected fees at closing," Newman continued. "Our intent is to ensure
that mortgage brokers are equipped with the tools to compete on a level
playing field in the packaging marketplace."
InterFirst has now launched Phase 3 of its pilot broker program. With
Phase 3, brokers in Texas, Georgia, and Minnesota join Phase 1 and Phase 2
brokers in states including Virginia, California, Florida, Michigan, Illinois,
Arizona and Colorado in offering OneFee guaranteed mortgage packages to
consumers.
Pilot program participant Mark Kittrell, president of Liberty Mortgage in
Richmond, VA, said that, "Being a part of the InterFirst OneFee broker pilot
program has been an extremely valuable experience because it has allowed for
hands-on experimentation with the technology -- and sales and operational
philosophies -- that are needed to compete in the packaging marketplace.
"It's shown that we can provide borrowers with a new level of
satisfaction," Kittrell explained, "while at the same time allowing Liberty to
achieve the margins that its business plan demands."
Like the other brokers in the OneFee pilot program, Kittrell and his staff
are becoming familiar with how to use InterFirst's online pricing tool
technology. The OneFee pricing tool allows a broker's Loan Officers to
quickly and easily provide each consumer with a personalized OneFee package,
providing a rate and fee that are guaranteed at the time of rate lock. This
provides a guarantee for the consumer and protects the broker's profit margin.
Newman observed that the benefits of the broker pilot program are twofold:
"The pilot program gives our broker customers the competitive advantage of
leading edge packaging experience, and helps them plan for the future.
"At the same time," Newman added, "it allows us to learn as much as
possible about how the OneFee functions in a broker environment, so that we
can further adjust our wholesale service offerings to best suit the unique
needs and goals of the broker community."
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 fifth largest loan originator and seventh
largest loan servicer in the United States. ABN AMRO Mortgage Group produces
mortgage loans and provides related services through its various divisions and
affiliates including InterFirst Wholesale Mortgage Lending, LaSalle Home
Mortgage, ABN AMRO Mortgage, ABN AMRO Mortgage National Lending Center, ABN
AMRO Apartment Lending, ABN AMRO Mortgage Capital Markets, Standard Federal
Bank Retail Lending and LaSalle Bank Retail Lending. ABN AMRO Mortgage Group
has more than 3000 employees located throughout the United States.
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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