home loans – mortgage refinance second mortage

August 18, 2011

Interest Only Home Equity Loans Featuring a Fixed Second Mortgage Rate from BD Nationwide

Filed under: Second Mortgage — Tags: , , , , , , , , , , , — admin @ 6:32 am


Interest Only Home Equity Loans Featuring a Fixed Second Mortgage Rate from BD Nationwide

Encinitas, CA (PRWEB) December 13, 2006

BD Nationwide Mortgage introduces an affordable home equity loan that features an interest only payment option with a fixed rate. This second mortgage allows borrowers to get a fixed mortgage rate while also benefiting from a reduced payment and increased cash flow. Homeowners have the luxury of converting their home equity line of credit into a fixed rate second mortgage while keeping the interest only option. BD Nationwide has released several new second mortgage products in 2006 that have offered additional “cash out” opportunities for homeowners without requiring them to refinance their existing first mortgage.

BD Nationwide proudly presents the “Interest Only Fixed Rate Home Equity Loan.” This unique second mortgage program allows homeowners to maintain the affordibilty of interest only payments but also have the security of a fixed interest rate. Interest only loan options are available with home equity credit lines and second mortgage HELOC conversion up to 100% combined loan-to-value. Borrowers can choose from 3,5 or 7 year fixed rate equity loan terms. The 125% second mortgage product does not offer interest only payment features at this time.

Advances for fixed second mortgage rates can be requested at anytime during the ten-year draw period: Three fixed rate advances may be open at any one time. The conversion feature limits you to a total of eight fixed rate advances may be requested over the draw period. In addition, there are no lending fees to convert to a fixed rate. Loan advance options are based on the balance requested.

Brendon Daly, a Sr. Loan Officer at BD Nationwide Mortgage, said, “This is an affordable home equity loan that enables my clients to preserve their cash flow when they need to, because borrowers can choose between the affordable interest only payment or the fully-indexed payment that pays down both principal and interest on the 2nd mortgage.” Daly continued, “These days I find the demand for consolidating credit card debt is rising, and these second mortgages offer the means to reduce interest rates and get debt paid off quicker.”

The Interest Only Fixed Rate Home Equity Program enables borrowers to refinance their credit lines, and convert variable rate home equity into a fixed rate 2nd mortgage. This interest only home equity loan is a great solution for borrowers in a money crunch. This unique 2nd mortgage offers the fixed rate that many borrowers need to go to sleep at night, while offering a low payment solution for a few years. The interest only home equity loan is available for both refinance and purchase transactions. BD Nationwide Mortgage Company has partnered with many of the nations leading home equity lenders in efforts to provide premium second mortgage products.

Second Mortgage Programs: Borrowers choose from fixed rate terms and HELOC conversions: 10 to 30-years. Home equity line of credit rate is a variable rate ( WSJ prime interest rate index plus margin) Home Equity Loans :Terms range from 15, 20, 25 or 30-year terms. Second mortgage rates are fixed interest rates (fixed interest based on market conditions on the conversion date)

Consumers searching for current interest rates, should visit: Home Equity Credit Line Rates. Borrowers may request a fixed rate advance after the close of escrow.Take advantage of interest only payment features with fixed-rate 2nd mortgages that provide reduced payment options for the initial fixed rate period. To learn more and get additional home equity tips from the 2nd mortgage experts, please visit: BD Nationwide Mortgage Company Online.

About BD Nationwide Mortgage Company:

BD Nationwide Mortgage is a home equity loan broker with corporate headquarters in Southern California. They specialize in refinance, second mortgages, 125% home equity loans and credit lines for homeowners seeking lower payments and cash out. The company focus remains solidified with refinancing and 2nd mortgages for people with all types of credit. Always striving to offer “out of the box” loans, BD Nationwide Mortgage is determined to help expand financing solutions so more Americans can maximize the financial rewards of being a homeowner.

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Vocus©Copyright 1997-

, Vocus PRW Holdings, LLC. Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.



August 12, 2011

BD Nationwide Mortgage Introduces the Second Mortgage that Requires NO Appraisal for Home Equity Loans to 125% and Refinancing Credit Lines

Filed under: Second Mortgage — Tags: , , , , , , , , , , , , — admin @ 2:33 pm


BD Nationwide Mortgage Introduces the Second Mortgage that Requires NO Appraisal for Home Equity Loans to 125% and Refinancing Credit Lines

Encinitas, CA (PRWEB) November 6, 2006

BD Nationwide Mortgage introduces the “Fast Fund Second Mortgage Loan” that requires no formal appraisal. The latest second mortgage product from BD Nationwide reduces the funding times for home equity loans, because underwriting accepts an automated value model rather than an URAR or 2055 appraisal that requires a licensed appraiser to visit, survey, and appraise a property and the comparable properties. The average full appraisal or drive by typically takes 7 to 10 business days to complete from the time the loan officer or mortgage broker orders the appraisal. Most of the AVM models accepted with these second mortgages takes the loan officer about 20 seconds to complete for most properties. Besides increasing the efficiency of the loan process, this “Fast Fund Second Mortgage” program reduces the loan costs $ 300 to $ 500 per loan, depending on the state.

According to Brendon Daly, a financing consultant with BD Nationwide Mortgage, “The AVM ‘s seem to be approved with the home equity lenders for this 2nd mortgage product about 60% of the time.” Daly continued, “This is a great added-value service for homeowners looking for a cash out by means of a second mortgage or home equity line of credit. The AVM eliminates about 10 days of the home equity loan process by waiving the formal appraisal. This really relieves the stress level for many borrowers that comes with the territory, when the appraiser comes to evaluate your home during this declining real estate market.

According to Citibank executive, Jim Markham, “Having the ability to use the AVM model is a Win-Win scenario for mortgage brokers and homeowners across the country. Mortgage brokers can increase their second mortgage volumes and borrowing consumers benefit from reduced costs and quicker loan processing cycles. BD Nationwide and participating home equity lenders are releasing more 2nd mortgage and refinance products with underwriting guidelines enabling the use of these statistical appraisals that calculate the home values online simultaneously with credit reports.

At this time, BD Nationwide also provides fixed rate home equity loans to 125%, prime rate equity lines of credit, and sub-prime second mortgages for people with lower credit scores and past late payments, collections or bankruptcies.

Lynda Nelms, a Senior loan officer at BD Nationwide, noted that the automated 125 home equity loan soothes many of my clients who want to consolidate debt or get access to cash but might be concerned about declining property values.” The AVM does not work for every home loan, but when the value is acceped, the second mortgage process is significantly streamlined. Homeowners prefer having the ability to use their home equity and this 2nd mortgage loan helps make home improvement financing quick and easy. According to Nelms, “The process for 125 loans can be a stressful time for many borrowers who are seeking cash out quickly.” Having the opportunity to increase the efficiency of loan processing is good for our business and convenient for consumers who are taking advantage of home equity refinancing.”

BD Nationwide Mortgage recommends consumers should go online and indulge themselves with additional refinancing advice from experienced second mortgage brokers. Start by getting yourself familiar with how home equity loans work, and figure out which types are best for your goals and qualifications. BD Nationwide strongly recommends working with loan officers who comprehensively understand stand-alone home equity loans and 125% second mortgages. This loan broker urges you to align yourself with competent council for subordinate financing with credit qualifications for second mortgages lenders. Consumers searching for current interest rates, should visit: Home Equity Loan Rates.

About BD Nationwide Mortgage Company

BD Nationwide Mortgage is a second mortgage broker from Southern California who specializes in home equity loans and debt consolidation. The mortgage broker offers cutting edge loan products for refinance, second mortgages, home credit lines, and jumbo purchase loans. The company continues to promote second mortgage loans with added value options for people with good and bad credit. Always striving to offer “out of the box” loans, BD Nationwide Mortgage is committed to expanding home financing solutions so that more Americans can maximize the financial rewards of being a homeowner in the United States.

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Vocus©Copyright 1997-

, Vocus PRW Holdings, LLC. Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.



June 14, 2011

BD Nationwide Mortgage Introduces a Second Mortgage and Home Equity Loan Compatible with the Controversial “Pick a Payment Loan” Featuring a Negative Amortization Option

Filed under: Second Mortgage — Tags: , , , , , , , , , , , , , , — admin @ 2:36 am


BD Nationwide Mortgage Introduces a Second Mortgage and Home Equity Loan Compatible with the Controversial “Pick a Payment Loan” Featuring a Negative Amortization Option

Encinitas, CA (PRWEB) September 24, 2006

BD Nationwide Mortgage introduces a break-through second mortgage loan that is compatible with payment option first mortgages featuring options for fixed rate, interest only, and the controversial negative amortization. BD Nationwide is excited to release the “Neg-Am Compatible Second Mortgage Loan.” This unique home equity loan product allows homeowners to qualify for a cash-out second mortgage while keeping their existing payment option loan. This revolutionary equity loan can be subordinated to 100% combined loan to value behind a negative amortization existing first mortgage. This new home equity feature opens the doors for many homeowners who have found it very difficult to get a second mortgage or home equity loan behind any mortgage that has a negative amortization.

Payment option loans have been controversial in the mortgage industry because they are attached to volatile indexes in which the interest rates can adjust rapidly and the borrowers can find their mortgage payment increasing 100% to 200%. Mortgage product analyzers point out that default ratios may increase significantly with these risky loans that allow borrowers to choose their payment each month. Most traditional home equity lenders are weary of offering second mortgages behind this type of loan, because with negative amortization, the interest is deferred and added to the balance of the consumers principal balance at the end of the year. This concerns most mortgage lenders and banks because these consumers have rising mortgage balances rather than the decreasing mortgage balances that traditional principal and interest home mortgages have.

Unfortunately there are too many loan officers that are not properly placing the payment options loans with the right borrowers. Too often the option ARM is offered to borrowers who are trying to increase their home purchase power because initially these loans offer interest rates as low as 1.25 percent and the borrower qualify for a home that would normally be out of their price range. Unfortunately we find that these same homeowners do not have a plan for paying their mortgage when the rate adjusts back to a fully indexed payment. BD Nationwide Mortgage found that borrowers were rarely informed when they financed their home about the potential difficulties for qualifying for a second mortgage behind a negative amortization1st mortgage.

According to IHE executive, Sandy Sarconi, “Adding a home equity loan to a negative amortized 1st mortgages increases the risk factor and most lenders will not allow subordinate financing with payment option mortgages.” BD Nationwide Mortgage is one of the few lending brokers to offer second mortgages behind neg-am loans and payment option 1st mortgages. Even if a borrower is deferring the interest on their first mortgage now, BD Nationwide can help you find a great second mortgage. The mortgage broker offers 2nd mortgages for people with good and bad credit scores ranging from 500-800. BD Nationwide also provides prime rate home equity loans, as well as non-prime second mortgages for people with past late payments, collections or bankruptcies.

Brendon Daly, a Mortgage Consultant at BD Nationwide, said, “This second mortgage enables my clients to get additional cash out of their home without refinancing their current mortgage.” According to Daly, “The payment option loans were designed for the self-employed borrower with cash flow obstacles as well as savvy investors who are freeing up funds to buy more properties.” Daly continued, “These types of borrowers are more likely to use their home equity and take out a second mortgage to raise cash. Being able to offer this 2nd mortgage product to my borrowers may create new opportunities because their are less lending restrictions.”

BD Nationwide Mortgage suggests going online and getting additional advice from experienced mortgage brokers. Start with reading the relevant loan articles. The company also recommends to research loan program parameters and credit qualifications for sub-prime credit second mortgages. Consumers searching for current interest rates, should visit: Home Equity Loan Rates.

About BD Nationwide Mortgage Company

BD Nationwide Mortgage is a second mortgage broker from Southern California who specializes in home equity loans and debt consolidation. They offer cutting edge loan products for refinance, second mortgages, home credit lines, and jumbo purchase loans. The company continues to promote second mortgage loans with more options for people with all ranges of credit. Always striving to offer “out of the box” loans, BD Nationwide Mortgage is determined to help expand home financing solutions so more Americans can maximize the financial rewards of being a homeowner.

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Attachments





Vocus©Copyright 1997-

, Vocus PRW Holdings, LLC. Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.



May 6, 2011

Nationwide Loan Processing Company Now Servicing FHA Loans

Filed under: Mortgage Loans — Tags: , , , , , — admin @ 8:37 pm


Nationwide Loan Processing Company Now Servicing FHA Loans

Valparaiso, IN (PRWEB) December 9, 2006

American Services Network has specialized in mortgage processing for Conventional, Sub-prime, and VA loans over the last decade. Looking to expand its expertise and provide mortgage loan processing to a great number of mortgage lenders, American Services Network has invested in the necessary mortgage loan processing training and education to process FHA loans with excellence.

American Services Network has made a conscious effort to increase its staff with and additional mortgage processor specializing in FHA loans. Although there is added work in processing FHA mortgage loans because of extra requirements and restrictions, American Services Network has kept their pricing structure the same, regardless of mortgage loan type.

Since its inception, American Services Network has worked hard to service mortgage lenders to the fullest extent. American Services Network’s team of professional mortgage loan processors go the distance to get lenders’ clients approved and mortgage loans to close in a smooth, streamlined manner. Through its expertise in mortgage processing, American Services Network prides itself on maximizing mortgage lenders’ time and profitability. Now American Services Network can keep loan officers from spending money on in-house mortgage processors for FHA loans — one of the most time-consuming mortgage loan types to process — all for less.

For all your FHA mortgage processing needs, American Services Network is pleased to be able to service your needs with ease.

To find out more about American Services Network, please visit http://www.american-services.net

About American Services Network

Valparaiso, In.-based American Services Network is one of the nation’s leaders in providing mortgage loan processing services. Using twenty years of mortgage processing experience, American Services Network takes mortgage loans from application to close, supporting mortgage brokers and mortgage lenders in closing mortgage loans more accurately and quickly. With its in-depth knowledge of all mortgage loan types and commitment to the latest technology, American Services Network partners with mortgage lenders to process mortgage loans with ease.

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Vocus©Copyright 1997-

, Vocus PRW Holdings, LLC. Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.



May 1, 2011

BD Nationwide Mortgage Offers a Convertible Home Equity Line of Credit with Options to Refinance Portions to a Fixed Rate Second Mortgage Loan

Filed under: Home Loans — Tags: , , , , , , , , , , , , , , — admin @ 4:33 am


BD Nationwide Mortgage Offers a Convertible Home Equity Line of Credit with Options to Refinance Portions to a Fixed Rate Second Mortgage Loan

Encinitas, CA (PRWEB) August 29, 2006

BD Nationwide Mortgage introduces a smart home equity loan that can separate into several loans with both fixed and adjustable rates. BD Nationwide has released a new home equity product that boasts of a convertible home equity line of credit offering options for turning variable interest rates into fixed rate second mortgages. BD Nationwide proudly presents the “Fixed Rate HELOC Conversion Program.” This unique home equity program allows homeowners to convert portions of their adjustable rate equity line into fixed rate home equity loans. Another key feature is that these second mortgages allow you to keep the unused portion of the home equity line open, while fixing the interest rate for the specified portion. In that sense, the HELOC splits into two loans. (one loan is a fixed lump-sum loan and the other is an open end line of credit)

Conversion options are available to convert a portion or all of the home equity line balance to a fixed interest rate home equity loan. This program allows you to convert HELOC portions to fixed rate loan eight times during the draw period.

Advances for fixed second mortgage rates can be requested at anytime during the ten-year draw period: Three fixed rate advances may be open at any one time. The conversion feature limits you to a total of eight fixed rate advances may be requested over the draw period. In addition, there are no lending fees to convert to a fixed rate. Loan advance options are based on the balance requested.

Lynda Nelms, a Sr. Loan Officer and Mortgage Consultant at BD Nationwide, said, “This is a progressive loan that allows my borrowers to be savvy using their home equity when they see fit, while converting adjustable rate interest into a fixed rate second mortgage with a simple interest amortization.” Nelms continued, “These days I find homeowners need cash out for debt consolidation or home improvements, but they already have a large second mortgage.”

The Fixed Rate HELOC Conversion Program enables our clients to refinance and convert their existing line of credit into a fixed rate second mortgage, while opening up an additional revolving credit line they can access later. This home equity conversion loan is a great solution for the recent dilemma of refinancing jumbo home equity loans that seem to be so common with million dollar homebuyers. BD Nationwide Mortgage Company has partnered with many of the nations leading home equity lenders.

Home Equity Line of Credit Draw Period : 10 years
Second Mortgage Rate is a Variable Rate ( WSJ prime interest rate index plus margin)

Home Equity Loan Terms: 15, 20, 25 or 30-years
Second mortgage rates are fixed interest rates (fixed interest based on market conditions on the conversion date)

Home Equity Loan Repayment Terms:
Borrower may request a fixed rate advance from the customer pitied dept. after the lender funds the loan.

Fixed Rate Advance Option: Fixed-rate advance options can initially be requested by loan officer at the time of disclosures.

To learn more and get additional loan information, please visit: Second Mortgage & Home Equity Loans

About BD Nationwide Mortgage Company:
BD Nationwide Mortgage is a back mortgage broker with corporate headquarters in Encinitas, California. They specialize in refinance, home equity loans and credit lines for homeowners seeking debt consolidation or cash out. The company focus remains solidifying with indorse mortgages for people with all types of credit. Always endeavoured to hook “disclose of the box” loans, BD Nationwide Mortgage is set to help expand financing solutions so more Americans can maximize the financial rewards of being a homeowner.

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Attachments



Vocus©Copyright 1997-

, Vocus PRW Holdings, LLC. Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.



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