Freedom Mortgage's New Financial Institutions Partner Group Exceeds Growth Expectations for 2014
Division launched in early 2014 provides end-to-end mortgage outsourcing, allowing community banks and credit unions to offer home loans quickly and easily
- Demand for Freedom Mortgage's fulfillment services greater than anticipated -
Mount Laurel, NJ – October 14, 2014 – Freedom Mortgage Corporation, a privately held full-service mortgage lender licensed in all 50 states, announced that its Financial Institutions Partner Group, which provides a cost effective and scalable mortgage origination fulfillment service for banks and credit unions, has exceeded expectations for growth during 2014.
The response to Freedom Mortgage's services demonstrates a growing trend toward mortgage outsourcing, which enables financial institutions of all sizes to offer a full-service mortgage solution without the expense of building, staffing and operating the departments themselves.
The Financial Institutions Partner Group launched operations in March of 2014, offering complete outsourced mortgage services specifically to small and midsize credit unions and banks.
The market for top-quality mortgage fulfillment services was greater than we anticipated, says Stanley Middleman, Freedom Mortgage CEO.
In less than six months, we have signed on twenty-five institutions.
Freedom Mortgage's Financial Institutions Partner Group empowers community banks and credit unions to attract borrowers on a par with full-service mortgage lenders. Freedom Mortgage's fulfillment services allow these institutions to offer a complete array of mortgage products to their customers and members while reducing costs and minimizing regulatory compliance and operational risks. Middleman sees this as both a solid defensive and offensive strategy for these financial institutions.
Smaller financial institutions compete on the basis of highly-personalized customer service, he explains.
When they cannot offer a full menu of mortgage products, they are disadvantaged by their large bank competitors and run the risk of losing deposit and other loan accounts if they are unable to accommodate mortgage requests. Our Financial Institutions Partner Group keeps this from happening and, at the same time, drives additional income and revenue for these partners, he says.
Our solution provides precisely the same high service levels these borrowers are accustomed to receiving when they visit their local banks or credit unions, building and enhancing that important bond.
It is not surprising that so many small and midmarket institutions have taken advantage of the opportunities offered by the Financial Institutions Partner Group. We help them build relationships with their customers and members and allow them to benefit from an experienced, borrower-focused mortgage expert, Middleman says.
To learn more about Freedom Mortgage's Financial Institutions Partner Group, call toll free (844.656.6427) .
About Freedom Mortgage
Freedom Mortgage is a non-bank, full-service mortgage company that provides mortgage loan servicing and originations through retail, wholesale, and correspondent channels. As the nation?s fifth largest mortgage provider, licensed in all 50 states, Freedom Mortgage is renowned for providing world-class service to its clients, borrowers and partners. The company was founded in 1990 and is headquartered in Mount Laurel, New Jersey.
Freedom Mortgage Corporation is a privately held company. This press release may be deemed to contain forward-looking statements, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the expected benefits to consumers from using Freedom Mortgage Corporation's services. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results due to a variety of risks and uncertainties. Any forward-looking statements in this release are based on limited information currently available to Freedom Mortgage Corporation, which is subject to change, and Freedom Mortgage Corporation will not necessarily update the information.
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