We are delighted Inside Mortgage Finance named Freedom Mortgage the #1 FHA Lender in the United States for the year 2020. We originated and funded nearly $30 billion in FHA loans throughout the year, based on information compiled by the publication.
Freedom Mortgage achieved #1 FHA lender status primarily on our strength to refinance FHA loans. FHA refinances represent more than $27 billion of the nearly $30 billion total in originated and funded loans noted by Inside Mortgage Finance. Purchase loans contributed another $2.5 billion to the total.
Freedom Mortgage is particularly focused on offering FHA streamline refinances to our customers. Streamline refinances allow FHA homeowners to replace their current FHA loans with new FHA loans that have lower rates or better terms. Streamline refinances often have simpler applications. They have flexible credit requirements and require less paperwork. FHA homeowners generally don’t have to provide documents verifying their income with streamline refinancing and home appraisals are usually not required either.