Underwriters and Parents

Chris Bensen · Post by **Chris Bensen** » Mon May 05, 2003 8:21 pm

We are a mortgage processing company based in Texas. We have been having an awful time with our current parent company (which will remain nameless) and we are desperately trying to find a new parent company and high quality underwriters to fund our loans. We are currently doing about 20 constrcution to perm manufactured housing loans per month and now have a backlog of over 50 in the pipeline. Our backlog continues to increase due to the closing of many processors such as ourselves. We are in negotiations to be the primary group to a major manufactured housing builder and hope to secure new partners prior to completing the deal...PLEASE HELP!!!

rmurray · Post by **rmurray** » Mon May 05, 2003 8:27 pm

For some reason..construction to perm is hard to find...The big boy in the business...starts with a Yor..... ....charges soooooo much that they are almost imposssible to use...With the fees, discount points and rates that they charge...assuming the average loan goes to close with in 60 days...they are getting nearly 60% or more return on their money...It seems there ought to be some investors out there who would be more reasonable.....

I hope someone here will jump on your wagon...good luck

James Lennox · Post by **James Lennox** » Wed May 07, 2003 6:08 pm

We are interested in possibly becoming involved. We will need considerably more details but we are interested and may be able to provide the resources you need to make your company grow.
James Lennox, VP
Max Lani Financial Group, LLC

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