Have you heard? Adding to its growing roster of differentiated programs to support its lending partners, AFR is rolling out a simplified Conventional One-Time Close (OTC)/single-close construction program.
Rob Chrisman's Daily Mortgage News & Commentary
Have you heard? Adding to its growing roster of differentiated programs to support its lending partners, AFR is rolling out a simplified Conventional One-Time Close (OTC)/single-close construction program.
American Financial Resources, Inc. announces it will now offer a Conventional One-Time Close (OTC) program – in both its wholesale (AFR Wholesale) and retail (eLEND®) channels – which provides permanent financing for a new stick-built or manufactured home, that converts to a standard conventional mortgage once construction is completed. This offering rounds out the mortgage lender’s existing single-close construction financing suite of products and features.
Rob Chrisman's Daily Mortgage News & Commentary
From industry-leading technology to professional expertise and convenient education opportunities, AFR offers an impressive range of value-added services to its broker partners: access to the secure online AFR Loan Center…
When buying a home, especially a first home, most buyers are focused on things like location, number of bedrooms and bathrooms, and square footage. They’re most likely not thinking about things like current interest rates, loan underwriters, or whether or not their mortgage company is utilizing the latest technology. A company like American Financial Resources (AFR), however, is not only thinking about all the concerns of the homebuyer—bedrooms and bathrooms included—they’re also thinking about the latest innovations and how they can streamline processes for their clients.
National Mortgage Professional Magazine
Bill Packer, AFR COO, explains why the absence or disparity of women and other minorities is problematic in the workplace; this lack of diversity creates blind spots on critical issues that impact the underrepresented groups. These blind spots lead to product, systems and marketing designs and programs that don’t appeal to these critical groups.
Rob Chrisman's Daily Mortgage News & Commentary
DPA Advantage is designed to provide down payment assistance equal to 2% of the purchase price to a wide variety of eligible borrowers, including first-time home buyers, first-responders, educators, medical personnel, civil servants and military personnel.
This attestation provides evidence that American Financial Resources has a strong commitment to deliver high quality services to its clients by demonstrating they have the necessary internal controls and processes in place.
Through the AFR University Training and Certification program, they provide loan officers with instructional webinars to help them get more knowledgeable and comfortable with manufactured home-specific loans. Once a loan officer has completed a set course of instruction, AFR provides a “Manufactured Housing Specialist” seal.
Rob Chrisman's Daily Mortgage News & Commentary
The improved program offers additional significant benefits including faster turnaround times and a single construction fee, as well as the use of various down payment assistance programs.
Anthony Casa, chairman of the Association of Independent Mortgage Experts (AIME), has announced that an FNM 3.2 export will be available on the new ARIVE mortgage platform. AFR Wholesale is proud to be one of the first companies to be fully integrated with ARIVE.
Lender NMLS: 2826
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