American Guardian Strengthens Wholesale Division to Better Serve Broker Network; Wholesale Lender Focuses on Broker Service, Commits to 24-Hour Turnaround.LAKE FOREST, Calif. -- American Guardian Home Loans, a wholesale mortgage lender serving broker and homebuilder originations for Alt-A and sub-prime products, has strengthened its wholesale division and made a commitment to 24-hour underwriting Underwriting 1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt). 2. The process of issuing insurance policies. turnaround time (1) In batch processing, the time it takes to receive finished reports after submission of documents or files for processing. In an online environment, turnaround time is the same as response time. . In addition, the lender has grown internally and added licenses in several U.S. states A U.S. state is any one of the fifty subnational entities of the United States, although four states use the official title "commonwealth". The separate state governments and the federal government share sovereignty, in that an American is a citizen both of the federal entity and . In response to brokers' demand for efficiency and quick turnaround times, American Guardian has implemented a 24-hour underwriting policy. Matthew Antinarelli, president of Aero Mortgage, a San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. County broker serving the Alt-A and subprime purchase market throughout Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, , says that underwriting is a primary factor when partnering with lenders. "Rates are not the most important factor in deciding which lenders a broker works with. Underwriting is by far the most important consideration. In fact, a lender can be one-fourth to three-eighths percentage points higher on rates, but that is offset by exceptional customer service," said Antinarelli. "American Guardian is really aggressive with underwriting. Their underwriting team shows an interest in helping my clients. They are extremely knowledgeable on guidelines guidelines, n.pl a set of standards, criteria, or specifications to be used or followed in the performance of certain tasks. for underwriting and being able to depend on American Guardian makes me more reliable to my clients." In effort to build its broker network, American Guardian strengthened its programs and services during Q1 2005. In this time, the wholesale lender employed more account executives focused on serving brokers and expanded into a 10,000 square-foot building to accommodate its growth. After being recently licensed in Hawaii, American Guardian is now licensed in seven states. Additionally, the lender offers a bankruptcy program in which brokers can offer borrowers a 100 percent loan with a FICO score FICO Score A standard credit score which makes up a substantial portion of a credit report that credit bureaus sell to lenders so they can asses an applicant's credit risk and whether to extend them credit. as little as 580. "American Guardian is committed to the principle that the greatest success in the mortgage industry is achieved by focusing on serving rather than selling," said Kamran Khosravi, president of American Guardian. "We are constantly improving our services and investing time in innovative strategies to make our brokers' lives easier. American Guardian is only as successful as its brokers, and we are dedicated to ensuring this happens." About American Guardian Orange County-based American Guardian Home Loans is an Orange a wholesale mortgage lender serving broker and homebuilder originations for Alt-A and sub-prime products. The company was founded in 1998 and serves its brokers and homebuilder partners with an emphasis on meeting their needs and serving rather than selling. Now licensed in Arizona, California, Colorado, Hawaii, Idaho, New Mexico New Mexico, state in the SW United States. At its northwestern corner are the so-called Four Corners, where Colorado, New Mexico, Arizona, and Utah meet at right angles; New Mexico is also bordered by Oklahoma (NE), Texas (E, S), and Mexico (S). , and Oregon, American Guardian has deepened its industry reputation and broadened its outreach to brokers on a national scope. American Guardian provides a full complement of Alt-A and subprime loan Subprime Loan A loan that is offered at a rate above prime to individuals who do not qualify for prime rate loans. Notes: Subprime loans tend to have a rate that is 0.1% to 0.6% higher than the prime rate. products through its wholesale division. The lender also handles A paper through its homebuilders division. For more information, visit www.amguardian.com. |
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