CoreStar Financial Group announces $20,000,000 Financing Facility Agreement with Countrywide.TIMONIUM, Md. -- CoreStar Financial Group, has obtained a $20,000,000 financing facility from Countrywide coun·try·wide adv. & adj. Throughout a whole country; nationwide: launched a fundraising campaign countrywide; a countrywide search. Adj. 1. Warehouse Lending, the company announced today. The company will utilize the new credit facility to expand its mortgage banking production capacity and expects to more than double its current production within the next year. "We are extremely excited to be partnering with one of the leading warehouse providers in the industry," stated Tomas Gordon, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of CoreStar. "We already have a wonderful relationship with Countrywide and look forward to expanding the synergy between the two companies as we move forward with this new credit facility. Our average customer consolidates over $20,000 of consumer debt and saves over $400 on their monthly bills. We look forward to offering these great savings to thousands of new borrowers." CoreStar also maintains financing facilities with HSBC HSBC Hongkong and Shanghai Banking Corporation HSBC Humane Society of Broward County (Florida) HSBC Humane Society of Bay County (Bay County, Michigan) Mortgage Services and First Collateral Services, a subsidiary of CitiGroup. About CoreStar Financial Group (www.corestar.com) CoreStar Financial Group and its subsidiaries are engaged in the originating, 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. , funding, and bundled selling of residential non-conforming mortgage A non-conforming mortgage is a term in the United States for a residential mortgage that does not conform to the loan purchasing guidelines set by the Federal National Mortgage Association /Federal Home Loan Mortgage Corporation (Fannie Mae and Freddie Mac). loans. CoreStar specializes in consumer debt consolidation through mortgage refinance Refinance 1. When a business or person revises their payment schedule for repaying debt. 2. Replacing an older loan with a new loan offering better terms. Notes: When a business refinances they typically extend the maturity date. transactions. The average CoreStar borrower consolidates over $20,000 in consumer debt and saves over $400 on their monthly obligations. The company was founded by Tomas Gordon in late 2002 and has quickly grown to more than 160 employees and currently lends in 30 states ranging from Maine to Alaska to California. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion