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With all the
media hype on the turmoil in the mortgage market, I wanted to
address Family Choice Mortgage Corporation’s (FCMC) position in this
marketplace.
We at FCMC
have always taken a conservative approach to our business. We have
continuously received excellent audit reviews from HUD, State
Department of Banking Divisions as well as from our own independent
CPA firm.
We have
always followed our trademark slogan: “Mortgages in your best
interest” ™.
This philosophy has helped create wealth for our clients by putting
them into the correct mortgage product allowing them to build equity
in a traditional manner.
FCMC will be
around long after many of our competitors have been forced to exit
the business.
Why is this
true?
- FCMC’s
primary business has always been conventional loans backed by Fannie
Mae, Freddie Mac, HUD and the VA.
- FCMC has
a rock solid financial base with no debt. In our 10 year
history, we have grown our business without going into
debt.
- FCMC has
a fully funded Loan Loss Reserve account. Per the Massachusetts
Division of Banks, we are the only Broker they have audited that has
this account.
- FCMC has
no underwriting risk. We have a partnership
with MGIC, the strongest mortgage insurer in the country, and MGIC
takes the underwriting risk on the loans we close.
- FCMC has
over 75 employees located in 7 offices throughout New England. FCMC has diversified
our markets to help balance downturns.
- FCMC
employees have more mortgage experience than most of the Bank
mortgage employees. Our knowledge, our
pricing, and our proven results put our employees above the
competition. We are the industry veterans!
As a well run
company FCMC may still suffer somewhat when the market is in
turmoil, but rest assured FCMC has been built to last, and we will
always be here for you.
Sincerely,
Jeffrey Lipes
President
Family Choice Mortgage Corporation |
