NFM Lending https://nfmlending.com/ Tue, 02 Jan 2024 19:01:31 +0000 en-US hourly 1 https://wordpress.org/?v=6.4.3 NFM Lending is a Scotsman Guide Top Workplace for 2024 https://nfmlending.com/about-nfm/news/scotsman-guide-to-workplaces-2024/ Tue, 02 Jan 2024 19:01:31 +0000 https://nfmlending.com/?p=43370 LINTHICUM, MD, January 2, 2024 – NFM Lending is honored to have been named a Top Workplace by Scotsman Guide for 2024. This is Scotsman Guide’s inaugural year hosting the award and the first time NFM has won it. According to Scotsman Guide, a Top Workplace is a company that has exceptional achievements in operations, benefits, corporate […]

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LINTHICUM, MD, January 2, 2024 – NFM Lending is honored to have been named a Top Workplace by Scotsman Guide for 2024. This is Scotsman Guide’s inaugural year hosting the award and the first time NFM has won it. According to Scotsman Guide, a Top Workplace is a company that has exceptional achievements in operations, benefits, corporate culture, philanthropy, and DEI commitment. Although the Top Workplaces feature is not a ranking like Scotsman Guide’s other awards, NFM Lending was included in the Editor’s Picks category along with 15 other companies.

“We are immensely honored to be named a ‘Top Workplaces 2024’ by Scotsman Guide, a testament to our unwavering commitment to fostering a workplace culture that values excellence, collaboration, and innovation,” said Gene DiPaula, Vice President of Communication at NFM. “This recognition reflects every team member’s dedication and hard work, and we are proud to be acknowledged by the leading resource for mortgage loan originators. As we continue to prioritize a thriving work environment, this accolade inspires us to reach even greater heights in delivering outstanding service to our customers and cultivating a workplace where success is celebrated together.”          

NFM Lending is consistently hailed for its remarkable company culture. These awards include Top Workplace USA by Top Workplaces and Energage, Top Mortgage Employer by National Mortgage Professional Magazine, Top Workplace by the Washington Post, and ‘Best Mortgage Companies to Work For’ by National Mortgage News.

The company and its loan originators have received numerous accolades from Scotsman Guide over the years for excellence in lending and record sales numbers. NFM has made the Top Mortgage Lenders list for five years and is among the top 30 lenders nationwide.

NFM Lending is proud of this new recognition and is thankful to everyone in the NFM Family of Lenders for their contributions.

About NFM Lending

NFM Lending is a national mortgage lending company currently licensed in 49 states in the U.S. and Washington, D.C. The company was founded in Baltimore, Maryland in 1998. NFM Lending and its family of companies includes Main Street Home Loans, BluPrint Home Loans, Elevate Home Loans, and Element Home Loans. They attribute their success in the mortgage industry to their steadfast commitment to customers and the community. For more information about NFM Lending, visit www.nfmlending.com, like our Facebook page, or follow us on Instagram.

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Top 5 Questions About Refinancing, Answered  https://nfmlending.com/financing-your-home/education/blog/top-5-questions-about-refinancing/ Fri, 22 Dec 2023 16:02:36 +0000 https://nfmlending.com/?p=43375 If you’ve been eyeing interest rates and waiting for an opportunity to refinance, your time has come! Refinancing is an excellent way to make your home work for you, and we’re answering the top five questions people have about refinancing.  Refinancing is when your original loan is replaced with a new loan with different terms. […]

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If you’ve been eyeing interest rates and waiting for an opportunity to refinance, your time has come! Refinancing is an excellent way to make your home work for you, and we’re answering the top five questions people have about refinancing. 

  1. How does refinancing work?

Refinancing is when your original loan is replaced with a new loan with different terms. It can be a smart move if you plan to stay in your home for a while; use a refinance mortgage calculator and speak with a lender to know your breakeven point. Many people refinance to lower their monthly payment, but it can also be used to access home equity, remove someone from the mortgage, get rid of private mortgage insurance (PMI), or change your loan type. Work with a loan originator to find out what refinance option is right for your needs.

  • What kinds of refinances are there? 

Much like purchase loans, there’s no one-size-fits-all refinance. There are several types of refinances that can help you achieve your financial goals:  

Rate and term refinance: This is the most common type of refinance because it allows you to lower your monthly payment or shorten the loan’s term. When interest rates drop, it’s a great time to take advantage of a rate and term refi, especially if you bought your home at a higher rate. You can also use this type of refinance to change your loan type (like going from an adjustable-rate to a fixed-rate mortgage) or remove PMI. Be aware that lowering your payment can lead to a longer term and more payments for the life of the loan, while choosing to shorten the repayment period can lead to a higher monthly payment. 

Cash-out refi: A cash-out refinance leverages your existing home equity by replacing your first loan with a higher mortgage and giving you the difference in cash. There’s no limit to how you can use your newfound funds—they can be used to pay off debt, make home repairs, take a vacation, or to pay for tuition. Since a cash-out refinance is riskier, the rates can be slightly higher than other refinance types. Cash-out refinances are also available for VA and FHA loans. You’ve put so much love and labor into your home, and a cash-out refi lets you reap those rewards!

Streamline or Interest Rate Reduction Refinance (IRRRL): A streamline refinance could be a good option for you if you have a  FHA,  USDA, or VA loan. Streamlined refinances and IRRRLs reduce how many items (such as an appraisal or credit check) are needed for eligibility, shortening the process. 

Renovation Loans: The Fannie Mae Homestyle Renovation Loan, FHA 203(k), and VA Renovation are specifically for people who want to make home repairs or upgrades. One benefit of these options is that the renovation costs are rolled into the new loan amount, so there’s only one closing and one interest rate. Instead of using your home’s current value for the loan amount, your lender will use the detailed project proposal submitted by your contractor to determine your home’s “as-completed” appraised value. 

Additionally, some lenders offer incentives that allow you to refinance with little-to-no fees when rates drop, making refinancing even more attractive.

  • When can I refinance my home? 

Depending on the refinance program you choose, there may be a minimum requirement for the number of payments made or length of homeownership, though this is more often the case for loans backed by the federal government. Some conventional loans don’t have a wait time, but cash-out refis usually have a six-month waiting period. Wait times vary depending on your lender, your current mortgage, and your refinance plan. Your current equity is also a major determining factor. For example, 20% in home equity is required for most cash-out transactions. There’s also no limit to how many times you can refinance the same property if you meet eligibility requirements.

  • Are there closing costs? 

Even though you already own your home, you may be surprised to know there can be closing costs when refinancing. Closing costs can be 2-5% of the loan amount, though this can vary. Much like the closing costs associated with buying a home, the fees for a refinance may include an origination fee, recording fee, appraisal fee, and more. Note that some refinances require an additional fee in addition to closing costs: the FHA Streamline refinances come with a mortgage insurance premium (MIP) and an upfront mortgage insurance premium (UFMIP); VA Streamline refinances mandate a funding fee of 0.5% for most cases. 

  • How long does it take to refinance? 

On average, it takes 30 days to refinance a home. The process is similar to buying a home in it involves submitting an application, providing any needed documents, going through a home appraisal in (some instances), getting underwriting approval, and attending closing. Sending correct information to your lending team on time will go a long way in speeding up the process.

No matter your reason for refinancing, it’s important to understand your goals and what’s involved with the process. Working with an experienced lending team will ensure your refi goes smoothly.

If you have any questions about refinancing, contact one of our licensed Mortgage Loan Originators. If you are ready to begin t­­he home buying process, click here to get started!

For informational purposes only. Refinancing an existing loan may result in the total finance charges being higher over the life of the loan. Veterans Affairs loans require a funding fee, which is based on various loan characteristics. LTVs can be as high as 96.5% for FHA loans. FHA minimum FICO score required. Fixed-rate loans only. W2 transcript option not permitted. Minimum required credit score of 620 for conventional loans.

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NFM Lending welcomes Kenneth Ufret as Branch Manager  https://nfmlending.com/about-nfm/news/cherry-hill-nj-kenneth-ufret/ Fri, 15 Dec 2023 14:58:46 +0000 https://nfmlending.com/?p=43356 LINTHICUM, MD, November 15, 2023 — NFM Lending is pleased to announce the opening of a new branch led by Branch Manager Kenneth Ufret. Pending licensing finalizations, the branch will be located in Cherry Hill, NJ. The NFM Lending branch will focus on expanding NFM’s flexible and powerful lending platform to better serve community families […]

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LINTHICUM, MD, November 15, 2023 — NFM Lending is pleased to announce the opening of a new branch led by Branch Manager Kenneth Ufret. Pending licensing finalizations, the branch will be located in Cherry Hill, NJ. The NFM Lending branch will focus on expanding NFM’s flexible and powerful lending platform to better serve community families with exceptional customer service. NFM Lending offers Conventional, FHA, VA, USDA, FNMA, Jumbo, and many other loan options to fit every borrower’s needs. 

The branch’s goal is to continue to provide the same commitment and dedication to borrowers, ranging from first-time homebuyers to seasoned buyers looking for their next home, a second home, or investment properties. 

“In this changing market, I went with a company that has the products and programs needed to meet any buyer’s needs, along with a reputation for superior customer service,” said Ufret.  

“We are very excited to have Ken join our team in the Philadelphia market,” said Branch Manager Jeffrey Rice. “Ken brings over 30 years of experience in real estate and mortgage financing, and he is a well-respected and proven leader in the community. Ken will us help grow NFM in the Philadelphia area in the years to come.” 

Ufret is currently seeking qualified Mortgage Loan Originators for full and part-time positions. 

For more information, please contact: 

Kenneth Ufret 
Branch Manager 
NMLS# 185399 
973-981-0437 
kufret@nfmlending.com 
www.nfmlending.com/kufret

About NFM Lending 

NFM Lending is a national mortgage lending company currently licensed in 49 states and Washington, D.C. The company was founded in Baltimore, Maryland in 1998. NFM Lending and its family of companies includes Main Street Home Loans, BluPrint Home Loans, Elevate Home Loans, and Element Home Loans. They attribute their success in the mortgage industry to their steadfast commitment to customers and the community. For more information about NFM Lending, visit www.nfmlending.com, like our Facebook page, or follow us on Instagram

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NFM Lending named a Baltimore Top Workplace for 12th Straight Year https://nfmlending.com/about-nfm/news/baltimore-sun-top-workplace-2023/ Tue, 12 Dec 2023 17:01:40 +0000 https://nfmlending.com/?p=43348 LINTHICUM, MD—December 12, 2023— NFM Lending is proud to announce it was named a Top Workplace by The Baltimore Sun. NFM Lending has received this honor for twelve consecutive years. The publication held the Top Workplaces awards ceremony on December 7, 2023, at the Grand Lodge of Maryland in Hunt Valley, MD. Out of 155 […]

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LINTHICUM, MD—December 12, 2023— NFM Lending is proud to announce it was named a Top Workplace by The Baltimore Sun. NFM Lending has received this honor for twelve consecutive years. The publication held the Top Workplaces awards ceremony on December 7, 2023, at the Grand Lodge of Maryland in Hunt Valley, MD.

Out of 155 Baltimore-area businesses, NFM Lending ranked #10 for companies with 150-399 employees. Each year, the Baltimore Sun distributes a survey to employees of Baltimore area workplaces. The survey analyzes job satisfaction and engagement of employees along with the values and organizational health of the company.

“We are immensely honored to be recognized as a ‘Top Workplace’ by the Baltimore Sun,” said NFM President and Chief Operating Officer Bob Tyson. “This accolade is a testament to the exceptional dedication and talent of our incredible team at the NFM Family of Lenders. Our success is a direct result of the hard work and commitment of each employee, who consistently contributes to our vibrant and positive workplace culture. We take great pride in fostering an environment where innovation, collaboration, and excellence thrive. This achievement is a reflection of our collective efforts, and we remain committed to maintaining a workplace that empowers and inspires every member of our NFM family.”

NFM Lending prides itself on its exceptional culture. The company fills the employees’ work environment with encouragement and teamwork, building a positive workplace that rewards commitment and performance. Management encourages employees to voice their questions and concerns, which are addressed promptly and appropriately. In addition, managers often surprise staff members for their birthdays, and the company holds contests, holiday celebrations, and other initiatives to encourage collaboration and show employees their appreciation.

NFM Lending is consistently recognized for its exceptional company culture. These awards include Top Workplace USA by Top Workplaces and Energage, Top Mortgage Employer by National Mortgage Professional Magazine; Top Workplace by the Washington Post; and ‘Best Mortgage Companies to Work For’ by National Mortgage News. NFM Lending is proud of these accomplishments and its team’s work to make it a Top Workplace.

About NFM Lending

NFM Lending is a mortgage lending company currently licensed in 49 states and Washington, D.C. The company was founded in Baltimore, Maryland in 1998. NFM Lending and its family of companies includes Main Street Home Loans, BluPrint Home Loans, Elevate Home Loans, and Element Home Loans. They attribute their success in the mortgage industry to their steadfast commitment to customers and the community. For more information about NFM Lending, visit www.nfmlending.com, like our Facebook page, or follow us on Instagram.

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53% of Gen Z Ready to Buy Homes Within Six Months https://nfmlending.com/about-nfm/news/nfm-lending-influencers-find-53-of-gen-x-viewers-ready-to-buy-homes-within-six-months/ https://nfmlending.com/about-nfm/news/nfm-lending-influencers-find-53-of-gen-x-viewers-ready-to-buy-homes-within-six-months/#respond Thu, 09 Nov 2023 17:24:42 +0000 https://nfmlending.com/?p=43100 With the oldest turning 26 this year, most Gen Z’ers aren’t quite ready for homeownership — but a burgeoning set of this young generation plans to buy in the next few months, NFM Lending found. How can lenders target and capture the latter? We can sum up the most effective strategy with one word: Influencers. […]

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With the oldest turning 26 this year, most Gen Z’ers aren’t quite ready for homeownership — but a burgeoning set of this young generation plans to buy in the next few months, NFM Lending found.

How can lenders target and capture the latter? We can sum up the most effective strategy with one word: Influencers.

In the last decade, social media influencers revolutionized how companies reach their target audiences. In return, this spawned a new generation of consumers who are too savvy for traditional marketing methods.

Gen Z’ers view their favorite content creators as trusted peers and expect products to be authentic and personalized to their individual needs. They prefer to receive information through videos, on apps like YouTube and TikTok.

While TikTok isn’t yet the most popular social media platform, with 1 billion monthly active users globally compared to Facebook’s 3 billion, it’s growing, garnering the second-highest number of downloads of any non-gaming app in January 2021 with 62 million.

Sixty percent of the app’s users are Gen Z, providing a well-stocked pool of potential new loan applicants. To tap into it, NFM Lending launched an in-house influencer division in January 2022, led in part by Scott Betley, otherwise known as @ThatMortgageGuy on TikTok, Instagram, Facebook and YouTube.

In just a year and a half since, NFM Lending expanded to 16 in-house influencers, creating increasingly popular informative and entertaining videos.

Betley grew his fanbase to more than 1 million followers across all platforms as of this post’s publish date as a testament to their efficacy. He’s clocked more than 10 million views to his most popular videos — several of which compare the plight of Gen Z’ers saving for down payments to Boomers enjoying homes they bought affordably in the 1980s.

One of the talented creators recruited for NFM’s in-house influencer team is Jordan Nutter, aka @ANutterHomeLoan, whose satirical yet educational posts elicit genuine belly laughs. Jordan has over 240k followers across all platforms and hundreds of thousands of views on her videos. She is best known for her phone call reenactments inspired by real-life conversations with her clients. Jordan has immersed herself in the division’s success and was promoted to become its Vice President earlier this year.

How does NFM’s strategy stand out from other mortgage companies? NFM Lending takes its strategy a step further than its competitors. When visiting an influencer’s profile, users are guided to an optional intake form where they can share their financial statuses, contact information and how soon they plan to buy.

“It’s the roadmap to their homebuying journey,” NFM Lending Managing Director Gregory Sher explains. “The ‘Timeframe to Purchase’ field sets the clock in motion and allows us to create workflows to help the consumer accomplish their goal.”

NFM Lending’s clever method is the mouth of a funnel that narrows as it nurtures users deeper into the mortgage landscape. From 30.7 million TikTok views from Gen Z users in July 2023 (up 21.8% from June), NFM Influencers generated 1,401 leads. These became 24 prequalification applications and, finally, 20 loan originations. Of these leads, 941 asked for a real estate agent introduction.

Beyond creating leads and loan applications, the intake form provides data sets that offer unique insights into the behaviors and circumstances of Gen Z homebuyers.

Based on the numbers collected between July 2021 and 2023, we learned that:

Nearly all Gen Z respondents currently rent and plan to own 

NFM Lending data confirms that most of this younger generation is headed toward homeownership for the first time. Of the 2,191 Gen Z’ers who shared their current ownership through our intake form in that timeframe, 93.9% were renters. Similarly, 99.4% of 2,575 said they’d use their mortgages to buy homes, rather than to refinance or build.

But with rents at record highs, we’re in a historically difficult time for renters to save for down payments. In July 2023, the national median rent was $2,038, which equals a whopping 75% of Gen Z’s median income of $32,500. That makes it especially tough for them to set aside piles of cash, but to put 20% down for the median U.S. home price of $416,100, they’d need to stack up $83,220.

Of 922 respondents who revealed the value of their assets, including savings, to NFM Lending, just 5.3% had more than $40,000. Most had less than $10,000 (70.5%) and the rest had $10,000-$40,000 (24.2%).

Fortunately, down payment assistance programs can help, as can mortgage products that require less than 20% down. Take, for example, the NFM Zero Down Flex, which has no income cap and offers 100% financing for conventional loans.

And as Gen Z learns to navigate their unique circumstances, a burgeoning set is ready to buy.

One-third of Gen Z respondents expect to buy in 3-6 months

While 87% of respondents to a Gen Z Planet study said they’d love to own homes one day, the dream feels out of reach for many. A Freddie Mac survey found that 34% of Gen Z’ers worry they’ll never afford to buy places of their own, with insufficient credit history, lack of stable income and student loan debt cited as their primary obstacles.

And yet, of the 1,920 Gen Z’ers who shared with NFM Lending how soon they plan to buy homes:

      • 27.1% said they expect to in 3-6 months

      • 25.9% selected 1-3 months

      •  23.9% responded 6+ months

      • 23.1% put ASAP

    Altogether, 53% of the Gen Z TikTok users who offered their information to NFM Lending planned to buy homes within six months. But does that mean their incomes qualify for mortgage loans? Our data is promising.

    Nearly 75% of Gen Z respondents earn $50,000-$150,000

    NFM Lending found that most Gen Z respondents made enough money to satisfy lender requirements. Of the 858 respondents who shared their incomes:

        • 74.6% had an annual household income of $50,000-$150,000

        • 23.2% earned less than $50,000

        • 2.2% made more than $150,000

      In terms of credit, of 1,129 respondents, 40.7% said they had an Excellent score, while 47.4% reported a Good one. And though nearly 12% admitted to having a low score, data showed that was more likely due to their lack of credit than being irresponsible with payments.

      “In other words, they need more open trade lines such as credit cards that show a good pay history,” Sher says.

      Being that they’re just setting off in their adulthood, it’s understandable that Gen Z’ers need some guidance while establishing themselves financially.

      91.8% of Gen Z respondents asked for a real estate agent introduction

      As first-time homebuyers, this young generation could use assistance navigating the housing market.

      Traditionally, the path to homeownership involved finding a real estate agent who recommended a lender from their carefully curated Rolodex. Lately, however, that sequence started to flip. Many homebuyers today start off by shopping for a lender to see which loans they qualify for.

      Through its intake form, NFM Lending reaches buyers in the infancy stage of their journeys, long before they’re ready to meet with a real estate agent. Of the respondents who shared their status of hiring a pro for their search, 84.1% of 2,178 said they didn’t yet have an agent and 91.8% of 756 respondents welcomed an introduction to one.

      This change in the process allows loan officers to send prepped homebuyers to real estate agents with warm handoffs. They can source their personal directories and the roster of talented folks at  Clever Real Estate, an NFM Lending partner, to suggest the pro that might work best with each buyer.

      However, it also gives loan officers a new level of responsibility. They must effectively explain terms and concepts, like credit history and down payment assistance, to buyers who may be new to hearing them.

      “As a result of where Gen Z’ers are in the process — super early — working with a lender that excels in financial literacy has never been more important,” Sher notes.

      Indeed, most Gen Z’ers aren’t quite ready to buy their first homes, but with its influencer strategy and intake form, NFM Lending is prepared to support them when they are. In the meantime, our data provides unique insights to inform the greater mortgage industry on the best ways to do so. 

      Click to learn more about The Creator Collective (NFM Lending’s Influencer Division) or to apply for a home loan.

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      NFM Lending Announces Rebranding of Influencer Division to The Creator Collective https://nfmlending.com/about-nfm/news/nfm-lending-creator-collective/ Tue, 07 Nov 2023 08:00:48 +0000 https://nfmlending.com/?p=43175 LINTHICUM, MD, November 7, 2023 — NFM Lending, a leading mortgage company, is excited to announce a significant rebranding effort for one of its core divisions. The company’s Influencer Division will now be known as The Creator Collective, reflecting a strategic shift to more accurately represent the innovative work being done by this dynamic group […]

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      LINTHICUM, MD, November 7, 2023 — NFM Lending, a leading mortgage company, is excited to announce a significant rebranding effort for one of its core divisions. The company’s Influencer Division will now be known as The Creator Collective, reflecting a strategic shift to more accurately represent the innovative work being done by this dynamic group of social media pioneers.

      The name change from Influencer Division to The Creator Collective is more than just a semantic shift; it’s a reflection of the division’s evolution and the multifaceted nature of their contributions. In the digital age, these individuals do far more than merely “influence” others. They are content creators and educators who hold the key to financial empowerment. They particularly play a vital role in helping Gen Z homebuyers, who prefer to receive information through videos on apps like YouTube and TikTok, navigate the complexities of the mortgage process.

      This rebranding acknowledges the dedication and creativity of each member of The Creator Collective. These individuals invest significant time and effort in crafting valuable, informative, and engaging content related to the mortgage industry. They are true creatives, with distinctive styles and unique niches that set them apart not only from each other but also from online creators in other sectors.

      The Creator Collective is committed to producing content that empowers and educates potential homebuyers. They craft insightful narratives, offer expert advice, and use their creativity to demystify the home-buying process. As a result, they are increasing financial literacy, making it more accessible to a broader audience, especially Gen Z buyers, a burgeoning set of prospective homebuyers.

      This rebranding effort underscores the true essence of the division’s mission. The name The Creator Collective better signifies the work they are doing and the significant value they bring to online content in the mortgage industry. By embracing this new name, NFM Lending is reaffirming its commitment to innovation in social media and excellence in mortgage lending.

      NFM Lending is excited to embark on this new chapter with The Creator Collective and looks forward to the continued impact and inspiration they will bring to the world of homeownership and mortgage education.

      For more information about NFM Lending and The Creator Collective, please email TheCreatorCollective@nfmlending.com.

      About NFM Lending

      NFM Lending is a national mortgage lending company currently licensed in 49 states and Washington, D.C. The company was founded in Baltimore, Maryland in 1998. NFM Lending and its family of companies include Main Street Home Loans, BluPrint Home Loans, Elevate Home Loans, and Element Home Loans. They attribute their success in the mortgage industry to their steadfast commitment to customers and the community. For more information about NFM Lending, visit www.nfmlending.com, like our Facebook page, or follow us on Instagram.

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      NFM Lending Awarded Three Culture Excellence Awards from Top Workplaces https://nfmlending.com/about-nfm/news/culture-excellence-top-workplaces-usa-2023-q4/ Thu, 19 Oct 2023 07:00:00 +0000 https://nfmlending.com/?p=43114 LINTHICUM, MD, October 19, 2023 – NFM Lending is proud to announce that it has received three Culture Excellence awards from Top Workplaces by Energage for the fourth quarter of 2023. For the third consecutive year, Top Workplaces recognized NFM for its Employee Well-Being, Employee Appreciation, and Professional Development. NFM prides itself in creating a company culture […]

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      LINTHICUM, MD, October 19, 2023 – NFM Lending is proud to announce that it has received three Culture Excellence awards from Top Workplaces by Energage for the fourth quarter of 2023.

      For the third consecutive year, Top Workplaces recognized NFM for its Employee Well-Being, Employee Appreciation, and Professional Development. NFM prides itself in creating a company culture where employees thrive and feel like valued family members. At the branch and corporate level, NFM promotes internal employees and offers engaging training opportunities. The company has also been honored with the national Top Workplace USA and Financial Services Industry awards each year since 2021.

      “Our employees are the lifeblood of The NFM Family of Lenders,” said President and COO Bob Tyson. “The fact that our team members feel appreciated, have a great work-life balance, and have opportunities for professional growth indicates that we are on the right track to making our company a great place to work and grow together.”

      The Top Workplaces program distributes a survey to the employees of each nominated company, asking them to evaluate their workplaces. The survey asks participants to rank their companies on the quality of leadership, work-life balance, pay and benefits, and more. The Culture Excellence Awards focus on key aspects of the workplace environment and are released throughout the year. NFM Lending is consistently recognized for its exceptional company culture. Other awards include: ‘Top Workplace USA’ by Energage, ‘Top Mortgage Employer’ by National Mortgage Professional Magazine; ‘Top Workplace’ by The Baltimore Sun and the Washington Post; ‘Great Place to Work’ by Great Place to Work, and ‘Best Mortgage Companies to Work For’ by National Mortgage News, and ‘50 Best Places to Work For’ by Mortgage Professional Magazine. NFM Lending is proud to have received these distinctions and is thankful for each team member within the NFM Family.

      About NFM Lending

      NFM Lending is a national mortgage lending company currently licensed in 49 states and Washington, D.C. The company was founded in Baltimore, Maryland in 1998. NFM Lending and its family of companies include Main Street Home Loans, BluPrint Home Loans, Elevate Home Loans, and Element Home Loans. They attribute their success in the mortgage industry to their steadfast commitment to customers and the community. For more information about NFM Lending, visit www.nfmlending.com, like our Facebook page, or follow us on Instagram.

      The post NFM Lending Awarded Three Culture Excellence Awards from Top Workplaces appeared first on NFM Lending.

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      NFM Lending welcomes Branch Managers Dan Longman and Ken Zorovich https://nfmlending.com/about-nfm/news/ft-lauderdale-fl-dan-longman-ken-zorovich/ Tue, 17 Oct 2023 07:00:00 +0000 https://nfmlending.com/?p=43111 LINTHICUM, MD, October 17, 2023 — NFM Lending is pleased to announce the opening of a new branch led by Branch Managers Dan Longman and Ken Zorovich. Pending licensing finalizations, the branch will be located in Fort Lauderdale, Florida. The NFM Lending branch will focus on expanding NFM’s flexible and powerful lending platform to better […]

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      LINTHICUM, MD, October 17, 2023 — NFM Lending is pleased to announce the opening of a new branch led by Branch Managers Dan Longman and Ken Zorovich. Pending licensing finalizations, the branch will be located in Fort Lauderdale, Florida. The NFM Lending branch will focus on expanding NFM’s flexible and powerful lending platform to better serve community families with exceptional customer service. NFM Lending offers Conventional, FHA, VA, USDA, FNMA, Jumbo, and many other loan options to fit every borrower’s needs.

      “Once we started exploring companies, NFM clearly stood out,” said Longman. “Their technology, resources, and systems were second to none. What sealed the deal for us was the people we met behind the scenes. The NFM Family is truly special, and you can tell they take great pride in their work. That attitude was contagious and the reason we decided to join forces with them.  We couldn’t be more thrilled with our decision and are ready to get to work for our clients!”

      “I am excited to join the team at NFM Lending,” said Zorovich. “I believe in the people behind the scenes, the technology, and their vision. We are prepared to attack the next real estate market and give our clients the best chance to succeed.”

      The branch’s goal is to continue to provide the same commitment and dedication to borrowers, ranging from first time homebuyers to seasoned buyers looking for their next home, a second home, or investment properties.

      “Dan, Ken, and their team had no shortage of options, and they chose to come to NFM,” said Managing Director Greg Sher. “Rising tides lift all boats, and this team will surely make us better as an organization. We are excited to be working with these tenured professionals. They are an incredible cultural and production fit.”

      Longman and Zorovich are currently seeking qualified Mortgage Loan Originators for full and part-time positions.

      For more information, please contact:

      Dan Longman, Branch Manager

      NMLS# 369430

      305-525-9049

      dlongman@nfmlending.com

      nfmlending.com/dlongman

      Ken Zorovich,  Branch Manager

      NMLS # 369398

      305-360-2196

      kzorovich@nfmlending.com

      nfmlending.com/kzorovich

      About NFM Lending

      NFM Lending is a national mortgage lending company currently licensed in 49 states in the U.S. and Washington, D.C. The company was founded in Baltimore, Maryland in 1998. NFM Lending and its family of companies includes Main Street Home Loans, BluPrint Home Loans, Elevate Home Loans, and Element Home Loans. They attribute their success in the mortgage industry to their steadfast commitment to customers and the community. For more information about NFM Lending, visit www.nfmlending.com, like our Facebook page, or follow us on Instagram.

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      All About the Knock HomeSwap™ Loan https://nfmlending.com/financing-your-home/education/blog/knock-homeswap-loan/ Thu, 28 Sep 2023 19:22:45 +0000 https://nfmlending.com/?p=43058 In life, sometimes you need help getting from Point A to Point B. When it comes to buying a home, bridge loans are one way to, well, bridge that gap. NFM Lending and the Family of Lenders have partnered with Knock to offer borrowers a streamlined way to sell and buy a home. Learn how […]

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      In life, sometimes you need help getting from Point A to Point B. When it comes to buying a home, bridge loans are one way to, well, bridge that gap. NFM Lending and the Family of Lenders have partnered with Knock to offer borrowers a streamlined way to sell and buy a home. Learn how their unique HomeSwap™ program works and whether it’s right for you.

      What is HomeSwap™?

      HomeSwap™ is a bridge loan offered by Knock through NFM Lending and its divisions. A bridge loan is a short-term loan that provides temporary financing until more permanent funds can be acquired. Also called swing or gap loans, bridge loans often last from 6 months to a year. They’re frequently used by home buyers who want to purchase their next home without having to wait for their current home to sell, and HomeSwap™ was designed exactly for such scenarios.  

      How Does HomeSwap™ Work?

      When you’re trying to buy and sell a home simultaneously, sometimes the timing doesn’t align, and you end up “between homes.” Many homebuyers worry they’ll temporarily be without permanent housing until their first home sells, and adding a selling contingency to an offer could reduce the chances of it being accepted. Using the HomeSwap™ loan helps prevent both from happening. First, make sure you’re already working with NFM or one of our divisions for mortgage pre-approval. Your loan originator will assess whether you’re eligible for the HomeSwap™ program, and the Knock team will check if your current residence qualifies for their services. If you have at least 30% equity in your existing home, you can leverage up to $650,000 of it, interest-free for up to six months, to put towards the purchase of your new home. This gives you the advantage of preserving more of your savings simply by using the equity you’ve already built! The more equity you’re able to access, the lower your interest rate can be. 

      Once you’ve been determined eligible, the Knock team will get started on pre-approving you for a fully underwritten, interest-free* bridge loan. One benefit of the HomeSwap™ loan (and bridge loans in general) is that the underwriting process happens much faster than for a regular mortgage. Since the short-term loan will be based on the value of your current home, you’ll need to take numerous photos of the inside and outside of the property so the Knock team can judge the property’s condition. 

      After the bridge loan is pre-approved, go out and find a new home! Because you’re pre-approved for a mortgage and the HomeSwap™ loan, you can shop with confidence. When you’ve found a home you love, you can make a competitive offer without tacking on a sales contingency. Don’t worry about selling your existing home now—that will come later. HomeSwap™ gives you breathing room to buy and move into your new home without also going through the stress of showing your old home, finding and moving into temporary housing, or having the buyer’s financing fall through. 

      Now that you’re more settled in your new place, you’re ready to sell your old house! To help sell your home faster, and ideally, for more money, HomeSwap™ offers up to $35,000** in Pre-Imbursement to help with repairs, upgrades, or staging costs. These funds are already factored into the loan cost, saving you additional money on such expenses. Another stressor that’s off your plate? Paying the mortgage on your former home while waiting for it to sell. HomeSwap™ can cover up to 6 months of your old mortgage payments so you’re only paying the one mortgage of your new home! After your home sells, you use the profit to pay off the HomeSwap™ loan. Any leftovers can be used towards your new home’s mortgage or debt payoff.

      Is it Right for You? 

      HomeSwap™ streamlines the buying and selling process for homebuyers, especially in a seller’s market. It works well in a seller’s market because there’s a higher likelihood that your current property will sell quickly. Be sure to speak with your lender and real estate agent so they can gauge the health of your local housing market and discuss your options. In addition to regular closing costs, there is a contract fee based on the estimated list price of your old home for using Knock’s services. This cost can be paid at closing or rolled into your HomeSwap™ loan. Additionally, it will be easier to be approved if you have a strong credit score and low debt-to-income (DTI) ratio. 

      Don’t have to let market uncertainty keep you from selling your current home and moving into a new one! The Knock HomeSwap™ loan offers you peace of mind that you can cover the expenses of your new home while waiting for your old one to sell. 


      If you have any questions about the Knock HomeSwap™ advantage, contact one of our licensed Mortgage Loan Originators. If you’re ready to begin the home buying process, click here to get started!

      *Interest-free for up to six months. **Actual amount is based on client’s individual equity position. This is a co-marketing piece with Knock Lending LLC, NMLS #1958445. You are entitled to shop around for the best lender for you. Make sure you understand the features associated with the loan program you choose, and that it meets your unique financial needs. Subject to Debt-to-Income and Underwriting requirements. This is not a credit decision or a commitment to lend. Eligibility is subject to completion of an application and verification of home ownership, occupancy, title, income, employment, credit, home value, collateral, and underwriting requirements. Not all programs are available in all areas. Offers may vary and are subject to change at any time without notice. 

      The post All About the Knock HomeSwap™ Loan appeared first on NFM Lending.

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      What is Underwriting? https://nfmlending.com/financing-your-home/education/blog/what-is-underwriting/ https://nfmlending.com/financing-your-home/education/blog/what-is-underwriting/#respond Wed, 06 Sep 2023 18:56:47 +0000 https://nfmlending.com/?p=42884 Underwriting is one of the most crucial stages your loan application goes through before you are given a final approval to close on your loan. It might sound intimidating, but underwriting isn’t the headache you might think it is. Here’s a look at what happens during underwriting.  What is Underwriting? Underwriting is the process of […]

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      Underwriting is one of the most crucial stages your loan application goes through before you are given a final approval to close on your loan. It might sound intimidating, but underwriting isn’t the headache you might think it is. Here’s a look at what happens during underwriting. 

      What is Underwriting?

      Underwriting is the process of evaluating and reviewing a potential borrower’s creditworthiness, ability to repay, financial profile, submitted documents, and collateral to determine whether the lender can fund the loan. Essentially, underwriters have the final say in whether you qualify for a loan. Remember all those financial documents you had to send with your mortgage application? After the paperwork has been compiled into a loan package by the processing team, it goes to underwriting for a comprehensive inspection. During the first underwriting phase, the team reviews loan conditions for credit, income, asset, mortgage insurance, and hazard (disaster) insurance requirements. The second phase of underwriting happens towards the end of the mortgage process, where underwriters do a final check of the conditions from the initial approval. The turnaround time for underwriting is usually two days, after which the loan file goes back to the processing team.

      What Happens in Underwriting?

      Risk Analysis 

      To assess your potential risk, underwriters will do a deep dive into your credit score, credit history, income and net worth, and debt-to-income ratio (DTI). A strong credit score is a good indication of how financially responsible you are. Having a solid history of on-time payments increases your score and gives lenders more confidence that you won’t miss payments. Underwriters use your income and assets to determine whether you can afford mortgage payments. DTI measures how much money you have left after paying your existing debts. Having a lower DTI will improve your chances of getting approved. 

      Asset and Document Verification

      Underwriting will review in detail the documentation provided to validate your income and assets being used in the transaction. These documents come from both you and other third parties, such as your employer or a financial institution. An underwriter’s job is to scrutinize and authenticate the documents in your loan file and make sure they meet the guidelines for the loan type you have applied for. Should any questions arise, you may be asked for additional information or an explanation. The underwriter also ensures the files don’t contain suspicious information or raise a red flag for potential discrepancies. For example, a large deposit into a bank account can warrant a request for an additional explanation or documentation to ensure funds you are using for closing costs or a down payment are coming from a valid source allowed by the guidelines set forth by the agencies. 

      Reviewing Guidelines

      Underwriters also check your financial profile and loan details against various lending guidelines before they make a decision. There are lending criteria for different loan types, programs, and promotions, so it’s essential that all underwritten loans adhere to those regulations. Underwriters often have to think creatively when faced with ambiguous situations, which can prompt them to ask for additional details. Underwriters also check that the appraiser’s choice of real estate comparisons (comps) support the appraised value as determined by the appraiser and ensuring the collateral is supported by the appraisal.

      How You Can Help During Underwriting 

      Since your application goes through multiple rounds of underwriting, it can feel stressful wondering whether your loan will be approved or not. To help make things smoother for yourself and your lender, make sure you provide all the needed documents at the start of your application in the correct format. Stay in close communication with your lending team and be prepared to answer any questions and send supplementary paperwork as soon as possible. The sooner you can provide the information, the faster the underwriters can work through your file. It’s crucial to be honest about your finances, as trying to hide things will prolong the process and be discovered nevertheless.

      As long as you’re providing clear and concise information and providing necessary documentation in a timely manner, underwriting is nothing to be scared of. Be patient during this time and remember that your lending team is on your side to help you become a homeowner!


      If you have any questions or want more information about the mortgage process, contact one of our Licensed Mortgage Loan Originators. If you are ready to begin the home buying process, click here to get started!

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