lender Archives

LINTHICUM, MD, June 22, 2017 — NFM Lending is pleased to announce the opening of a new branch in Virginia, led by Branch Manager Blane Stewart. The branch will focus its lending platform throughout Brandy Station and the surrounding area. NFM Lending offers Conventional, FHA, VA, USDA, FNMA, Jumbo, and many other loan options.

“Partnering with NFM Lending allows me to align with a successful company that is focused on optimizing the purchase process for our customers and partners,” said Stewart. “This will allow a Realtor and buyer experience that is consistently excellent every time. This comes from proactive, engaged and transparent communication from contact to closing.”

Stewart’s two branches are located in central Virginia, with the main office in Brandy Station.

“Blane was a ‘wow’ addition in so many ways that matter,” said Greg Sher, Chief Business Development Officer of NFM Lending. “His attitude, determination, honesty, integrity, and commitment to his craft make him a cut above most. We’re truly honored to have him and his team on our journey to the top.”

The branch is currently hiring qualified Loan Originators for full and part-time positions. The branch’s goal is to provide top-notch service, commitment, and dedication to borrowers, ranging from first-time homebuyers to seasoned buyers looking for their next home, a second home, or investment properties. Visit the branch page to learn more: www.nfmlending.com/va331.

NFM Lending is a mortgage lending company currently licensed in 29 states in the U.S. The company was founded in Baltimore, Maryland in 1998. They attribute their success in the mortgage industry to their steadfast commitment to customers and the community. NFM Lending has firmly planted itself in the home loan marketplace as “America’s Common Sense Residential Mortgage Lender.™” For more information about NFM Lending, visit www.nfmlending.com, like our Facebook page, or follow us on Twitter.

If you are looking to purchase a home, you may have wondered what is needed to qualify for a mortgage. When your lender is determining whether you qualify for a home loan, many factors you may not have considered may come into play. Here are a few mortgage do’s and don’ts to keep in mind during your home buying process.

The mortgage process will require effort and patience, but moving into the home of your dreams will be worth it! If you have any questions about the mortgage or home buying process, contact one of our licensed Mortgage Loan Originators. If you are ready to begin the home buying process, click here to get started!

Over the past several months, we have answered the top questions about the top mortgage loan options. Our final blog in this series will answer the top 5 questions about United States Department of Agriculture (USDA) loans. If you are considering buying a home, read on to find out whether a USDA loan might be the right choice for you.

USDA Loans
USDA home loans are insured by the United States Department of Agriculture. This loan program allows low- and moderate- income households to purchase homes in eligible rural areas. Home buyers who do not qualify for a conventional mortgage may be able to purchase a home with a USDA loan.

If you are looking to purchase a home in a rural area, a USDA loan may be the right financing option for you. For more information about USDA loans, please visit the USDA website. If you have more questions about buying a home with a USDA loan, contact one of our licensed Mortgage Loan Originators. If you are ready to begin the home buying process, click here to get started!

*100% financing, no down payment is required. The loan amount may not exceed 100% of the appraised value, plus the guarantee fee may be included. Loan is limited to the appraised value without the pool, if applicable.

LINTHICUM, MD, January 4, 2017— NFM Lending is proud to announce that it was ranked one of the top 10 on Mortgage Executive Magazine’s 50 Best Companies to Work For list. This is the fourth year in a row that NFM Lending has been honored with this accolade.

Mortgage Executive Magazine conducted an extensive online survey of more than 10,000 Mortgage Loan Originators (MLOs) from over 200 mortgage companies and banks. The survey was limited to licensed MLOs who were presently employed by the companies they were rating. The survey asked participants to rate the company’s culture, loan processing, underwriting, compensation, management, marketing, and technology. The winning selections were based on total MLO votes and average rating score.

“The number one driver of our company is culture,” said Jan Ozga, President of NFM Lending. “Many midsized and larger companies treat their employees as metrics to help achieve company goals. NFM prides itself on being a family with a common purpose, and we spend a significant amount of time and resources building a company culture that keeps the number one focus on the employee. Imagine this: our highest-ranking managers at NFM actually know all the employees by their names. As a result of making a concerted effort to know the people we work with, we have over 400 people watching our bottom line instead of just a few at the top.

If you want to build a successful company that will withstand the test of time and unpredictable market influences, then you need to start by building a great culture. All companies talk culture. Very few live it.”

NFM Lending prides itself on its exceptional culture. The company has an open door policy which allows an open line of communication between management and staff. Employees are encouraged to voice their questions and concerns directly to management, so that they can be addressed promptly and correctly. In addition to a competitive salary and a comprehensive benefits package, NFM Lending loan originators receive ongoing support and assistance from qualified support and operations staff, and opportunities for trips and giveaways.

In addition to this most recent award, NFM Lending has been recognized many times for its exceptional company culture. In 2016 alone, it was named one of The Baltimore Sun’s Top Work Places in the Baltimore Area for the fifth year in a row; one of the Washington Post’s Top Work Places in the Washington, D.C. area for the second year in a row; and a Top Mortgage Employer by National Mortgage Professional Magazine for the second year in a row. NFM Lending is proud of each member of its team, and the work they do to make NFM a Top Workplace.

COLUMBUS, OH, December 29, 2016 — NFM Lending is pleased to announce the opening of a new branch in Columbus, Ohio, led by Sr. Vice President and Regional Manager for Ohio, Daniel Sa. The branch will focus its lending platform throughout Columbus and the surrounding area. NFM Lending offers Conventional, FHA, VA, USDA, FNMA, Jumbo, and many other loan options.

“I am so honored and excited to announce that we are adding Daniel and his team to the NFM family,” said David Silverman, CEO of NFM Lending. “This is an absolute powerhouse of a team. Daniel has been absolutely exploding in Columbus and has a terrific team that is not only going to grow, but dominate the Columbus and surrounding markets. Daniel is a terrific leader and he cares deeply about his team, clients, and referral partners, and he works diligently and aggressively every day to improve the experience for everyone.”

Sa has over a decade of experience in the mortgage industry. He was named a 2016 Five-Star Mortgage Professional and says he looks forward to continuing to grow with NFM Lending.

“I couldn’t be more excited about the decision to join the NFM family,” said Sa. “The people and operations associated with NFM, along with the strategic plans we have for the future, will provide us with a significant advantage in this highly competitive industry. Our focus on being the best and not the biggest is a clear indication of our commitment to our clients’ best interests, and it provides a path of sustainable growth for our future.”

The branch is currently hiring qualified Loan Originators for full and part-time positions. The branch’s goal is to provide top-notch service, commitment, and dedication to borrowers, ranging from first time homebuyers to seasoned buyers looking for their next home, a second home, or investment properties. Visit the branch page to learn more: http://www.nfmlending.com/OH330.

LINTHICUM, MD, December 5, 2016— NFM Lending is proud to announce that it was named a Top Workplace in the Baltimore area by The Baltimore Sun. This is the fifth year in a row that NFM Lending has received this honor.

Each year, The Baltimore Sun distributes a survey to employees of Baltimore area workplaces. The survey analyzes the job satisfaction and engagement of the employees along with the values and organizational health of the company.

“It inspires me that we are able to consistently remain on this list,” said Bob Tyson, COO/CAO. “I view this as a true testament to the culture we work so hard to grow and nourish every day.”

NFM Lending prides itself on its exceptional culture. The company’s executive team has an open door policy, which allows a clear line of communication between management and staff. Employees are encouraged to voice their questions and concerns directly to management so that they can be addressed promptly and correctly. Managers often surprise staff members for their birthdays, and the company holds contests, holiday celebrations, health fairs, and other initiatives to show employees their appreciation.

In addition to this most recent award, NFM Lending has been recognized many times for its exceptional company culture. In 2016, it was named one of the Washington Post’s Top Work Places in the Washington, D.C. area for the second year in a row, a Top Mortgage Employer by National Mortgage Professional Magazine, and one of Mortgage Executive Magazine’s Top 50 Best Companies to Work For for the second year in a row. NFM Lending is proud of each member of its team and the work they do to make NFM a Top Workplace.

Recently, we answered the Top Five Questions About Conventional Loans. This week, we will discuss Jumbo loans. If you are planning to purchase a home soon, read on to learn more about whether a Jumbo loan might be right for you.

While a Conventional loan is one which conforms to the guidelines set by Fannie Mae and Freddie Mac, a Jumbo loan is one which exceeds the loan limits set by these entities. These set loan limits vary by location. The majority of U.S. cities have a loan limit of $417,000 on one-unit properties, while higher cost areas tend to have a higher loan limit of $625,500. Some areas have a loan limit that is in between these two numbers, or even higher.

If the home you are interested in cost more than the loan limit for your area, a Jumbo loan may be right for you. Your lender will be able to help you determine how much house you can afford, and see if a Jumbo loan fits your needs.

Because the amount of a Jumbo loan is higher than a Conventional loan, the requirements may be stricter. A Jumbo loan may require a higher down payment, a higher credit score, higher reserves, and a lower debt-to-income ratio than a Conventional loan. Additionally, a Jumbo loan may require two appraisals, instead of one.

Often, you will not have to pay PMI on Jumbo loans, as they usually require a higher down payment. PMI is designed for home buyers who make low down payments. However, since the down payment requirement will vary by lender, it is possible that your lender will require PMI in exchange for a lower down payment.

In addition to no PMI requirement, one of the main benefits that a Jumbo loan is that you will be able to afford more home than with a Conventional loan or other loan type. Additionally, a Jumbo loan will allow you some flexibility with your loan terms. You can choose a 15 or 30-year mortgage, and a fixed-rate or adjustable-rate mortgage, depending on your needs. Your lender will work with you to determine what kind of loan program is right for you.

If you are looking at homes that exceed the conforming loan limits for your area, a Jumbo loan may be the right financing option for you. If you have more questions about Jumbo loans, contact one of our licensed Mortgage Loan Originators. If you are ready to begin the home buying process, click here to get started!

The six NFM Lending employees to receive this honor were Bill Driscoll, Branch Manager in Raynham, MA; Brian Pintar, Branch Manager in Greenwood Village, CO; Greg Cowart, Branch Manager in Glen Allen, VA; Joni Moncure, Loan Originator in Glen Allen, VA; Amy Samsal, Branch Manager in Sarasota, FL; and Joy Shearer, Branch Manager in Greensburg, PA.

“We focus each day at NFM on supporting all of our originators through empowerment, listening to their opportunities, and continually providing resources that allow them to be successful in reaching higher production levels, while providing the best quality of customer experience possible,” said Jason Ponsonby, Director of Sales. “We are honored to have six members of the NFM family recognized as Five-Star Mortgage Professionals this year and congratulate them on this distinguished achievement.”

Each year, the Five Star Professional organization conducts research to identify the top service professionals in over 45 markets throughout the U.S. They recognize the wealth managers, real estate agents, mortgage professionals, home/auto insurance professionals, and dentists who provide quality service to their clients.

NFM Lending is a mortgage lending company currently licensed in 29 states across the United States. The company was founded in Baltimore, Maryland in 1998. They attribute their success in the mortgage industry to their steadfast commitment to their customers and their community. NFM Lending has firmly planted itself in the home loan marketplace as “America’s Common Sense Residential Mortgage Lender™.” For more information about NFM Lending, visit www.nfmlending.com, like our Facebook page, or follow us on Twitter.

Recently, we answered the Top 5 Questions about FHA Loans. This week, we will discuss Conventional loans. If you are planning to purchase a home soon, read on to learn more about whether a Conventional loan might be the right financing option for you.

Conventional Loans
A Conventional or conforming loan is one which adheres to the guidelines set by Fannie Mae and Freddie Mac, and is not insured or guaranteed by the federal government. These loans can be fixed-rate or adjustable-rate. At any given time, approximately 35-50% of mortgages are conventional mortgages.

As with other loan types, credit score requirements for Conventional loans will depend on your lender. Conventional loans are designed for borrowers with good-to-great credit, and typically require a higher income and credit score than FHA loans.

The minimum down payment for a Conventional loan is 3% for fixed-rate mortgages, and 10% for adjustable-rate mortgages. It is usually a good idea to have a larger down payment saved up, as a down payment of 20% or more on a Conventional loan means that you will not have to pay a monthly mortgage insurance premium in addition to your monthly mortgage payment.

Fannie Mae loan limits for Conventional loans vary by state and county. The current loan limit for a 1-unit property in the continental United States is $417,000. For counties in the U.S. that have been designated as high-cost areas, the loan limit is $625,500. To see what the loan limit is in your area, click here.

Conventional loans allow you to choose between a 15- or 30-year term, with a fixed or adjustable interest rate. A fixed rate mortgage means that your interest rate remains the same throughout the life of the loan. An adjustable rate mortgage means that your interest rate will fluctuate throughout the loan term, based on market conditions and other factors. An adjustable rate mortgage allows you to take advantage of falling rates without having to refinance; however, your monthly payments will change periodically. A fixed rate mortgage means that your monthly payments will not change, and that you will not be affected if interest rates go up. What type of loan you should choose depends on your financial situation and how long you plan to live in the house. Your Loan Originator can assist you in selecting the right loan type for your needs.

One of the main advantages of Conventional financing is that you will likely be eligible for lower interest rates than with an FHA Loan. Another advantage is that you do not have to purchase mortgage insurance with a down payment of 20%; and if you do opt for a lower down payment, your mortgage insurance premium may be cheaper than it would be with an FHA Loan. Additionally, should you need to take cash out for any reason during your mortgage term, you may be able to “cash out” up to 85% of your home’s value.

LINTHICUM, MD, September 14, 2016— NFM Lending is pleased to announce that it sponsored and participated in the Fifth Annual NCADD-MD Recovery Classic on Monday, September 12^th, 2016.

The National Council on Alcoholism and Drug Dependence of Maryland (NCADD-MD) is a state-wide organization that works to raise public awareness of alcoholism and drug dependence issues, while working to ensure those affected by the disease of addiction have the necessary resources when accessing treatment and sustaining recovery.

“Thanks to loyal sponsors such as NFM Lending,” said David Nelson, Chairman of the Board for NCADD-MD, “our 5th Annual Recovery Classic Golf Outing to benefit the work of NCADD-MD was a great success. The weather was perfect and the NFM team made a strong showing, with NFM-er Amy Fichter earning closest-to-the-pin honors on 13 as her tee shot came to rest 2’11” from the hole.”

Jan Ozga, President of NFM Lending, and several Loan Originators participated in the event.

“It is an honor once again for NFM Lending to support the NCADD-Maryland,” said Ozga. “The job of bringing awareness and solutions to addiction is a tireless one, and David Nelson and his team are incredible ambassadors to this end. It’s up to all of us to seek measures to curb the problem of addiction that has crippled our communities, torn apart our families, and left those afflicted feeling helpless. NFM couldn’t be prouder to be part of this event.”

NFM Lending is proud to support local organizations, like NCADD-MD as they work to improve our communities. For more information about NFM Lending’s nonprofit work, click here.

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All FHA Case Transfer Requests must be sent in writing via email to: FHAINFO@nfmlending.com. The request must include the FHA Case number, the new lender’s Origination ID or Sponsor ID, the full subject property address, and a letter signed and dated by the borrower expressing desire for the transfer.
Request for payoff should be submitted to the current servicer of the loan:
If your loan is being serviced by the NFM Lake Zurich Servicing Center, please call 1-866-352-6802 to request a payoff. You can also request a payoff via the online borrower portal, if you are a registered user on the portal.
If your loan is being serviced by the NFM Lending Linthicum Maryland Office, you may submit the request to Servicing@nfmlending.com or call 1-866-765-1827.
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