NFM Lending Archives

LINTHICUM, MD, November 3, 2014 — NFM Lending is proud to announce that it has been ranked 73 out of 100 Private Companies in the greater Baltimore area by the Baltimore Business Journal. The ranking is based on 2013 revenue.

David Silverman, founder and CEO of NFM Lending stated, “We are honored that NFM Lending has earned this ranking among so many accomplished companies in the Baltimore Area. Our unique culture, passionate employees, and loyal borrowers will always be the driving force behind our continued success.”

NFM Lending started as a small brokerage shop in Baltimore, Maryland, with 4 loan officers, and it is now a multi-state lender with more than 250 employees, and 36 operating branches. NFM Lending has been listed as one of the “Top 100 Mortgage Companies in America” and one of “The 50 Best Companies to Work for in America 2013” by Mortgage Executive Magazine. It also ranked one of the “Top Mortgage Lenders” by The Scotsman Guide for 2012 and 2013; ranked as one of the “Fastest-Growing” and one of the “Largest Private Companies” by the Baltimore Business Journal for 2012; named a “Top Workplace in Baltimore” by The Baltimore Sun in 2012 and 2013; and numerous other awards.

NFM Lending (formerly NFM, Inc.) is a mortgage lending company currently licensed in 30 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 Lender.”

Everyone that watches home improvement shows, such as “Flip this House”, “Property Brothers”, or “This Old House”, knows that home improvements can help add value to a home. You see examples where the investor/flipper buys a home for an incredibly low price (because the structure is falling apart, or it needs serious maintenance work, or the house is over 100 years old and everything needs to be updated), they do a 20 minute montage showing the remodels, and suddenly, the house is worth double or triple the price! Sounds amazing, right?

The problem with these shows is that they make viewers think that home improvements will substantially add value to a home, and this is not always the case. Some home improvements may add living space or a special touch, but they may not be budget friendly or increase the value of a home. This is because these improvements often end up costing way more than what the return on investment ends up being (here is a great example by Houselogic).

So which home improvements actually do give you “more bang for your buck”? Here are 6 home improvements that have the highest return of investment.

Replacing Your Front Door

According to Remodel magazine’s 2014 Cost vs. Value Report, a steel entry door replacement has a 96.6% return on investment (based on national averages). This means that this low-cost project not only can help you increase the value of your home, it can also increase dramatically your home’s curve appeal. Check out the designs of these front doors for ideas and inspiration.

Deck Addition

With home owners’ ever-increasing love of outdoor living, wood deck additions have and will continue to be a great investment for a home. Having a deck built creates living area in your back yard, and it also helps increase your home’s value with an 87.4% average return on investment. Here are some before and after deck makeovers to get you inspired.

Attic Bedroom Remodel

Remodeling an attic to turn it into a bedroom is a cost-effective way to add livable square footage and another bedroom to a home. This way you can maximize your home’s living space, and feel great since the average return on investment on these remodels are 84.3%. Get some inspirations with these 16 amazing attic remodels.

Minor Kitchen Remodel

The kitchen is one of the most used places in a home, and no one wants to hang out in a cramped or outdated kitchen. A minor kitchen remodel will create a beautiful and custom space, as well as a return on investment on average of 82.7%. Check out this great kitchen remodeling guide for tips and advice.

Window Replacement

Replacing old windows can help improve the look and feel of a home, as well as save on heating and cooling costs. Window replacements have a high return on investment of 79.3% for wood windows, and 78.7% for vinyl windows. Here is an article on how to choose the right windows for your home.

Vinyl Siding Replacement

Vinyl siding is the face of your home, and it has a huge impact on your home’s curve appeal and the overall value of a home. Clean and well cared for siding shows that the home is well taken care of and in good shape. And replacing old siding can return 78.2% on the initial investment. Here is a great guide on how to choose siding for your home.

Home improvements are a great way to maintain a home and add your personal touch. But remember, just because the changes you’ve always wanted don’t have a high return on investment, it doesn’t mean that you shouldn’t do the project. If you are looking to stay in your home for several years, home improvements should be made for your own benefit. But if you are looking to sell your home soon and/or for ways to add value to your home, then thinking about what home improvements that have the best return on investment might be beneficial.

If you are looking to sell your home soon, click here to contact one of our Licensed Mortgage Loan Originators today to learn about what mortgage loan is right for you.

LINTHICUM, MD, October 13^th, 2014 — NFM Lending would like to congratulate Erin Johnson, Mortgage Loan Originator in Maryland, for being named one of the Core Cokes of the Week on October 1^st, 2014. Core Cokes are recognitions made to students excelling in one of the training programs run by The CORE Training, Inc’s Corporate Concierge Team. Many of NFM Lending’s employees follow The CORE’s values and training. NFM Lending is proud of Erin Johnson’s achievement, and wishes her success in the remainder of her training.

To view Erin Johnson’s congratulatory video posted by The CORE, please click here.

NFM Lending (formerly NFM, Inc.) is a mortgage lending company currently licensed in 30 states across 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.”

The CORE Training, Inc. is a professional mortgage and Real Estate coaching company that provides mentoring and coaching to mortgage lenders and Real Estate Agents from all over the country.

Caring for rescue animals requires a lot of time, love, money, and supplies. Throughout the month of June, employees from the NFM Lending corporate office and nearby Maryland branches collected items for the Maryland SPCA and the Baltimore Animal Rescue and Care Shelter, Inc. (BARCS). The items collected were chosen from the rescue groups’ “Wish Lists” located in their websites. The wish lists included items such as pet food, dog and cat treats, toys, beds, and cleaning supplies.

We would like to thank everyone who participated in the wish list collection. It was a great success! Each animal rescue group received a wide variety of items from their list, and was extremely grateful for the donations. We hope we helped lots of dogs and cats have an easier transition to their new forever homes.

What Is Refinancing?

Refinancing is when you get a new mortgage to replace your existing mortgage. Most of the time, people refinance their mortgage when they are looking to reduce their monthly payments using the equity on their home (the difference between the amount owed and how much the home is currently worth).* Other reasons include changing from an adjustable-rate to a fixed-rate mortgage; avoiding balloon payments; cashing out to consolidate debt; consolidating a mortgage and a home equity line of credit; and even addressing family matters such as divorce. When you refinance, your first loan is paid off allowing the new mortgage to be created and placed as a first lien on the property.

Is Refinancing Right For Me?

If you think refinancing your home loan is something you might be interested in, ask yourself the following questions to see if refinancing is a good option for you:

– How long do I plan to stay in my current home?
– How much do I owe on my home?
– What is my interest rate and what are the current interest rates available?
– Can I afford to pay the costs associated with refinancing?
– Why do I want to refinance?

Once you have asked these questions, it’s time to assess your situation. You must check your equity, debt, and available cash, as these 3 items can greatly impact your ability to refinance your home. Here are the reasons why these 3 items are often problems for homeowners who wish to refinance:

When and How to Refinance

Ideally, you only want to refinance your current loan once. Usually, you have to plan to be in your house for a while for refinancing to make sense. You also have to figure out where you stand with your current mortgage and investigate whether or not your loan has a prepayment penalty (where you are charged a fee when you pay off your mortgage early). Furthermore, consider how long it will take you to recoup the closing costs of the new mortgage. Even though you will be making lower payments, extending your mortgage term can wind up costing you more in the long run. Make sure the timing and circumstances allow this to be the right time to refinance your mortgage.

LINTHICUM, M.D., June 23^rd, 2014— NFM Lending (formerly NFM, Inc.) is pleased to announce they ranked in the “Top Mortgage Lenders 2013” by the Scotsman Guide.

Scotsman Guide compiled a list of the nation’s top 75 mortgage lenders by overall volume. Entries were accepted between February 10 and March 28, 2014, along with written verification of each company’s loan volume from a certified public accountant, the company’s chief financial officer, or a similar source.

“We are honored to be included amongst so many well accomplished and successful companies,” said David Silverman, CEO of NFM Lending. “We are especially proud that our quick transformation from primarily refinance to over 80% purchase has happened so successfully and quickly. I am proud of our team and with our collective efforts we will climb this list rapidly towards the top.”

NFM Lending (formerly NFM, Inc.) was founded in March 3, 1998 by David Silverman and his wife Sandy. The company started as a small brokerage shop with 4 loan officers, and it is now a multi-state lender with more than 200 employees, over 29 retail branches, and is licensed in 30 states.

Come join NFM Lending, a highly successful and multi-state company that is at the forefront of the mortgage lending industry. NFM Lending started out as a small brokerage shop and has grown to be an award winning full-service residential mortgage lender. We have been ranked one of the “Top Mortgage Lenders” in 2012 and 2013 by the Scotsman Guide; one of the “Top 100 Mortgage Companies in America 2013” by Mortgage Executive Magazine; and one of the “Fastest-Growing and Largest Private Companies” by the Baltimore Business Journal for 2012.

At NFM Lending, we pride ourselves on working hard to build a positive and collaborative work environment for its employees. We have an open door policy which allows an open line of communication between management and employees. And it is because of these values that NFM Lending has been named one of the “Top 50 Best Companies to Work for in America” in 2013 by Mortgage Executive Magazine; and named a “Top Workplace in Baltimore” by The Baltimore Sun in 2012 and 2013.

If you want to work for a company that has a deep commitment for our communities, dedication for building a positive culture for our employees, and passion for servicing our clients, come work with us!

Are you looking to buy a home but are stumped with some of the terms that Real Estate Agents, Loan Originators, or even websites say? Here are the most commonly used mortgage terms and definitions to help you through the home buying and loan process:

Adjustable-Rate Mortgage (ARM) – An ARM, also known as a Variable Rate Mortgage, is a loan with an interest rate that is periodically adjusted based on a pre-determined index.

Annual Percentage Rate (APR) – The APR is the cost of a mortgage stated as a yearly percentage rate. Since the APR includes points and other credit costs, it is typically higher than the advertised note rate. An APR allows home buyers to compare different mortgages based on loans’ annual costs.

Appraisal – An appraisal is a written analysis, prepared by a qualified appraiser, of a property’s estimated value.

Buy-down – A buy-down is when a lender or builder subsidizes a loan by lowering the interest rate during the initial years of a loan. Payments increase when the subsidy expires.

Closing Costs – The fees charged for services performed, including the home appraisal, loan origination, flood certificate, the title survey, etc.

Debt-to-Income Ratio – This is the ratio that results when a buyer’s monthly payment obligation on long-term debts is divided by his or her gross monthly income.

Down Payment – The part of a property’s purchase price paid by the borrower (i.e., not financed by the mortgage). Down payments can be anywhere from 3-20 percent of the purchase price.

Earnest Money – Earnest money is paid by the buyer to the seller to bind a transaction or assure payment.

Escrow – Escrow is the holding of funds or documents by a third party prior to closing; the funds are usually for payment of taxes and insurance on property.

Fixed-Rate Mortgage – A fixed-rate mortgage has interest rates that remain constant during the repayment period.

Home Equity – Equity is created when the value of your home increases and/or you reduce the amount you owe through your loan payments.

HUD-1 Settlement Statement – Standard, government regulated settlement statement that itemizes the costs of transaction when purchasing a home. Commonly referred to as “HUDs” or “HUD-1s.”

Interest Rate – Also known as the “note rate”, the interest rate is the cost the borrower agrees to pay the lender for borrowing money to finance a loan. The interest rate is shown as an annual percentage of the outstanding loan amount (principal).

Lock-in – A lock-in is a written agreement guaranteeing a borrower a specific interest rate as long as the loan closes and funds before a certain date. A lock-in usually specifies the number of points paid at closing.

Negative Amortization – On negative amortization loans, your monthly payments may not cover all of the interest due. When that happens, the unpaid interest is added to your mortgage balance so that you would owe more on your mortgage than you originally borrowed.

Origination Fee – Fee(s) charged by the lender to the borrower to prepare loan documents, conduct credit checks, inspect and sometimes appraise property. Origination fees are usually charged as a percentage of the loan.

PITI – A borrower’s monthly mortgage payment: Principle, Interest, Taxes, and Insurance.

Points – Fee assessed by the lender, usually to permanently buy a below-market rate. One point equals 1 percent of the loan amount. For example, three points on a $100,000 mortgage is $3,000.

Pre-Paids – Expenses such as interest and escrow reserves.

Prepayment Penalties – Fees that the borrower will incur if the mortgage is fully paid during a “prepayment penalty period”.

Private Mortgage Insurance (PMI) – PMI, which protects lenders against loss if a borrower defaults, is typically required for borrowers making a down payment less than 20 percent. PMI typically requires an initial premium payment of 1-5 percent and also has a monthly fee.

Real Estate Settlement Procedures Act (RESPA) – RESPA is a federal law that allows consumers to review information on known or estimated settlement costs once after application and once prior to or at a settlement. The law requires lenders to furnish the information after application only.

Settlement/Closing – Closing is the meeting between buyer, seller, and closing officer (a lawyer or title/escrow company representative depending on the state) where the property and funds legally change hands by signing all relevant documents.

Settlement Costs – Combination of hard closing costs and pre-paids. Settlement Costs include the origination fee, discount points, appraisal fee, title search and insurance, survey, taxes, deed recording fee, and all other costs.

Underwriting – Underwriting is the process during which the decision is made whether to approve a loans rates and terms based on the borrowers’ credit, employment, assets, and other factors.

Yield Spread Premium (YSP) – A rebate by a lender or investor to a local Loan Officer for closing a loan on a certain product.

Should you have any questions about these mortgage terms or any other that you may have encountered, please contact us!

LINTHICUM, MD., June 16^th, 2014 — NFM Lending is delighted to welcome Jane Floyd and her team to the NFM family. Jane was the founder and President of Diversified Home Mortgage, Inc., a full service mortgage brokerage company based out of Tampa, Florida. Jane will be leading a purchase-focused team, the Diversified Home Group of NFM Lending, out of NFM’s new Tampa, FL, location. The group will continue to service their borrowers with the utmost care, respect, and dedication as they have done so in the past; while receiving support and empowerment by NFM Lending to continue their exemplary growth and exceptional service.

With over 25 years of leadership and residential mortgage experience, Jane attributes her success to her core values: honesty, integrity, exceeding customer expectations, and teamwork. Jane is an active member with both professional and community associations such as: Florida Association of Mortgage Professionals (FAMP) [Board of Trustees], National Association of Mortgage Brokers (NAMB), The Crisis Center of Tampa Bay & Women in Action, Children’s Cancer Center, and the Community Food Bank. In addition, Jane is a CORE Coach with The CORE Training, Inc.

“I met with multiple companies throughout the country and NFM stood out due to their leadership team and passion to move the company forward, without losing sight of their company values and mission. I am excited to be part of a company with so much passion and commitment to its borrowers, employees, and community,” stated Jane. “I am ecstatic to be a part of an organization that that has the enthusiasm and drive to continue to move the company in the right direction and do great things in the residential mortgage industry.”

The new NFM Tampa branch offers Conventional, FHA, VA, USDA, FNMA, Reverse, and many other loan options. The new branch is always looking for qualified Mortgage Loan Originators, Loan Assistants, and Processors for full time positions. NFM Lending is proud to have Jane Floyd and her team on board, and we look forward to their continued success and their contributions to the NFM Team.

LINTHICUM, MD., June 9th, 2014 — NFM Lending is pleased to announce they are now licensed to lend in the state of Louisiana. The residential mortgage lending company is currently licensed in 30 states across the country, after the recent approval by the State of Louisiana.

“The addition of Louisiana affirms our commitment and desire to spread our brand and exceptional service levels in to the deep south. The people of Louisiana have tremendous pride and we are looking forward to earning their valued trust,” said Gregory Sher, Vice President Business Development.

The company started as a small brokerage shop with 4 loan officers, and it is now a multi-state lender with more than 200 employees, and 35 operating branches. NFM Lending has been listed as one of the “Top 100 Mortgage Companies in America” and one of “The 50 Best Companies to Work for in America 2013” by Mortgage Executive Magazine. It ranked as one of the “Fastest-Growing and Largest Private Companies” by the Baltimore Business Journal for 2012; named a “Top Workplace in Baltimore” by The Baltimore Sun in 2012 and 2013; ranked one of the “Top Mortgage Lenders” by The Scotsman Guide for 2012; and has also received numerous other awards.

NFM Lending (formerly NFM, Inc.) is a mortgage lending company currently licensed in 48 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 Lender.”

LINTHICUM, MD, 2 de junio del 2014 — NFM Lending está orgulloso de anunciar la adición de JC Jimenez y su equipo profesional a la familia NFM. Jimenez dirigirá varios equipos concentrados en compras de bienes raíces en los estados de New Jersey, Virginia, y West Virginia. La sucursal en New Jersey será dirigida por Carlos Serrano, mientras las tres sucursales en West Virginia serán dirigidas por David Crookshanks, Kimberly Lemasters, y Walter Stowers.

Originalmente de Colombia, Jimenez ha dedicado su carrera hipotecaria a servir el mercado hispano en el corredor de DC. Con más de 17 años de experiencia en el sector de préstamos hipotecarios residenciales y un título universitario en ingeniería civil de la Universidad del Estado de Michigan, Jimenez tiene la capacidad de liderazgo para poder dirigir su equipo profesional en ofrecer el mejor servicio a clientes y continuar el crecimiento ejemplar de sus sucursales.

“Cuando me reuní con los miembros de NFM, sentí una conexión instantánea con los empleados y los valores de la compañía, y su determinación de hacer una diferencia en el sector hipotecario,” dijo Jimenez. “Es claro que la alta gerencia está involucrada en la compañía y es parte del éxito de la empresa. Nosotros estamos emocionados de ser parte del futuro y éxito de NFM.”

Las nuevas sucursales abrieron oficialmente la semana del 10 de abril del 2014 y están localizadas en las siguientes direcciones:

New Jersey NJ602 – 333 Meadowland Parkway, Secaucus, NJ 07094
Virginia VA601 – 1577 Spring Hill Road, Suite 300, Vienna, VA 22182
West Virginia WV603 – 555 South Randolph Avenue, Elkins, WV 26241
West Virginia WV604 – 102 Guyan Drive, Suite B, Mac Arthur, WV 25873
West Virginia WV605 – 4751 Route 10, Suite 104, Baboursville, WV 25504

Las nuevas sucursales de NFM Lending ofrecerá préstamos hipotecarios convencionales, FHA, VA, USDA, FNMA, hipotecas revertidas, y muchas más opciones de préstamos. Las nuevas sucursales están siempre buscando agentes de préstamos calificados, asistentes de préstamos, y procesadores para posiciones de tiempo completo.

NFM Lending (anteriormente conocido como NFM, Inc.) es una compañía de préstamos hipotecarios actualmente con licencia en 29 estados en los EE.UU. La compañía fue fundada en la ciudad de Baltimore, Maryland en 1998. La compañía atribuye su éxito en el sector hipotecario a su firme compromiso con sus clientes y a la comunidad. NFM Lending se ha plantado firmemente en el mercado de préstamos residenciales como el prestador hipotecario americano que hace sentido común.