CitiMortgage, St. Louis is offering an extensive suite of mortgage and construction loan financing options designed exclusively for HouseRaising Inc. homebuyers. The partnership allows CitiMortgage to be the sole lender with "the right of first offer on all construction and permanent mortgage financing" to HouseRaising, a Charlotte based company that provides a patented homebuilding and management process to buyers who act as contractors in building their own homes. According to senior vice president of CitiMortgage's retail lending business, Fred Bolstad, the lender's goal is "to provide as many outlets for homeownership as we can." HouseRaising chairman and CEO, Charles Skibo noted that one of the main advantages to the partnership consists in the CitiMortgage broad range of lending options and its geographic presence that serve both HouseRaising and its customers. HouseRaising said the new CitiMortgage product features a single closing process, fixed rate financing, flexible reserves for change orders, a built-in review of the contractor and construction/renovation project, and a range of financing and payment options.
-
The RMBS notes benefit from geographic diversity and credit enhancement.
8h ago -
A Consumer Financial Protection Bureau "waives any alleged noncompliance" by the mortgage company while continuing to dole out redress to borrowers.
8h ago -
Refinance apps made up more than 40% of all mortgage applications last week, driving an uptick as consumers seek out cheaper mortgage payments.
11h ago -
The chairman and regulator of Fannie Mae and Freddie Mac pointed to Jermone Powell's recent testimony about renovations to the Federal Reserve's headquarters.
11h ago -
It's a rare theft of trade secrets complaint by the industry leader, which stayed out of the spate of litigation between competitors during the refinance boom.
July 2 -
Navy Federal Credit Union will not pay a $15 million fine or $80 million in restitution to service members who were illegally charged surprise overdraft fees when their accounts had sufficient funds.
July 2