First Horizon Launches Builder Program

First Horizon Home Loans, Irving, Texas, has announced a program offering homebuilders in Baltimore and Washington, and eventually nationwide, features such as combined construction and mortgage financing and various forward commitment options.The Builder Sales Initiative will also provide "Spec Mover" 30-day rate options to help builders sell finished homes quickly, as well as various rate-lock options, the company said. Dan Schmidt, First Horizon's national builder sales director, will head up the initiative. "Builders have unique financing needs -- that's why they prefer to work with a lender that understands these needs," said Jeffrey Brown, executive vice president of First Horizon's Eastern Division. The company is a subsidiary of First Tennessee National Corp., which can be found online at http://www.firsttennessee.com.