No Red Tape Launches Zero-Down Unit

Faithful to its one-product-company niche style, jumbo and super jumbo loan wholesaler No Red Tape Mortgage has launched Zero Down Mortgage, Sherman Oaks, CA, the first national wholesale lender exclusively dedicated to 100% purchase-only loans, operated through a completely paperless mortgage origination process."Zero Down is the only lender in the country solely providing 100 percent financing on purchase-only transactions," said president and founder of No Red Tape, Blake Scheifele. "Zero Down is taking advantage of the market's need ...As we enter the summer purchase months, Zero Down is effectively positioned for expansion within the mortgage industry by focusing on offering one product." ZDM said it will provide brokers with a single point of contact to manage the entire lending process, from quoting rates to moving files to documents. "Offering one product enables us to provide a streamlined, focused approach to this niche business," said David Klempner, a former broker and industry veteran appointed as ZDM's national production manager.