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Operations team surprises clients at loan closing to say “thank you” for business

 

Buying a home is a big investment, and finding a mortgage lender that can provide the right home loan option for you is essential for supporting your long-term financial goals.  But when you decide to become a homeowner, working with a mortgage lender who understands that clients are people, not financial transactions, can be equally important.  At Prosperity Home Mortgage, LLC (Prosperity), our values and how we approach our customers  ̶  and each other as a team  ̶  define us as a company. Having the best attitude and customer service are what differentiates us and creates an extraordinary customer experience.

Accordingly, we would like to recognize our local operations team in Chantilly, Virginia, for choosing to put those values into action by recently surprising two clients at their settlement office just before closing on their first home.  In attendance with clients Savannah & Alex Weston were Jim Bruhns (Area Operations Manager), Tim Branick (Regional Underwriting Manager), Vicky Ethington (Closing Team Lead), Lakisha Stephens (Processing Team Lead), Sheila Whitely-Mullins (Area Underwriting Manager), and Tim Jedamski (Branch Manager).

“We wanted to personally congratulate and thank our clients for their business, but more importantly, to show them that behind all the e-mails and phone calls during the financing process is a group of people who really cares and wants what is best for them, the clients.  And at the same time, it was a perfect opportunity to remind ourselves that the work we do matters to real people,” said Tim Jedamski, the local branch manager who also attended the closing.

Your Local Lender

At Prosperity, a fundamental goal among our mortgage professionals is to be recognized as a large, well-established lender with a welcoming, local team of people who truly care.  We believe every time our team members pick up the phone, every time we respond to an e-mail, every time we identify and solve a problem  ̶  these are opportunities to showcase our exceptional customer service.

We are committed to setting the highest standard for customer service and consistently exceeding the expectations of our clients, which helps us achieve our mission of creating an extraordinary customer experience.

The Prosperity Advantage

If you’ve made the decision to buy a home, please contact a local mortgage consultant to help you get started.  Our team of mortgage professionals is available to guide you every step of the way and help ensure your home buying process is a smooth one.  It is our commitment to create a positive mortgage experience so you can get settled in your new home.  And even after your loan settlement, our team of mortgage professionals is available to help with all your future home-financing needs.

Click here for more information about us!

 

 

 

All first mortgage products are provided by Prosperity Home Mortgage, LLC. (877) 275-1762. Prosperity Home Mortgage, LLC products may not be available in all areas. Not all borrowers will qualify. Licensed by the NJ Department of Banking and Insurance.  Licensed by the Delaware State Bank Commissioner.  Also licensed in District of Columbia, Georgia, Maryland, North Carolina, Pennsylvania, South Carolina, Tennessee, Virginia, and West Virginia.

NMLS ID #75164 (NMLS Consumer Access at http://www.nmlsconsumeraccess.org/)

©2015 Prosperity Home Mortgage, LLC. All Rights Reserved.


Know Before You Owe

Sep 16
3:20
PM
Category | Prosperity News

New TRID rule to take effect on October 3, 2015

Say good-bye to complicated home loan and closing documents. New mortgage disclosure requirements from the Consumer Financial Protection Bureau (CFPB) will soon change the way mortgage and settlement companies do business with their clients. These regulations, which are a result of the Dodd-Frank Wall Street Reform and Consumer Protection Act, are designed to simplify the settlement process for consumers, making it more transparent and easy to understand.

What’s occurring?

Beginning on October 3, 2015, you will no longer receive multiple disclosure forms and statements when you apply for or get ready to close on a home loan. The Good Faith Estimate (GFE) and Truth in Lending (TIL) disclosure, which are currently provided when you apply for a home loan, will be replaced by the Loan Estimate. The consolidated Loan Estimate clearly outlines the terms and features of your loan, as well as what can (and cannot) change. It’s a streamlined form that, according to the CFPB, will help you “know before you owe.”

Similarly, your standard closing documents—the final TIL disclosure and HUD-1 settlement statement—will be replaced by the Closing Disclosure. Like the Loan Estimate, the Closing Disclosure is a streamlined summary of the loan terms, projected payments and closing costs. Additionally, it is designed so you can easily compare the Closing Disclosure with your Loan Estimate to ensure the loan on which you close is the same as the loan you chose and for which you were approved.

Click here for a side by side comparison of the old and new forms.

With the new forms also come new deadlines that mortgage and settlement companies have to meet. For example, once you apply for a home loan with a mortgage lender, that company is required to deliver or place in the mail to you the Loan Estimate no later three business days after receiving your application. Additionally, the Closing Disclosure must be delivered to you no later than three business days before closing. What’s important to note is that if any changes are made to the Closing Disclosure, a new document must be reissued, and in certain cases, this resets the clock on that three-day period.

Could these regulations affect a home closing?

It’s all about deadlines, especially with the Closing Disclosures. A loan cannot close if consumers do not receive their Closing Disclosure in the three business-day time period. So if one of the below changes occurs after they received the initial Closing Disclosure, the clock will be reset, a new form will have to be issued and the closing pushed out three days.

  • Change to the loan’s Annual Percentage Rate (APR)
  • Modification of the loan product
  • Addition of a pre-payment penalty fee

How can you ensure a seamless real estate settlement in the new regulatory world?

While the key changes, from a consumer perspective, occur in forms and deadlines, there are numerous other requirements that mortgage and settlement companies have to implement. To ensure that your real estate transaction occurs on time and as expected, you should not only educate yourself on what’s occurring before the new regulations go into effect, but also make sure you’re working with a company that’s prepared for the new rules. Our team at Prosperity Home Mortgage, LLC, for example, have been preparing for the changes over the past two years and are ready to handle them with ease.

 

Questions about the new disclosures? Contact your local mortgage consultant today!

 

 

 

All first mortgage products are provided by Prosperity Home Mortgage, LLC. (877) 275-1762. Prosperity Home Mortgage, LLC products may not be available in all areas. Not all borrowers will qualify. Licensed by the NJ Department of Banking and Insurance.  Licensed by the Delaware State Bank Commissioner.  Also licensed in District of Columbia, Georgia, Maryland, North Carolina, Pennsylvania, South Carolina, Tennessee, Virginia, and West Virginia.
NMLS ID #75164 (NMLS Consumer Access at http://www.nmlsconsumeraccess.org/)
©2015 Prosperity Home Mortgage, LLC. All Rights Reserved.


Prosperity Home Mortgage, LLC, has earned recognition for exemplary service in a recently aired episode of Lifetime TV’s Designing Spaces show that focused on the benefits of homeownership.

The segment starred Mortgage Bankers Association President and CEO David Stevens, along with Keith and Courtney Williams and their family from the Washington, D.C., region. The Williamses worked with Jody Eichenblatt, a mortgage consultant for Prosperity in Arlington, Va., for their home financing. Although they did not name Eichenblatt directly in the segment, they spoke highly of his service, commending how responsive and communicative he was during the homebuying process.

“We’re very proud of Jody and his role in helping the Williams family purchase their dream home,” said Tim Wilson, CEO of Prosperity. “Jody is just one example of our many fantastic mortgage consultants who provide knowledgeable, professional, top-notch service to all of our clients. We have an amazing team at Prosperity, and we’re thrilled to see Keith and Courtney sharing their story.”

At Prosperity, we are committed to creating a positive mortgage experience, setting the highest standard for customer service, and consistently exceeding the expectations of our clients. Our team of mortgage professionals is available to guide you every step of the way to help ensure your home buying process is a smooth one.  If you have any questions about buying a home, contact a mortgage consultant near you!

Click here to view the segment.

 

 

 

All first mortgage products are provided by Prosperity Home Mortgage, LLC. (877) 275-1762. Prosperity Home Mortgage, LLC products may not be available in all areas. Licensed by the NJ Department of Banking and Insurance.  Licensed by the Delaware State Bank Commissioner.  Also licensed in District of Columbia, Georgia, Maryland, North Carolina, Pennsylvania, South Carolina, Tennessee, Virginia, and West Virginia.

NMLS ID #75164 (NMLS Consumer Access at http://www.nmlsconsumeraccess.org/)

©2015 Prosperity Home Mortgage, LLC. All Rights Reserved.


Welcome to our new mortgage team in the greater Chattanooga area!

Prosperity Home Mortgage, LLC, has expanded its operations into the greater Chattanooga metropolitan area. In April, a team of four knowledgeable and experienced mortgage professionals from RealtyCenter Mortgage, LLC, joined Prosperity. The team, which includes Jennifer Toomey, Ronnie Burk, Jennifer Bryant and Raina Camp, will serve the financing needs of homeowners and homebuyers in southeast Tennessee and northwest Georgia.

Going forward, they will serve as the lending partner of Berkshire Hathaway HomeServices Realty Center. In that role, the Prosperity team will work closely with Realty Center’s over 150 real estate professionals in its five local offices, helping the agents and their clients to achieve their real estate goals.

“RealtyCenter Mortgage built a reputation for providing the highest quality of service and support to clients in the greater Chattanooga area. By bringing their team to Prosperity, our company will deliver even more exceptional service and competitive rates to buyers and sellers in Tennessee and Georgia,” said Tim Wilson, CEO of Prosperity. “At Prosperity, we lead the way with cutting-edge tools and technology, as well as competitive loan products, and we look forward to the energetic partnership created by teaming with these exceptional mortgage professionals.”

By joining Prosperity, these mortgage professionals gain the advantages of a much larger company with more resources and better technology, while also maintaining the family approach to business that ensures their clients’ continued real estate success. Prosperity offers a wide range of mortgage products, including fixed and adjustable rate mortgages. It is represented by more than 150 mortgage consultants and operates its own in-house processing, underwriting and closing at its five operation centers across the East Coast. Prosperity also coordinates its clients’ appraisals and mortgage fulfillment in-house.

Prosperity is focused on growing its business throughout the East Coast, and the addition of the RealtyCenter team aligns with the company’s long-term growth strategy, according to Wilson.

Locate your local mortgage consultant in Chatanooga, TN here!

Locate your local mortgage consultant in Fort Oglethorpe, GA here!

 

 

 

All first mortgage products are provided by Prosperity Home Mortgage, LLC. (877) 275-1762. Prosperity Home Mortgage, LLC products may not be available in all areas. Licensed by the NJ Department of Banking and Insurance.  Licensed by the Delaware State Bank Commissioner.  Also licensed in District of Columbia, Georgia, Maryland, North Carolina, Pennsylvania, South Carolina, Tennessee, Virginia, and West Virginia.
NMLS ID #75164 (NMLS Consumer Access at http://www.nmlsconsumeraccess.org/)
©2015 Prosperity Home Mortgage, LLC. All Rights Reserved.


Tax time is almost here and many people, when they see their tax bills, will be wondering what they can do to pay less next year. Buying a home continues to provide great tax benefits as well as other advantages for Americans looking to build wealth. Below, top-ranked national real estate expert and consumer advocate Rhonda Duffy shares 5 benefits of buying a home.

"If you're caught in a renting rut or uncertain about joining the ranks of homeowners, you should consider the benefits of buying a home," says Duffy. "Although home prices are slowly inching upward, now is still an excellent time to buy. This is especially true if you're a first-time homebuyer. Here are five benefits of homeownership:"

 

  • Tax advantages: "When tax time rolls around, homeowners are entitled to deduct certain expenses related to their mortgage payments and owning a home. Mortgage interest is typically deductible. In the early years of your loan, this is a sizable amount because a large portion of your mortgage payment is interest. You can deduct mortgage points, which are fees you pay to receive a lower interest rate. You can also deduct your property tax, and you might be eligible to deduct your private mortgage insurance."
  • Appreciation: "When you rent, your money goes to someone else. There's no benefit to you other than a roof over your head. When you buy, you earn appreciation as the value of your home goes up. Instead of paying rent, you'll pay a mortgage and invest in future returns. For example, if you buy a house for $150,000 and five years later, it's valued at $200,000, you have a $50,000 return on your investment."
  • Catching an upswing in home values: Although the increase in home prices nationally slowed last year, prices are expected to continue to rise this year. "If you want to buy before you're priced out of the market, now is the time to make your move," Rhonda says.
  • Lower interest rates: Mortgage interest rates remain at relatively low levels, especially compared to rates that were in the 8 to 9 percent range 20 years ago. "Even as recently as 2007, rates were in the 6 percent range."
  • Pride of ownership: "Perhaps the most satisfying of all the benefits of buying a home is the sense of gratification you feel when you relax in your own home. You can remodel and update as you please, you don't have to rely on a landlord for repairs, and you have a sense of stability."

 

If you're thinking of buying a home, we can help you get started today!

 

 

 

Reprinted with permission from RISMedia. ©2015. All rights reserved.

All first mortgage products are provided by Prosperity Home Mortgage, LLC. (877) 275-1762. Prosperity Home Mortgage, LLC products may not be available in all areas. Not all borrowers will qualify. Licensed by the NJ Department of Banking and Insurance. Licensed by the Delaware State Bank Commissioner. Also licensed in District of Columbia, Georgia, Maryland, Missouri, North Carolina, Pennsylvania, South Carolina, Tennessee, Virginia, and West Virginia.

NMLS ID #75164 (NMLS Consumer Access at http://www.nmlsconsumeraccess.org/)

©2015 Prosperity Home Mortgage, LLC. All Rights Reserved.


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