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Sun American Mortgage - Reverse Mortgage Lender

Sun American Mortgage is a lender, seller and servicer of the government insured Reverse Mortgage. Over twenty years ago, we closed the first ...

BankThink Banks need more skin in the housing finance game

Many realized in the wake of the crisis that this was a big mistake (although a mistake made by a lot of smart people) in the basic design of the inherently risk-creating activity of lending money. Many realized after the fact that the American housing finance system needed more credit skin in the game.

Skin-in-the-game requirements were legislated for private mortgage securitizations by the Dodd-Frank Act, but do not apply to lenders putting risk into Fannie and Freddie. Regulatory pressure subsequently caused Fannie and Freddie to transfer some of their acquired credit risk to investors — but this is yet another step farther away from those who originated the risk in the first place.

That isn’t where the skin in the game is best placed. The best place, which provides the maximum alignment of incentives, and the maximum use of direct knowledge of the borrowing customer, is for the creator of the mortgage loan to retain significant credit risk. No one else is as well placed.

Franklin American Mortgage is NAMB Double Diamond Industry Partner for 2018

“It is an honor to be a NAMB Double Diamond Industry Partner,” said Andrew Taylor – FAMC’s Executive Vice President, Director of National Sales. “Franklin American Mortgage has supported the Mortgage Broker community for over 22 years and through our NAMB partnership we reaffirm our commitment to the Wholesale channel.”

Franklin American Mortgage’s NAMB sponsorships include regional and national NAMB shows as well as a NAMB industry partnership. These sponsorships have helped FAMC grow to become one of the top wholesale lenders in the nation.

About Franklin American Mortgage Company: Franklin American Mortgage is a privately-held mortgage banking firm headquartered in Franklin, Tenn. and licensed to provide residential mortgages across the nation. For nearly a quarter of a century, FAMC has been an industry leader committed to helping families and individuals achieve their dreams of homeownership. For more information about the company and its services, please go to www.franklinamerican.com. Equal Housing Lender, Company NMLS #1599.