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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 ...

American Mortgage Consultants acquires business unit from Stewart Lender Services

The business unit includes credit, compliance, origination and servicing quality control reviews, as well as the due diligence and quality control-related technologies.

As a result of the acquisition, Stewart’s employees will be transitioned to AMC and will continue to work from existing Denver and Farmington Hills, Michigan, offices.

AMC’s corporate headquarters will stay in New York City, and the main production facility will remain in Tampa, Florida.

“The acquisition will expand our service offerings in the agency quality control and servicing quality control areas and allow AMC to offer a broader set of services to existing and new clients including software-as-a-service offerings,” said Franco.

“In addition, we will be expanding our existing due diligence capacity with the significant increase to our existing Denver footprint and adding a new underwriting center in Farmington Hills, Michigan,” said Franco.

Embrace the Digital Mortgage as a Competitive Advantage ...

The digital mortgage is more of an ideal than it is a concrete product.

While precise definitions vary, the term generally describes a smooth customer experience that may not even require a phone call or branch visit. It could be an intuitive process for applying for a loan online, perhaps with prepopulated data to save on typing. Borrowers upload financial documents and electronically sign disclosures. It can go as far as a fully paperless experience where all documents are executed electronically.

Embracing the concept can provide a competitive advantage in the mortgage market at a time when nonbanks are gobbling up banks' share of originations.

Digital mortgages are different than e-mortgages, which have been around for more than a decade. The latter term refers specifically to a loan that is backed by an electronic promissory note with an electronic signature. Digital mortgages may sometimes meet that definition, and they may have electronic closings. What makes them distinctive, though, is not the technological gizmos involved but the end result for the borrower.