Launch of Mortgage Warehouse Network Offers Solution for Banks to Quickly Enter the Warehouse Lending Industry
Mortgage Warehouse Network, the only service provider to offer mid-size banks a simplified and cost-effective way to participate in warehouse lending, has launched a first-of-its-kind "turnkey" solution that includes the back office operations, systems and experienced personnel that banks need to establish and maintain highly profitable warehouse lines quickly, safely and economically. With this ready-to-deploy solution, Mortgage Warehouse Network is providing banks with a fast, safe and simple way to get into one of the most profitable lines of business in the banking industry, at a time when the industry is in dire need of warehouse lending sources.
Houston, TX (PRWEB) May 15, 2009
Mortgage Warehouse Network, the only service provider to offer mid-size banks a simplified and cost-effective way to participate in warehouse lending, has launched a first-of-its-kind "turnkey" solution that includes the back office operations, systems and experienced personnel that banks need to establish and maintain highly profitable warehouse lines quickly, safely and economically. With this ready-to-deploy solution, Mortgage Warehouse Network is providing banks with a fast, safe and simple way to get into one of the most profitable lines of business in the banking industry, at a time when the industry is in dire need of warehouse lending sources.
"In these times of low interest rates and surplus capital, banks are looking for ways to bring higher returns on equity while still staying in safe investments," says Dennis Ferstler, Mortgage Warehouse Network's chief executive officer. "Mortgage Warehouse Network answers that need and provides exceptional return-on-equity based on a safe business platform. Many banks are discovering that warehouse lending is not only one of the most lucrative, profitable and safe investment areas for banks, it's also now fast and easy to establish."
Mortgage Warehouse Network's ready-to-deploy solution allows banks to establish a warehouse line, without the investment, time and development effort involved in creating an entirely new bank division from the ground up. With Mortgage Warehouse Network, banks have the ability to fund their first loans within 60 days of signing up. Mortgage Warehouse Network provides the systems, policies, procedures and human capital required to initiate and maintain a warehouse line, in addition to providing the financial modeling and managing the ongoing credit analysis.
"We are essentially boarding single family mortgage loans at a discount for an average of 15 days," says Jeff White, chief operating officer of Mortgage Warehouse Network. "A lot of banks are interested in entering the warehouse lending space, but simply don't want to go through the time, hassle and financial commitment of creating an entirely new division. Now they don't have to. Mortgage Warehouse Network gives fast, simple and economical way to capitalize on the industry's demand for warehouse lines, while helping restore health to the housing industry."
Mortgage warehouse lines provide banks with a unique opportunity for to earn high returns on short term investments on single family mortgages, while leveraging under-utilized equity. "From a risk standpoint, the warehouse lending business is now one of the best businesses a bank can be in because the industry is only funding safe, pre-approved agency paper," adds White.
Mortgage Warehouse Network utilizes one of the most powerful technology platforms in the industry providing seamless and transparent operations, funding logs, fraud detection, redundant underwriting and real time reporting. This comprehensive database contains everything the bank needs and can be easily integrated into their general ledger and bank software, eliminating errors that often occur with manual processes.
Mortgage Warehouse Network is offering a limited number of strategic alliances for qualified banks interested in entering the warehouse lending space.
About Mortgage Warehouse Network
Headquartered in Houston, Texas, Mortgage Warehouse Network is a national provider of turnkey warehouse lending solutions, offering banks the necessary warehouse services and expert staffing to enter the warehouse lending space. For additional information, email info(at)MortgageWN. com, call (281) 616-5888 or visit www. MortgageWarehouseNetwork. com.
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