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Article: Teaming Up With Builders To Sell Loans.(HomeBank Mortgage Corp.)(Brief Article)
- Article from:
- American Banker
- Article date:
- November 17, 2000
- Author:
CopyrightCOPYRIGHT 2000 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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With high mortgage rates and a weak purchase market forcing lenders to seek more creative ways of originating loans, HomeBanc Mortgage Corp. is trying to forge alliances with homebuilders.
The Atlanta lender will offer marketing and technology tools to builders that agree to refer buyers for mortgages. HomeBanc will promise quick approvals -- or rejections, so the builders are not left with unsold properties.
A builder services group has been formed to establish such alliances, and HomeBanc says it has signed up two Atlanta homebuilders so far: Brayson Homes and one the lender said it was not yet free to identify.
One hundred loans are now ...