National Family Mortgage Sees 225% Increase In Loans Originated
National Family Mortgage, the nation’s leading peer to peer mortgage loan originator, has announced that the company has originated more than $30 million in mortgage loans.
Here is the press release:
BOSTON, MA, Apr 17, 2012 (MARKETWIRE via COMTEX) — National Family Mortgage, America’s premier peer-to-peer lending solution for home loans between relatives, today announced that it has passed $30 million in total mortgage loan origination. This significant industry milestone continues a streak of six consecutive quarters of record acceleration, a category best 225 percent year-over-year increase in peer-to-peer mortgage loan volume.
“Our record breaking acceleration is a true reflection of our commitment to helping families save money,” said Timothy Burke, National Family Mortgage’s CEO and Founder. “Our Win-Win Mortgage product has already saved Borrowers millions of dollars, while Investors have earned solid returns. We look forward to a very busy summer.”
Approximately 49 percent of National Family Mortgage loans have been obtained by consumers to fund home improvement projects or to refinance institutional mortgage loan debt. Other consumers have used National Family Mortgage products to help fund the purchase of a home. Interest rates on tax-deductible mortgage loans through National Family Mortgage average 3.49 percent — well below the non-tax-deductible average APR of 9.13 percent offered by other peer-to-peer lending companies. This difference can mean thousands of dollars in savings for Borrowers. Intrafamily mortgage loans through National Family Mortgage offer unparalleled savings, flexibility, and protection.
“National Family Mortgage is a true peer-to-peer lending company; we’re not a bank in disguise,” said Burke. “Our innovative, transparent mortgage solution is changing the industry for the better. We’re empowering consumers to reach their financial goals, achieve their personal dreams, and keep their money where it belongs — with their own family.”
About National Family Mortgage
National Family Mortgage is an online peer-to-peer lending company committed to offering consumers alternatives to traditional and costlier forms of home financing. National Family Mortgage has developed a safe and easy way for families to structure real estate loans with their relatives — thereby helping people arrange affordable loans, while reducing tax issues, protecting relationships, and keeping money in the family. With interest rates that are typically lower than rates charged by a bank, National Family Mortgage allows consumers to take major steps toward achieving their dreams with help from family, while saving thousands of dollars.