prospect mortgage: Prospect Mortgage Acquires Certain Aspects of Impac Mortgage - 01/14/14 05:20 AM
In 2014, we are going to see a significant increase in the amount of consolidation of companies within the mortgage industry.  It was announced today that Prospect Mortgage has closed on the purchase of certain operations of Impac Mortgage. 
 
The link to the full article can be found on Housing Wire.  Impac Mortgage had announced the change of direction of its business in December. 
 
As QM and ATR rules go into place this month, many of the smaller companies are struggling to wade through the compliance aspects of implementing those changes.  Many of these smaller companies have and will soon come to … (3 comments)

prospect mortgage: Fannie Mae Eliminates 3% Down Mortgages - 01/12/14 03:45 AM
In November 2013, Fannie Mae increased the minimum required down payment from 3% to at least 5% down on Primary Residences.  This change was due in part to Qualified Mortgage and Ability to Repay regulations that went into effect on January 10, 2014.
 
The 5% minimum down payment requirement applies both to HomePath® and regular Conventional mortgages.  HomeStyle® Renovation mortgages already required a 5% minimum down payment.
 
 
… (3 comments)

prospect mortgage: Happy New Year's Day - 01/01/14 06:24 AM
Happy New Year's Day from Prospect Mortgage. 
Wishing you a great 2014!!!!

 
We look forward to being your resource for all of your mortgage needs in 2014 and beyond. 
… (1 comments)

prospect mortgage: Todd Duncan Joins Prospect Mortgage as Chief Performance Officer - 06/05/09 03:26 PM
Todd Duncan Joins Prospect Mortgage as Chief Performance Officer
Prospect Mortgage (www.MyProspectMortgage.com) has announced that Todd Duncan, a renowned motivational speaker, sales trainer and best-selling author, has joined the company to lead a comprehensive sales, leadership and time management training program designed to drive its national sales team to the highest performance level in the industry.
Duncan brings 20 years experience as a mortgage industry sales trainer and motivational speaker to Prospect Mortgage, one of the nation's largest independent residential retail lenders. The author of seven sales performance, self-improvement and time management books, including two New York Times bestsellers (High Trust … (0 comments)