Market Overview

INTERCAP LENDING (a dba of SUBURBAN MORTGAGE COMPANY OF NEW MEXICO) Launches Renovation Lending Platform Powered by Strategic Alliance with RenovationReady®

Intercap|Renovate selects RenovationReady® as exclusive home renovation resource provider.

Irvine, CA (PRWEB) January 07, 2013

Irvine based residential lender Intercap Lending (“Intercap”) announced today that they have launched a specialized business unit focused on the underserved home renovation lending market. The business unit – Intercap|Renovate - is designed to support Intercap's call center and regional branch network with renovation specific marketing, origination, underwriting, and servicing.

Intercap|Renovate has joined forces with RenovationReady® to provide complimentary services to home buyers interested in renovation or rehabilitation of single family residential properties. RenovationReady's services with Intercap provides property certification, loan processing, and renovation loan administration in 9 states – CA, WA, OR, NM, TX, CO, NJ, NC, and FL. Intercap is expanding its lending territory, adding one state per month and expects to be active in 25 states by year end.

The partnership of Intercap and RenovationReady® brings together more than 50 years of traditional FHA and renovation lending know-how. “Having known the executive team at RenovationReady® since 1997, we are thrilled to bring to a competitive FHA 203K offer to the markets we serve,” stated Lawrence Holguin, President of Intercap Lending.

This collaboration will allow for the potential creation of additional jobs and opportunities for remodeling contractors and mortgage professionals in the Intercap footprint. With the focus on home renovation lending, Intercap|Renovate can serve the home purchase and refinance markets where repairs, health and safety code violations, or other property deficiencies impair the closing process between buyer and seller or current market value.

“I've known the executives at Intercap through two housing downturns. They are in it for the long-term and understand the key to franchise value - building a solid reputation through flawless execution. The management and sales team is committed to fast and reliable origination for borrowers, real estate agents, and asset managers. So, we're thrilled to share our turn-key renovation lending program to support Intercap|Renovate,” said Jim Fraser, of RenovationReady®.

For more information, please contact Jamil Atcha at (949) 208-6868 x1001 or jatcha(at)intercaplending(dot)com.

Suburban Mortgage Company of New Mexico dba Intercap Lending has been assisting borrowers in home financing since 1978. With over 100 years in mortgage management experience, Intercap Lending is dedicated to giving our clients the best possible lending experience. Intercap Lending is an approved FNMA, FHLMC, FHA and GNMA seller/servicer, approved in 9 states and is currently servicing close to $1 billion in residential real estate loans. http://www.intercaplending.com

RenovationReady™ helps real estate professionals and buyers to evaluate and make purchasing decisions on properties. Through a turn-key model of inspection, qualification, and certification, RenovationReady™ ensures that each property's unique needs are addressed, the best loan for that home is provided, and the repair process is completed. RenovationReady® is a joint venture between Granite Companies and Chadron Group, LLC. These companies and their principals have shared experience in managing the nation's largest consumer construction and home improvement platforms for lenders, banks, and government agencies. http://www.renovationready.com

For the original version on PRWeb visit: http://www.prweb.com/releases/prweb2013/1/prweb10293509.htm

 

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