NMP - October 2016 - 13

American Dream. That's why we're excited to work with Freddie Mac to create a greater pathway to homeownership for more people," said Patty Arvielo, president of New American Funding. Your Path puts affordable homeownership within reach for underserved communities: l Self-employed workers: Provides flexible selfemployment verification l Seasonal employees: Accepts shorter secondary income history l Multi-generational families l Buyers using cash toward the purchase l Gives consideration for nontraditional income sources l Expanded guidelines underwriting is the standard, Providing access to credit for more consumers to enjoy the benefits of homeownership companies must use both automated and manual underwriting, which allows underwriters to individually review a borrower's financial profile in order to make sure qualified buyers aren't denied access to credit opportunities. As a result, Freddie Mac decided to work with New American Funding and Alterra Homes Loans as a "By collaborating we can put what matters most first, better serving underserved consumers and helping them build wealth through homeownership," said Jason Madiedo, CEO of Alterra Home Loans. "We are excited to partner with Freddie and NAF in this effort." In a time when automated continued on page 18 Land More Small-Balance Commercial Mortgages Offer your clients smart solutions from Silver Hill. Partner with a proven national lender and make a big impact on your bottom line. Our team's experience has helped professionals like you close and fund more than 35,000 transactions. Freddie Mac Partners With New American Funding and Alterra on New Pilot Program Make the jump. See rates and property types at silverhillfunding.com or call us at 888-988-8843 Freddie Mac, in partnership with New American Funding and Alterra Home Loans, has announced the launch of Your Path, a new loan program that makes affordable homeownership opportunities available to underserved communities. After researching the U.S. housing market, Freddie Mac identified that certain demographics were experiencing obstacles with purchasing a home. Your Path provides flexible financing options to responsible lenders who serve a diverse range of homebuyers. "We have a passion for making sure everyone has an equal opportunity to achieve the Silver Hill Funding is a Division of Bayview Loan Servicing, LLC. NMLS# 2469. 4425 Ponce De Leon Blvd. Coral Gables, FL 33146 Copyright 2016 Bayview Loan Servicing, LLC. SHF-0400-002-05 Silver Hill Funding programs are offered to qualified commercial lending institutions and are not applicable to the general public and/or individual consumers. This information is for lending institutions only, and not intended for use by individual consumers or borrowers. Programs may be cancelled or modified at any time without any prior notice. Programs may not be available in all jurisdictions. Licensing information may be found at www.bayviewloanservicing.com n National Mortgage Professional Magazine n OCTOBER 2016 Loan amounts from $250k to $1 Million 13 NationalMortgageProfessional.com quickly populate the rate sheets, which can be exported to Excel or other desired formats. On-thefly changes can be made throughout the day that reflect current investor pricing and best execution can be simultaneously run on all products for all investors. The rate sheet generator leverages OpenClose's DecisionAssist Web-based PPE, which houses an extensive library of up-to-date investor guidelines and pricing. The PPE is maintained by OpenClose's team of mortgage business analysts. DecisionAssist integrates with OpenClose's LOS platform, LenderAssist, or it can also be utilized as a standalone PPE. Investor programs can be privatelabeled, customized for branding, and pricing, profit margins and fees can be controlled by investor, channel, company or branch. "The response that we have been getting from lenders is that this is one of the best rate sheet automation tools they have ever seen. There is a wow factor when you see it," said Vince Furey, senior vice president of lending solutions at OpenClose. "Working together, our rate sheet generator and DecisionAssist PPE delivers speed, accuracy, visibility and ease of use that makes lenders more profitable and efficient. Further, it instills a level of confidence in originators that they can trust." http://www.NationalMortgageProfessional.com http://www.silverhillfunding.com http://www.bayviewloanservicing.com

Table of Contents for the Digital Edition of NMP - October 2016

Table of Contents
NMP - October 2016 - Cover1
NMP - October 2016 - Cover2
NMP - October 2016 - 1
NMP - October 2016 - Table of Contents
NMP - October 2016 - 3
NMP - October 2016 - 4
NMP - October 2016 - 5
NMP - October 2016 - 6
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NMP - October 2016 - Cover3
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