Lake Forest, Il, Aug. 31, 2023 (GLOBE NEWSWIRE) -- Diamond Residential Mortgage Corporation (DRMC) reaffirms its commitment to underserved communities by introducing a new enhancement to its Fannie Mae and Freddie Mac offerings. This initiative, which offers rate incentives based on property location, paves the way for expanded homeownership opportunities and reaffirms DRMC’s dedication to strengthening communities.
Paul Diamond, CEO of DRMC, stated, "Our primary objective has always been to ensure reliable mortgage solutions for every deserving individual. This enhancement emphasizes our ongoing effort to strengthen communities, ensuring broader homeownership accessibility."
The distinguishing feature of this initiative is its emphasis on offering rate incentives for properties located in underserved communities, unlike most incentive programs that focus on loan applicant details. If a borrower qualifies for the agency loan, they automatically have access to the associated rate incentives - regardless of income, loan size, or first-time homebuyer status. This transparent, location-centric approach significantly simplifies the qualification process, making homeownership more attainable to a larger segment of the population.
Tammy Moore, Division President at DRMC, added, "The efficiency with which loan officers can determine property eligibility through this enhancement is unprecedented. This not only facilitates smoother transactions but also promotes community investment."
Realtors collaborating with DRMC will find this initiative particularly beneficial, enabling them to offer potential homeowners a streamlined pathway to property ownership in these areas. Furthermore, customers working directly with DRMC can tap into this enhancement, reinforcing DRMC’s role as a trusted partner in their homeownership journey.
For detailed information about this initiative or to understand its implications for potential borrowers or partners, contact DRMC directly at diamondresidential.com
About Diamond Residential Mortgage Corporation:
Diamond Residential Mortgage Corporation is a mortgage lender with corporate headquarters in Lake Forest, Illinois, licensed to originate and service mortgage loans in 21 states. DRMC is approved to originate FHA, VA, USDA, and conventional mortgage loans and several mortgage loan products offered by private investors. It is an approved Freddie Mac and Fannie Mae Seller/Servicer and Ginnie Mae Issuer. Founded in 2009 by Paul Diamond, DRMC has since expanded to over 30 branch locations across the United States. DRMC is not affiliated with or acting on behalf of or at the direction of any governmental body or agency. DRMC is an Equal Housing Opportunity lender, NMLS #186805, NMLS Consumer Access.
For more information, visit https://diamondresidential.com/.
[Source publication: https://www.globenewswire.com/news-release/2023/08/31/2735653/0/en/Diamond-Residential-Mortgage-Corporation-Enhances-Offerings-to-Strengthen-Underserved-Communities.html]