COSTA MESA, CA—Locally based financing companySecure One Capital has improved its capacity tofund government-backed loans quickly by adding anew VA underwriter to further decreasefunding times. The firm says it can provide abetter experience for borrowers than other financing channelsbecause it has the ability to originate and fund all loans in-housein order to expedite financing, and it offers more-aggressivemortgage rates because it funds directly offgovernment lending guidelines with no lender overlays.

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Due to the firm's record-breaking Q4 2013 capping off a strongyear, it was able to relocate to larger offices here and offer newbranch opportunities. Secure One specializes in governmentfinancing programs such as FHA, VA andHARP refinances and anticipatesthat the trend of mortgage rates for 30-year and 15-yeargovernment-backed loans dropping will continue. Rates for theseloans have been dropping since September and have now reached thelowest levels in more than a year.

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The firm is an unsupervised FHA- and VA-endorsed mortgagee. Bothagencies require all mortgage lenders to receive approval prior tooffering FHA and VA loans, but interestingly, not all lenders whoare approved specialize in VA and FHA loans. Secure One, on theother hand, does have that specialization and has been adirect-mortgage lender since 1995.

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With a decline in interest rates, the firm anticipates that moreborrowers with existing FHA and VA loans will refinance. Theseborrowers are eligible for streamline refinances with simplifiedunderwriting requirements and less paperwork. A FHA streamlinerefinance doesn't require an appraisal, employment verification,income verification or credit-score verification. Also, there is noLTV limit, meaning even borrowers that are underwater can qualifyif they meet other requirements. For a VA streamline, eligibleborrowers do not need to go through another credit check orappraisal.

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GlobeSt.com was unable to reach Secure One before deadline todiscuss more thoroughly why its status as an unsupervised FHA- andVA-endorsed mortgagee and the addition of a new VA underwriterallows it to provide better services for borrowers.

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As GlobeSt.com reported in June, real estatelending in its many forms is back, and the arenais more competitive than ever, said panelists at last month'sRealShare National Investment & Financeconference in Los Angeles. Both domestic and internationalinvestors continue to seek a piece of the pie, driving pricingupward and making yields harder to find.

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Carrie Rossenfeld

Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.