February 7, 2012. Since the collapse of the mortgage market in 2007, mortgage professionals and their borrowers have questioned if the fractured industry will ever recover. With Alt-A and subprime products conspicuously absent, borrowers are faced with limited choices if they are unable to qualify for Fannie, Freddie, FHA or VA financing. In lieu of GSE sponsored loans, the other viable option for borrowers is to pursue hard money financing. Typical challenges of hard money loans include: high interest rates, high fees/points, and the general uncertainty that a loan will actually close/be funded.

The hard money subculture has always been an extremely fragmented, regionally focused, mom and pop lending option. Furthermore, most hard money lenders are really hard money brokers who are correspondents for private investors. These private investors are usually wealthy individuals willing to make loans on properties that they would not mind owning. The result is a daisy chain where brokers who are trying to address their borrowers financing needs deal with other brokers who are accommodating their private investors preferences. The biggest loser in all of this is the consumer/borrower, who is forced to endure an unstructured process with an uncertain outcome to chase a loan product that is often ill suited for their needs. Athas Capital Group, Inc. (Athas) has solved these complications and has transformed the typical model resulting in tremendous growth in 2011. In 2011, its loan volume increased year-over-year by 141% based on units and 120% based on the dollar amount funded.

Athas was founded on principles that were designed to specifically address the dysfunctional orientation of the private mortgage market. Kevin OShaughnessy, Chief Operating Officer, states that, We provide our broker and borrower base a streamlined process from initial submission through closing/funding. As an example, we offer detailed rate sheets with pricing matrices tiered by credit buckets for both our residential and commercial products. These rate sheets feed into our comprehensive underwriting guidelines and offer an unprecedented level of transparency and sophistication within the hard money landscape.

Athas has the distinction of being a true portfolio lender because it manages its own discretionary mortgage fund, eliminating the daisy chain and offering predictability to its broker community. Athas lending parameters and structure are determined by its executives, who draw on over 45 years of lending experience. Brian OShaughnessy, Chief Executive Officer, says that, We want every private mortgage application in the country to come across our desk. In order to work towards that goal, we hold our broker base in high regard, offer unparalleled service and execution, and are the low cost option in the private lending space. Athas finances commercial and residential real estate, including owner occupied properties. OShaughnessy adds that I believe we are the only private lending platform that offers par pricing [zero points] and this adds tremendous benefit to our brokers and borrowers.

More information about this company is available by visiting http://www.athascapital.com or calling 877-877-1477.

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Related FHA Mortgage Streamline Press Releases

How awesome would it be to close on a home in Colorado that is $ 1,094,625.00? How much more awesome would it be to close on a home in Colorado with the same amount that is already guaranteed and insured by the VA, with the secured promise to you (a veteran) who would be using their VA Home Loan benefits to pre-qualify for the loan amount? Pretty cool deal, right? Well, getting approved for Colorado Jumbo VA Loans is a reality for many military members who have taken the first step and used their VA loan entitlement to pre-qualify their way through the VA Home Loan process with ease, but taking the first step is one of the reasons many people miss their opportunity.

However, the rewards of Colorado Jumbo VA Loans were finally brought to the surface for all veterans to take advantage of by the recently launched VA Home Loan website for Colorado, which is sponsored by the help of the VA Loan Experts at Security America Mortgage, Inc. The VA loan experts over VA Mortgage Industry concluded that getting pre-qualified for a VA Home Loan (and Jumbo VA Loan) is so easy that the hardest parts are; (a) Knowing what VA Loan Limits are available, and, (b) Taking the first steps of applying for a VA Home Loan with the required VA forms, like the certificate of eligibility and the DD214 form. Taking that first step is the main reason so many veterans hault in the beginning of the VA Application process, because they are simply afraid to take those initial steps toward receiving the VA benefits they so rightly deserve.

The new Colorado Relocation/VA Loan website features detailed location specific information about Colorado including processing VA Home Loans, VA Loan Limits, Colorado Demographics and much more! A few tips over how much the VA Home Loan can be and how the calculations are determined were also featured on the recent YouTube video posted by the company.

The second reason a VA Jumbo Loan is just as good as the Colorado VA Home Loans is because the maximum VA Loan Limit is a lot more than the regular limitations of the Home Loans. In Colorado, the VA Loan Limit can be anywhere from $ 462,500 in Ouray County all the way up to $ 1,094,625 in San Miguel County and Pitkin County.

There are only seven (7) steps in processing Colorado Jumbo VA Loans. This is one main reason why veteran home buyers turn to the VA Jumbo Loan Process and why it is so popular compared to receiving an FHA Jumbo Loan. Since Jumbo VA Loans are so similar to the approval process of a VA Home Loan, below simply lists the summaried version of “The Seven (7) Easy Steps of the VA Home Loan Process” for review:

-Step 1. Home Buyer Locates the Real Estate Property of their Dreams.

-Step 2. Home Buyer Applies with a Lender’s Application Form, Beginning the VA Home Loan Process.

-Step 3. Home Buyer Requests the Required VA Forms to the VA Loan Experts for Review:

-DD214 VA Request Form (Discharge/Separation Papers Showing the Last Period of Service).

-Certificate of Eligibility Request Form- COE (Document Showing Entitlement Info according to the VA).

-Step 4. Property is Inspected and Appraised by an Approved VA Inspector/Appraiser.

-Step 5. Calculations of VA Home Loan & Estimates of the Property’s Reasonable Appraised Value is Determined by the Lender – VA Home Loan Froms and Application are sent to the VA for review.

-Step 6. VA Reviews the Application Forms Submitted by the Home Buyer and VA Loan Expert.

-Step 7. The Home Value Amount vs. Calculations of Home Buyer’s Eligibility is Assessed and Determined by the VA. If Application is approved, the Home Buyer gets the VA Home Loan!

Also to keep in mind – since the interest rates can change on a daily basis (and sometimes even a couple times during the one day), its important to shop wise and close fast when you are ready to purchase a home with a VA Jumbo Loan. The interest rates are also based on 30 year mortgages as well as other industry calculated standards. Factors such as your credit, down payment, employment income status, the loan program you decide to choose, and many other things can also affect your interest rate, causing the cost of the monthly payment to fluctuate. The most important thing you can do for your family is to make the wisest choice by taking advantage of the VA Jumbo Loans available to you.

Get Pre-qualified to Buy a Home with a VA Jumbo Loan in Colorado and Contact a VA Home Loan Experts at Security America Mortgage, Inc.

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Related Low FHA Mortgage Rates Press Releases

RenovationReady, a national service provider to lenders active in renovation lending, was recently chosen by HousingWire as one of its Giants of Innovation for streamlining and simplifying the renovation lending process and creating new market opportunities for lenders and residential real estate professionals.

According to HousingWire, the nations leading news source on the U.S. housing market, Giants of Innovation are some of the most innovative, forward-thinking companies in the industry.

We are thrilled with this important recognition by HousingWire, and welcome the attention it will bring to our lender partners who understand the tremendous need in the market for renovation loan products, said Jim Fraser of RenovationReady. With an aging housing stock and too many foreclosed properties damaged and uninhabitable, renovation loans are the products for todays market.

FHA 203(k) renovation loans provide the funds to purchase the property as is and finance the repairs. RenovationReady offers lenders a streamlined start-to-finish solution that eliminates the guess work and mitigates the risk of these complex products that require specialized skills to process, close and manage:

Last year, more than 20,200 homes repossessed through foreclosure were resold in the metropolitan Chicago real estate market, including single-family residences, townhouses and condominium units. The median sales price of those homes was $ 74,200, according to RE/MAX.

Among real estate professionals, foreclosures are commonly referred to as REOs, an abbreviation for Real Estate Owned by a lender. In 2011, REO sales accounted for 29 percent of all home sales in the seven-county Chicago metropolitan area compared to 24 percent in 2009, according transaction records maintained by Midwest Real Estate Data, LLC.

The growing foreclosure market is attracting many buyers, both those looking for a home of their own at a bargain price and investors who either plan to improve and resell quickly or use the property as a long-term rental. Aided by the fact that mortgage interest rates are at historic lows, foreclosures have become the catnip of the residential real estate market.

However, not every would-be REO buyer follows through. Buying properties in this category presents a different set of challenges than making a more traditional home purchase.

A majority of first-time buyers I see want to purchase an REO, but after they view the homes available, many say, this isnt for us, said Matt Pittman of RE/MAX Achievers in Lombard, Ill. Buyers will do themselves a service if they research the subject of REOs and understand the unique aspects of this market segment.

Here are a few important tips for buyers interested in REOs offered by RE/MAX agents with extensive experience in that segment of the housing market.

1. Assemble a qualified team: Because buying an REO is different than purchasing other types of homes, buyers should be sure to have a qualified support team on their side, recommended Linda ODonnell of RE/MAX Signature in Chicago.

Along with using an agent who knows both REOs and the local market well, youll want an attorney experienced with REOs and a highly competent home inspector, ODonnell said. A thorough inspection is a must when buying an REO because the seller makes no warranties about the condition of the home.

2. Understand the link between condition and financing: REOs can come in a range of conditions, from essentially move-in ready to uninhabitable without extensive repair, and the condition of the property can make it ineligible for certain types of financing, notes Ed Lukasik, Jr., of RE/MAX Professionals in Bolingbrook, Ill.

Cash buyers can purchase anything they can afford, but buyers who need financing will face certain limitations depending on the condition of the building, Lukasik said.

To get conventional financing from a private lender, the home will have to meet specific criteria at the time of appraisal, according to Lukasik. The kitchen and at least one bath will have to be fully functional, though kitchen appliances arent required, and all utilities, including heat, water and electricity, must be operational.

However, if the buyer wants to use FHA or VA financing, the standards are even stricter, especially in regards to safety issue. For example, flooring and walls cant have holes in them. The exception, he said, is that FHA offers so-called rehab loans through its 203K program that can be used to finance homes with deficiencies so that repairs can be made after closing.

Depending on the type of financing they want, buyers should understand the condition requirements and adjust their house hunting accordingly, Lukasik recommended.

3. Dont assume every REO is a bargain: While many REOs are terrific values, that isnt always the case, advised Tomas Gomez of RE/MAX Showcase in Waukegan, Ill. Even the least expensive REO can turn out to be a poor investment.

You have to look beyond the price of the property itself and see what it will cost to bring the homes condition up to a level that will work for you, whether it will be your own home or a rental or a resale, said Gomez. Once you have determined that number, then you should look at the housing market in the immediate area and see if the home you will have is worth what you are putting into it. If it costs $ 30,000 to fix up an REO that cost $ 50,000 to purchase, you dont want to end up with a home that could only be sold for $ 65,000.

4. Dont be surprised if there is competition: Inexperienced buyers often imagine that REOs are properties that no one wants. While that can be true, it often isnt the case.

In the last week and a half, Ive written cash offers on four or five properties for investors, and we have been outbid, reported Matt Pittman. In fact, you can expect multiple offers on REO properties that are aggressively priced, especially on really good properties.

Pittman said that his strategy in such situations is to offer slightly more than list price perhaps $ 150,000 for a home listed at $ 149,900. Nine times out of 10 my buyers get the property if we get our offer in first.

When they dont, its because the bank will then ask all bidders for their highest and best offer.

Thats when the buyers have to make a decision on how much they are willing to pay and what the value really is, Pittman said. Ill advise them on how high Id go, but the buyers make the final call.

5. Get comfortable with the REO concept: There are a number of ways in which buying an REO is different from a more traditional purchase, but generally the differences are not something over which you should lose sleep, contends Anna Klarck of RE/MAX Showcase in Long Grove, Ill.

I love getting my clients into REOs because if the transaction is handled properly, it has so many advantages, she said. The negotiations are easy because all were discussing is price, and the sellers have a clear idea of what price they will accept. The sellers will also have some contract addendums that buyers should review and have explained to them if necessary. Usually the closing is quick, and for those buying to live in the home, a two-year home warranty is part of the package.

Best of all, said Klarck, if buyers do their homework before purchasing an REO, the home they get usually is worth more than they paid for it, so buyers often walk away from the closing table with an immediate profit, and they can recapture that profit by refinancing the home in a few years.

RE/MAX has been the leader in the northern Illinois real estate market since 1989. The RE/MAX Northern Illinois network, with headquarters in Elgin, Ill., consists of 2,100 sales associates and 110 individually owned and operated RE/MAX offices that provide a full range of brokerage services throughout the northern one-third of Illinois. Its http://www.illinoisproperty.com and http://www.remax.com websites are leaders in consumer visits among real estate franchise brands. Its mobile search, m.illinoisproperty.com, allows users to conduct real estate searches on any mobile device with Internet access. The northern Illinois network is part of RE/MAX LLC, a global real estate organization with 89,000 sales associates in 87 nations.

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Rates on the most popular types of mortgages moved in slightly different directions in the past week, according to HSH.coms Weekly Mortgage Rate Radar. The average rate for conforming 30-year fixed-rate mortgages rose by 3 basis points (0.03 percent) to 4.03 percent. Conforming 5/1 hybrid ARM rates decreased by a single basis point, closing the Wednesday-to-Tuesday wraparound weekly survey at an average of 2.95 percent, a new record low.

“Even with the slight rise in fixed rates this week, it’s hard not to love mortgage rates holding at these levels,” said Keith Gumbinger, vice president of HSH.com. “Right now, there’s not a lot of economic news to push them around much.

Low rates are of course good for homeowners looking to refinance, but the fact that rates also remain stable is important for homebuyers, since it can take months for a purchase transaction to go through, Gumbinger explained.

Sharp moves in rates, especially upward, can change the terms of a real estate deal. “A bump in rates lowers the mortgage amount that can be borrowed, said Gumbinger. If the bump is large enough, it can ruin a potential transaction. On the other hand, a sharp drop in rates might bring more bidders for a given property, increasing the asking price.

Average mortgage rates and points for conforming residential mortgages for the week ending February 14 were, according to HSH.com:

Conforming 30-year fixed-rate mortgage

Ziegler Financing Corporation (ZFC), the FHA-insured mortgage lending arm of Ziegler, has posted one of its strongest years of the decade thanks, in large part, to a renewed focus on FHA business and the increased volume in HUD mortgage lending activity nationwide.

In 2011, ZFC closed over $ 93 million (par amount) of FHA-insured loans. ZFC refinanced existing skilled nursing facilities and assisted living properties in seven states: California, Delaware, Indiana, Pennsylvania, Kentucky, Washington, and Wisconsin. ZFCs pipeline for 2012 continues to be very robust.

FHA-insured fixed-rate financing is available for licensed senior care facilities using HUDs Multi-Family Lending Program. The program generally provides up to 80-85% loan-to-value and longer loan maturities, often 35 to 40 years. In the last few months, lenders have secured fixed rates, below 4%, with similar terms.

FHA remains a critical source of mortgage financing and stability for the skilled nursing and senior housing sectors, said Bill Mulligan, President of ZFC and Managing Director of Zieglers Corporate Finance team. With fresh cuts in Medicare reimbursement and significant under-funding from Medicaid, nursing facilities already operating on ‘razor-thin’ operating margins have been fortunate to look to the financial markets for some relief. For those borrowers that meet HUDs guidelines, that relief comes in the form of historically low fix-rate, non-recourse FHA-insured debt.

ZFC tailors financial products for not-for-profit, for-profit and government clients across the country. ZFC offers a broad product mix, including mortgage loans insured by the Federal Housing Administration for the acquisition, refinancing and mortgage add-ons of nursing homes, assisted living facilities, hospitals, and apartments. FHA financing programs for healthcare and multifamily housing are attractive financing alternatives for corporate sponsors, as well as large and small not-for-profit operators.

For more information about Ziegler, please visit us at http://www.Ziegler.com.

About Ziegler:

The Ziegler Companies, Inc. (PINKSHEETS: ZGCO) together with its affiliates (Ziegler) is a specialty investment bank with unique expertise in complex credit structures and advisory services. Nationally, Ziegler is ranked as one of the leading investment banking firms in its specialty sectors of healthcare, senior living, religion and education finance, as well as corporate finance and FHA/HUD. Headquartered in Chicago, IL with regional and branch offices throughout the U.S., Ziegler creates tailored financial solutions including bond financing, advisory, private placement, seed capital, M&A, risk and asset management. Ziegler serves institutional and individual investors through its wealth management and capital markets distribution channels.

Certain comments in this news release represent forward-looking statements made pursuant to the provisions of the Private Securities Litigation Reform Act of 1995. This clients experience may not be representative of the experience of other clients, nor is it indicative of future performance or success. The forward-looking statements are subject to a number of risks and uncertainties, in particular, the overall financial health of the securities industry, the strength of the healthcare sector of the U.S. economy and the municipal securities marketplace, the ability of the Company to underwrite and distribute securities, the market value of mutual fund portfolios and separate account portfolios advised by the Company, the volume of sales by its retail brokers, the outcome of pending litigation, and the ability to attract and retain qualified employees.

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