Over $180M of Interest Diverted from Banks; Default Rate Under 1%
BOSTON, MA — (Marketwire — April 18, 2016) — National Family Mortgage, the leading U.S. peer-to-peer mortgage lending service, today announced that it has facilitated over $400 million in mortgage loans between relatives while maintaining a default rate of under 1%. National Family Mortgage is the biggest online U.S. P2P lending service empowering families in all 50 states to properly document, register, and manage mortgage loans with their family members. National Family Mortgage helps families prevent the legal and tax problems that can occur when home loans between relatives are made informally. National Family Mortgage’s online solution also protects relationships, while keeping money in the family.
Common National Family Mortgage Client Scenarios:
1. 80/10/10 Loans – Family funded, 2nd position, piggyback loans
2. Family funded reverse mortgages
3. 100% Family funded purchase financing
4. Family funded refinancing of existing bank loans
5. Family funded home improvement loans
6. Family funded home equity loans
7. Seller financing to a relative
“We’re delighted to have helped thousands of families across the U.S. achieve their dreams, ” said National Family Mortgage CEO Timothy Burke. “Most online lenders continue to fuel revenues for hedge-funds, insurance funds, pension funds, and even banks – 100% of our loans remain peer-to-peer,” he continued. “We’re grateful for the trust and support of the estate planning, financial planning, and tax planning professionals who rely upon our solutions to better serve their clients.”
About National Family Mortgage
National Family Mortgage is an online peer-to-peer lending company committed to offering consumers alternatives to traditional and costlier forms of home financing. National Family Mortgage has developed a safe and easy way for families to structure real estate loans with their relatives – thereby helping people arrange affordable loans, while reducing tax issues, protecting relationships, and keeping money in the family. National Family Mortgage has originated over $400M in loan volume since inception, while keeping over $180M of interest within families.
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