Important Notice

Effective immediately, Express Home Mortgage is not accepting applications. We are no longer operating as a correspondent lender or a broker. More details about these changes and the future course of Express Home Mortgage will follow in the days ahead.

To all of our clients and vendors, thank you for your support and confidence. Please stay in touch with us.

Express Home Mortgage Responds to Mortgage Industry Meltdown

Mortgage industry is in dire condition.Events that began to unfold in late 2006 have changed the mortgage industry in a historic manner. It was about that time that mortgage delinquencies began to rise and mortgage backed securities began to deteriorate in both value and quality. Added to the woe, real estate prices had peaked and began to decline in an accelerating fashion.

As is characteristic of a “vicious cycle”, in response to contracting real estate values, mortgage backed securities were put under even more downward pressure. This further accelerated the negative state of lending conditions. We are now at a point where essentially all mortgage securities are being shunned by investors.

Consequently this entire scenario has mushroomed into a complete and total meltdown of the credit markets and mortgage industry. Over 225 lenders have imploded. Countrywide, the nation’s largest lender, is in an agreement to be taken over by Bank of America in order to avoid total collapse. Additionally and symptomatic of our times, one of the country’s largest investment banks Bear Stearns stock price plummeted to $2 per share. Federal Reserve Chairman Ben Bernanke destroyed the Federal Reserve’s future credibility by brokering a taxpayer backed deal with JP Morgan Chase. JP Morgage Chase was allowed to buy Bear Stearns at $10 per share and received a 29 billion dollar taxpayer guarantee. The situation is so dire, the United States banking system would be insolvent if it weren’t for historic borrowing from the Federal Reserve Bank.

Why This is Important to You

Awaken to the economic crisis.What this means to the consumer, is mortgage product offerings are very limited and becoming more so with each passing day. Furthermore, real estate values are declining rapidly which further negatively impacts consumer mortgage choices and pricing. If this weren’t bad enough, lenders are reducing or freezing home equity lines of credit that are currently held by homeowners.

Since 1995, Express Home Mortgage has positioned itself to offer the widest array of mortgage loan programs. We offered everything from fannie mae and freddie mac conforming loans to foreclosure bailout mortgages as well as everything in between. If it was a mortgage and it had the potential of solving our client’s problem, we wanted it on our shelf. Our philosphy was and still is to offer the mortgage industry’s best and most useful products.

As a full service mortgage company, we have seen scores of mortgage products disappear from the market place. We estimate that 80% of our product shelf no longer exists as well as the mortgage lenders that offered them. The extinct products are so for all mortgage origination companies, not just Express Home Mortgage. The industry is broken at it’s very foundation and we feel it is important that you understand this as well as the current state of the economy. Apparently, we are rather unique in that position.

Express Home Mortgage is Evolving – Are You?

Express recognizes and is responding to the ever changing, negative dynamics of the mortgage industry. Unlike many mortgage companies, Express Home Mortgage is anticipating events and responding before they unfold. In this treacherous economic environment, the most value one can expect from a mortgage company is foresight, guidance and the ability to execute mortgage transactions quickly and flawlessly.

Our clients deserve to work with a mortgage company that recognizes the current historic state of the mortgage industry and economy. Additionally our clients deserve to work with a mortgage company that is uniquely qualified to provide the financial expertise needed to navigate the seas of economic and mortgage industry uncertainty.

You Benefit From Express Home Mortgage’s Unique Market Position

Express Home Mortgage’s roots are in the financial planning industry and as such, we see ourself as more of a problem solving entity as opposed to just a mortgage company. We understand the complexities of not only the ever changing mortgage industry but also the financial industry and economy as a whole. This allows us to provide you with products and services that better fit with the rest of your financial needs and situation.

Our people, our ethics and our approach to the residential lending business are unique to Express Home Mortgage. You will not find our level financial expertise, professionalism and service anywhere else in the mortgage industry. Express Home Mortgage is dedicated to getting your loan done quickly, easily, and professionally.

We’re Taking Action – Shouldn’t You?

Time is running out for homeowners and borrowers.Express Home Mortgage urges you to examine your financial situation very closely in the context of our dangerous economic state. We encourage you to contact us for assistance in evaluating your current debt circumstances and to further explore opportunities to strengthen your overall financial position.

Now more than ever, you need a mortgage company like Express Home Mortgage. Today is a great day to contact us. Why not do it now?

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