SmartBuy DPA Now Available to The Mortgage Collaborative’s Lender Members

ADDISON, Texas, March 21, 2024 (SEND2PRESS NEWSWIRE) — Click n’ Close, a multi-state mortgage lender, today announced its Preferred Partner status with The Mortgage Collaborative (TMC), a leader in mortgage cooperatives dedicated to providing its members with cutting-edge technology and expert mortgage banking resources.

Image caption: Click n’ Close.

As a correspondent investor, Click n’ Close will offer TMC’s Lender Members access to SmartBuy™, a proprietary suite of down payment assistance (DPA) loan programs designed to give homebuyers an advantage in today’s heightened mortgage interest rate environment. This national program combines a USDA or FHA-insured 30-year first mortgage with either a second lien that is fully forgivable after five years or a 10-year repayable second lien amortized up to 30 years. The second lien funds available through both options meet agency minimum required investment guidelines and can be used by the borrower towards their down payment, closing costs, or to buy down the interest rate. SmartBuy also has no income or first-time homebuyer restrictions.

“TMC is one of the preeminent cooperatives serving mortgage lenders in today’s market, and we are delighted to be part of its Preferred Partner network,” said Click n’ Close founder and CEO Jeff Bode. “SmartBuy is a competitive alternative to managing the myriad of state and local programs. SmartBuy has helped more than 6,000 borrowers become homeowners by extending more than $1.5 billion in DPA-related financing. We’re looking forward to expanding both these numbers through our partnership with TMC.”

“TMC is thrilled to have Click n’ Close as a Preferred Partner serving the growing needs of today’s mortgage lenders through its SmartBuy product suite,” said TMC President and COO Melissa Langdale. “This partnership is a testament to TMC’s mission of providing its members with access to the most innovative and reliable solutions in the industry.”

About The Mortgage Collaborative

Based in Austin, Texas, The Mortgage Collaborative was founded in 2013 by four notable industry leaders and is the nation’s largest independent mortgage cooperative network. TMC is singularly focused on creating an environment of collaboration and innovation for small to mid-size mortgage lenders across the country to reduce cost, increase profitability, and better serve the dynamic and changing consumer base in America. For more information, visit http://www.mortgagecollaborative.com/

About Click n’ Close, Inc.

Click n’ Close, Inc., formerly known as Mid America Mortgage, is a multi-state mortgage lender serving consumers and mortgage originators through its wholesale and correspondent channels and is also the nation’s leading provider of Section 184 home loans for Native Americans. In operation since 1940, Click n’ Close has thrived by retaining its entrepreneurial spirit and leading the market in innovation, including its adoption of eClosings and eNotes.

Combining this culture of innovation with a risk management mindset enables Click n’ Close to deliver new products to market that address the challenges facing both borrowers and third-party originators (TPOs). These innovations include its USDA one-time close construction loans, proprietary down payment assistance (DPA) program and reverse mortgage division. Its direct relationships with Fannie Mae, Freddie Mac, Ginnie Mae and private investors afford Click n’ Close direct access to the capital markets, thus ensuring maximum liquidity for its product innovations. By servicing its loan programs in-house, Click n’ Close provides its wholesale and correspondent partners with an additional level of certainty regarding loan salability and superior borrower service over the life of the loan.

Learn more at https://www.clicknclose.com/.

News Source: Click n’ Close Inc.

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