Our latest Blog

Mortgage Market Today

If you have read the paper or seen the news in the last few months, you have heard that the Mortgage Industry is going through some major changes. As a result of relaxed underwriting guidelines and some overzealous real estate and lending professionals, numerous homeowners are defaulting on their mortgage payments. This in-turn has brought a high degree of uncertainty to the credit markets thus making the mortgage backed securities loose a lot of its value in the marketplace.

The investment banks, which provides a majority of the funds for mortgage lending, is responding to this new credit climate by pulling their credit lines and many wholesale and retail lenders went out of business due to lack of funds to lend. With this tightening of credit, many loan programs that were available in the last five years do not exist today. Of the 65+ Prime, Alt-A and Subprime lenders, Severn Mortgage is approved with, over half are currently out of business.

The Good News is that Severn Mortgage has maintained its relationship with the Top 15 Wholesale Lenders in the industry as well as having the ability to lend our own funds. Severn Mortgage is financially strong and will remain in business to serve your mortgage financing needs now and into the future. For Conventional, Government, Construction and Home Equity loans, Severn Mortgage has the loan program to meet most any income and credit profile. Should you, your family or your friends have a need for Mortgage Financing, be sure to give us a call for a complimentary mortgage consultation.

"Special Offer!" Complimentary Mortgage and Debt Review

Given the recent changes to our industry, we felt it necessary to institute a Complimentary Mortgage and Debt Review program. If it has been more than six months since we last provided mortgage financing for you, feel free to give our office a call and schedule your Complimentary Mortgage and Debt Review. Our experienced team of originators will go over your current mortgage and consumer debt profile and advise you if any action on your part would have a positive impact on your financial goals. Call our office today.