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News about wholesale lenders, correspondent lenders and wholesale mortgage lending programs. Alt-A, subprime and other niche loan programs. Lawsuits between wholesalers and brokers.

Wholesaler Recognized for Support of Mortgage Brokers

NAMB announced Affiliate of the Year

Nov. 13, 2013

By Mortgage Daily staff

A wholesale lender has been recognized for its support of mortgage brokers. High quality customer service was cited among its strengths.

The Association of Mortgage Professionals, which is also known as NAMB, held its national conference from Oct. 19 through Oct. 21 at Harrah's in Las Vegas.

Among the many awards handed out at the annual event by the trade group was "Affiliate of the Year." Four companies were nominated for the award.

This year's winner was Franklin American Mortgage Co.

Franklin, which claims to be "one of the fastest-growing mortgage
companies in the nation," is reportedly approved as a direct endorsed lender by the Federal Housing Administration, is designated as "VA Automatic" and is an approved seller-servicer for Fannie Mae, Freddie Mac and Ginnie Mae.

"They've always been a supporter of NAMB," Don Frommeyer, president of the Washington, D.C.-based association, said in a telephone interview. "They do things at our national conference and even in our local conferences."

The Franklin, Tenn.-based wholesale lender was founded in 1993.

Frommeyer, who is a senior vice president at Amtrust Mortgage Funding Inc., says Franklin is his No. 1 wholesale lender.

He explained that they perform well with first-time homebuyers, are very easy to work with and provide "top-notch" customer service.

Frommeyer said that Franklin is ahead of the curve in the industry.

He cited their testing of the elimination of their underwriting fee in Indiana in order to help brokers comply with the 3 percent rule that takes effect in January. He said other wholesale lenders are now also considering eliminating the fee.

"They're very pro-broker," he said. "They want to see the broker succeed."

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