""Total Mortgage Services LLC"":http://www.totalmortgage.com/ announced the launch of its new program created to speed up the mortgage closing process on purchase loans.[IMAGE]
""We understand the importance of closing a loan quickly while maintaining a strict attention to detail,"" said John Walsh, president of the Connecticut-based company. [COLUMN_BREAK]
""There's nothing more frustrating for the buyer, the seller, and the lender than a missed closing date. It costs everyone money and time, and in some instances can cause a sale to fall apart. With our program, our customers will no longer have to worry about the possibility of a missed closing date.""
Under the program, all borrowers who formally apply for a loan and who are preapproved by Total Mortgage are guaranteed that their purchase mortgage loan will close in 30 days--or the company will pay the first month's mortgage payment.
""Industry data confirms it currently takes many lenders more than 45 days to close a purchase loan. This is unacceptable--especially as we transition from a buyer's to seller's housing market and turn times become more critical for homebuyers and realtors,"" Walsh said. ""Our Total Guarantee 30 program will close real estate purchase transactions faster and build trust throughout the lending process with borrowers and our referral partners.""