Business
ACCEPTANCE CAPITAL MORTGAGE CORPORATION (ACMC), A WHOLLY-OWNED SUBSIDIARY OF COMPLETE FINANCIAL SOLUTIONS, INC, TODAY ANNOUNCED IT IS EXPANDING ITS CORRESPONDENT LENDER RELATIONSHIPS
ACCEPTANCE CAPITAL MORTGAGE CORPORATION (ACMC), A WHOLLY-OWNED SUBSIDIARY OF COMPLETE FINANCIAL SOLUTIONS, INC, TODAY ANNOUNCED IT IS EXPANDING ITS CORRESPONDENT LENDER RELATIONSHIPS.
About this update from Complete Financial Solutions, Inc.
[{"type":"text","content":"ACMC today announced it has recently created its thirdcorrespondent lender relationship. Thisresult follows announcement of its first such relationship on November 9, 2009. These relationships allow ACMC to fund loan files in its ownname, using the chosen lender’s funds, and ACMC earns the rights to service theloan payments. ACMC then sells the loanto the correspondent and earns additional revenue when it releases theservicing rights. ACMC currently funds approximately 15% of its loan volumeutilizing correspondent relationships and is building toward its goal of 50% ormore. About Complete FinancialSolutions, Inc. Through its subsidiarycompanies, Complete offers mortgage origination, processing and closing through60 plus branches licensed in 21 states. Mortgage loan processing services are also offered in all 21 states,online and paperless including document storage.We also have begun to acquireor start businesses providing legal, accounting, financial planning, creditrestoration and insurance services to the general population. These servicesare all integrated to some degree with the mortgage loan industry and with eachother. For instance, financial planners often utilize insurance products intheir client's financial portfolio and often the funds for such insuranceproducts are sourced from a mortgage on the client's house or investmentproperties. To acquire beneficial rates on mortgage loans often requireshelping a client increase his/her credit score which in turn can require legaland accounting advice or services. By providing all the above mentionedservices we are better able to retain the customer as he never has to accessthe services elsewhere and we are able to collect multiple fees from the samecore customers. Forward Looking Statements. This release includesforward-looking statements within the meaning of Section 27A of the SecuritiesAct of 1933, as amended, and Section 21E of the Securities Exchange Act of1934, as amended. All statements regarding our expected future financial position,results of operations, cash flows, financing plans, business strategy, productsand services, competitive positions, growth opportunities, plans and objectivesof management for future operations, as well as statements that include wordssuch as \"anticipate,\" \"if,\" \"belie...