ALLIED HOME MORTGAGE CAPITAL CORPORATION APPOINTS COMPLIANCE MANAGER

ALLIED HOME MORTGAGE CAPITAL CORPORATION APPOINTS COMPLIANCE MANAGER Jeanne L. Stell to oversee compliance, licensing policies and procedures for Allied Home Loan Branch Offices

HOUSTON, TEXAS – Allied Home Mortgage Capital Corporation, the nation’s largest privately held mortgage banker and broker (www.alliedhome.com), announced today it has contracted with Jeanne L. Stell to oversee the day-to-day operations of Allied’s more than 200 home loan branch offices across the US and the US Virgin Islands. 

Stell will serve as a consultant to Allied Home Mortgage, and will be responsible for ensuring the company’s branch offices meet all federal and state compliance and licensing standards, as well as fulfill Allied’s own policies and procedures. Stell is very familiar with these duties, having served as Executive Vice President of Compliance for Allied Home Mortgage from February 1998 through November 2007.

“The mortgage industry is rapidly changing, and our company continues to grow,” said Jim Hodge, CEO of Allied Home Mortgage. “It is extremely important that we help our branch managers keep abreast of regulations, licensing and procedure changes, and that we provide them with the best possible training and oversight. Jeanne is a consummate professional. I don’t know anyone with a better grasp of mortgage lending. Having her in this role will be invaluable as we continue to add branches and serve our customers.”

Stell has earned her Direct Endorsement Certification, VA Lapp and Credit Underwriting Certifications/Approvals. She also has been certified as a Continuing Education Mortgage Trainer and is a recognized Mortgage Banking Expert Witness. Stell has had several guest speaking engagements, including the American Conference Institute’s 10th Annual Forum on Responsible Mortgage Lending.

About Allied Home Mortgage:: Allied Home Mortgage is the nation’s largest privately held mortgage banker and broker with more than 200 branches throughout the US and the US Virgin Islands. Allied Home Mortgage is based in Houston Texas and has been providing residential mortgages to its customers since 1991.

Part of Allied Home Mortgage’s strength is in its ability to adapt to local market conditions and provide services that can be individualized to each customer.

Allied Home Mortgage Capital Corporation is a HUD-approved lender (US Department of Housing and Urban Development).

For more information, please visit www.alliedhome.com or call 713-353-0400.

Contact: Jerry Rose, APR

(480) 540-4966
For Immediate Release July 12, 2010

VA LOANS OFFER GREAT OPPORTUNITY

The end of World War II brought a huge number of our military service men and women home from the front lines abroad. Peace had been r estored and these young service people were eager to begin building their lives back home. In 1944, under President Roosevelt, our government created a home loan program, as part of the GI Bill, to assist these veterans in buying a home for their families. Today the VA home loan is still the best option for veterans and other service people looking to take advantage of our low-price real estate market.

The most attractive feature of the VA home loan is that it does not require any money for a down payment. This program also allows the home seller to pay the buying veteran's closing costs. This combination creates an opportunity for a veteran to buy a new home with not one penny out of his pocket. In fact, the VA home loan is often referred to as the "VA No-No," meaning that, when it is properly structured, it requires no down and no closing costs to the veteran. Another great feature of the VA home loan is that is does not require monthly mortgage insurance. Most other home loan products require expensive monthly mortgage insurance payments if you make a down payment of less than 20 percent. Omitting this monthly mortgage insurance can not only keep monthly mortgage payment lower, but also allows the buyer to qualify for a more expensive home. While this loan is called a Veterans Administration home loan it is not restricted to post-service veterans. Those who are currently serving in our armed forces, including the National Guard and Reserves may also qualify. A surviving spouse of a veteran may be entitled to this VA benefit as well under certain circumstances. The VA does require a minimal up front funding fee for this benefit, but it can be paid by the seller, or included in the new home loan if necessary. The buyer must be buying the home as a new principle residence, and qualify under all other standard VA home loan guidelines as well. Overall, the VA home loan has quite liberal guidelines, and they are written in a way that is to the benefit of our servicemen and women. It's also worth mentioning that, according to Retired U.S. Army General Erik Shinseki, who is now the secretary of Veteran Affairs, more than 90 percent of all VA home loans are made with Advertisement money for a down payment. Remarkably the VA home loan program has the lowest rate of foreclosures out of all loan products available. The American people support a great loan product, as a way to give back, and our service people and veterans appreciate it.

For more information on this outstanding home loan, or to find out if you are eligible for a VA home loan, contact an experienced VA home loan lender in your area. You can also find more information on the U.S. Department of Veteran Affairs Web site at www. homeloans.va.gov

P.S.- If you are a member of our nations Army, Navy, Air Force, Marines, National Guard, Coast Guard or are in the Reserves - thank you for all that you do. BY: Brent C. Bruce, Branch Manager, Allied Home Mortgage Capital Corp., 8480 Red Oak St., Rancho Cucamonga, CA 91730, Phone: (909) 463-4750, E-mail: bbruce@alliedhomenet.com  http://www.brentbruce.com Created: 01/12/2010 10:39:39 AM featured in the http://www.dailybulletin.com/