United Financial Mortgage, an Oak Brook, Ill.-based national mortgage banker, received approval last week from Ginnie Mae to offer the Ginnie Mae I and Ginnie Mae II single-family mortgage-backed securities programs.
"I am pleased to be able to report approval from Ginnie Mae," said Joseph Khoshabe, United Financial Mortgage's chief executive officer and president. "This enhances our customer service capabilities and bolsters our competitive position. United Financial Mortgage is now a fully approved mortgage banker with Ginnie Mae, Fannie Mae, Freddie Mac, the Department of Veterans Affairs and the Federal Housing Authority, giving us one-stop shop' competitive advantages."
As a Ginnie Mae-approved mortgage-backed securities issuer, United Financial Mortgage will have a role in fulfilling Ginnie Mae's charter to provide liquidity to the secondary mortgage market by attracting funds from the capital markets to the residential mortgage market.
"With access to an efficient market for securitization of the most popular forms of mortgage loans, we can offer our customers the fullest and most timely information available to guide their financing activities, as well as flexible loan structuring and quick, responsive approval channels," Khoshabe added.
United Financial Mortgage is principally engaged in originating retail and wholesale mortgages for single-family residences of one to four units.