SAN RAMON, Calif., September 3, 2020 (Newswire.com) - CMG Financial, a well-capitalized privately held mortgage banking firm headquartered in San Ramon, California, was recognized by Freddie Mac with the Home Possible RISE AwardSM for Education. The annual program, RISE (Recognizing Individuals for Sustained Excellence), salutes Freddie Mac's top clients across multiple categories for excellence with Home Possible® mortgages - Freddie Mac's affordable lending solution for low-to-moderate-income home buyers.
CMG Financial earned the Home Possible RISE Award for Education for its ongoing initiatives to educate first-time home buyers and low-to-moderate-income buyers about the numerous avenues to home purchase. Most first-time home buyers know the FHA Loan is a low down payment option, but fewer first-time home buyers know about conventional options. With the FHA Loan, the borrower is saddled with a Mortgage Insurance Premium (MIP) through the life of the loan. With Freddie Mac Home Possible®, the borrower still gets the lower down payment option and only has to pay mortgage insurance until they've built up enough equity in the home.
"Making homeownership possible depends on a community effort. We are fortunate to have access to a community of informed and enthusiastic loan officers willing to educate first-time home buyers and each other," said Paul Akinmade, Chief Strategy Officer of CMG Financial. "The Freddie Mac Home Possible® loan is one of the valuable programs CMG Financial provides its loan officers to help first-time home buyers purchase a home."
The awards combined volume from national Home Possible and Home Possible Advantage mortgage options. Lenders must be active Freddie Mac Seller/Servicers or Housing Finance Agencies, and correspondent lenders and brokers must originate through those Seller/Servicers.
To learn more about the Freddie Mac Home Possible® loan available through CMG Financial, click here.
About CMG Financial
CMG Financial is a well-capitalized, privately held mortgage banking firm founded in 1993. The company makes its products and services available to the market through three distinct origination channels: retail lending, wholesale lending, and correspondent lending.
CMG Financial currently operates in all states, including the District of Columbia, and holds federal agency lending approvals with HUD, VA, RHS, GNMA, FNMA, and FHLMC. CMG Financial is widely known throughout the mortgage banking and housing markets for responsible lending practices, industry and consumer advocacy, product innovation, and operational efficiency.
About Freddie Mac
Freddie Mac makes home possible for millions of families and individuals by providing mortgage capital to lenders. Since our creation by Congress in 1970, we've made housing more accessible and affordable for home buyers and renters in communities nationwide. We are building a better housing finance system for home buyers, renters, lenders, investors, and taxpayers. Learn more at FreddieMac.com.
Source: CMG Financial