Posted by Teresa/FL on 12/18/09 5:48pm
Msg #314927
Update regarding AmTrust
I received these updates and thought I would pass the information along. It appears they are still in business.
Investor: Amtrust Mortgage Banking
Type: Added/Removed Programs
Description: We are pleased to announce that new loan registrations and rate-locks will be accepted beginning Friday, December 18, 2009 for the following programs: • Conforming Fixed Rate Loans, including High Balance loan amounts (Permanent and Temporary) • 3/1, 5/1 & 7/1 Conforming Standard ARMs, including High Balance loan amounts (Permanent and Temporary) • Interest-Only Conforming Fixed Rate Loans, including High Balance loan amounts (Permanent and Temporary) • Interest-Only 3/1, 5/1 & 7/1 Conforming Standard ARMs, including High Balance loan amounts (Permanent and Temporary) • Fannie Mae DU Refi Plus Loans, including High Balance loan amounts (Permanent and Temporary). Important Additional Information: 1. The following loan programs and features will remain ineligible for new registrations and rate-locks of pipeline loans: • Fannie Mae's MyCommunityMortgage • Fannie Mae's Flex 97 program • 1/1 & 2/1 Conforming Standard ARMs • All Prepayment Penalty options • All Convertible ARMs • All non-conforming Jumbo Fixed programs • All Portfolio ARM programs 2. Unlocked previously registered loans in the ineligible categories above will not be eligible unless current product, underwriting, and all other eligibility guidelines are met. 3. Table-Funded loans secured by properties located in the state of Maryland are ineligible for funding. More About Amtrust Mortgage Banking
Investor: Amtrust Mortgage Banking
Type: General Information
Description: New AmTrust Registrations and Rate-Locks Accepted: As you know, AmTrust Mortgage Banking management has been working very closely with New York Community Bank executives over the past two weeks. I cannot be more pleased with the performance of our leadership team during this transition. Effective Friday, December 18, 2009 AmTrust Mortgage Banking will resume accepting new loan registrations and rate-lock commitments, operating as a service provided by New York Community Bank. Clearly this is welcome news for our employees, Clients, and business partners; and all of us together look forward to continuing to execute the "best in class" experience our technology, business process, people, and service commitment bring to bear in the marketplace. This is an exciting time for New York Community Bank as it enters the single family finance business. NYCB's disciplined credit culture and business risk management expertise will be beneficial to our operations, which will in turn benefit our Clients, investors, vendors, and financial counterparties. The fundamentals of our execution, which center on building trusted relationships with integrity and leveraging innovative technology solutions, will remain steadfast. More About Amtrust Mortgage Banking
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