EMC

Heard about EMC? If you are one of the millions out there who have been dreaming of buying and owning a house, then you probably need an expert’s help. Luckily, more than a hundred of mortgage companies are now available to provide you some of the latest and most reliable techniques and tips in owning a real estate property. These companies are operating abundantly in the United States and the world with a list of mortgage products and services. Offering loans is top in the list, and EMC Mortgage Corporation is big on this matter.

EMC is built as a subsidiary of The Bear Stearns Companies, Inc. It is known throughout the United States as a mortgage banking firm that has been offering a variety of services for the mortgage customers. Unlike the other companies operating out there, EMC specializes primarily in the securitization, acquisition, disposition, and servicing of the mortgage property loans. They have long been specializing on these aspects, and with their strong dedication and interest on their work, it’s no surprise for the company to create a foundation that spelled out a competitive range of pricing and well-designed portfolio management. It is also these assets basically that allows the company to build a team composed of a thousand professionals.

Speaking of teams, it’s worth knowing that the staffs of EMC are highly trained and are certified for serving mortgage products and services. According to several reviews and claims, the EMC mortgage teams are among the most experienced in the mortgage industry. They work with strong dedication and in-depth knowledge of everything involved in mortgage processing. They provide excellent customer service, workout of mortgage loans, collections, foreclosures, and even accounting. They provide all of these services with their customers in mind.

In terms of the EMC mortgage services, it’s noteworthy that currently, the company has been offering about seven types of conduit loan programs for their customers. The first most known loan is the Alt A program, which is described as a balloon, LIBOR ARM, and fixed rate program. This means that the loaner can get 40-year amortizations along with a 30-year payment for balloon on the hybrid ARM and fixed programs. The borrower is allowed to get a total amount of $2,000,000.

There is also the Preferred program, which is just recently developed to provide answers to the high credit quality borrowers’ needs. This program is fixed, flexible, and based on balloon and ARM payments. The borrowers are allowed to get a total amount of $3,000,000 from this.

The other known programs of the EMC include the Second Lien, Subprime, Option ARM, Alt A No MI, and Secure Option ARM. Each of these programs has its own coverage when it comes to the amount that the borrowers are allowed to get. For instance, in the Option ARM program, a loan amount of $3,000,000 is set and the borrower is expected to enjoy the benefits of flexible payment options and adjustable rates. On the Secure Option ARM, on the other hand, the borrowers are still allowed to benefits from adjustable rates and flexible payments schemes, but the program only allows them to borrow a total amount of $2,000,000. The same variation in loan amounts and benefits covered occur with the rest of the loan plans.

Today, the EMC is noted for offering loan services of more than 440,000 in numbers. They are also currently handling a number of rating agencies, including the Standard and Poor’s, Moody’s and Fitch. You’ll know more about the company and their services by visiting their official site on the web these days, which basically is located at EMCMortgageCorp.com. You can also do some transactions through their site.