FORT WAYNE, IN (November 18, 2013) – Fort Wayne-based residential mortgage lender Ruoff Home Mortgage recently cleared the final review process of becoming a Ginnie Mae MBS (mortgage-backed securities) lender.
Ginnie Mae securities are the only mortgage-backed securities with a “full faith and credit” guaranty of the United States government for single-family and multifamily loans insured by various government agencies, such as FHA and Department of Veteran Affairs.
An approved Ginnie Mae mortgage lender is specifically permitted by Ginnie Mae to obtain competitive pricing for their loans in the secondary mortgage markets, which helps lower financing costs and create opportunities for sustainable, affordable housing for families seeking home ownership. Ginnie Mae does not purchase loans from mortgage lenders or make loans to customers.
To become an approved Ginnie Mae issuer, Ruoff Home Mortgage went through a stringent application process, demonstrating their financial, organizational, procedural and quality control processes were qualified to participate in the program. There are only 344 active GNMA approved issuers in the country.
Mark Music, president & CEO of Ruoff Home Mortgage, acknowledges the importance of this designation. “This strengthens our lending platform, as well as our market leadership position, while enhancing our ability to assist our clients to achieve their homeownership goals.” Mark continued, “It also gives us stronger leverage to operate more efficiently amidst market fluctuations and uncertain time. It’s a win-win situation for everyone.”
This announcement comes on the heels of Ruoff Home Mortgage being ranked #722 on the Inc. 500| 5000 list of fastest growing companies, which was announced in late August, and on the Inc. Hire Power Awards listing as the #3 job creator in the state, which was announced in late October.
About Ruoff Home Mortgage
Founded in 1984, Ruoff Home Mortgage is a full-service, Fort Wayne-based residential mortgage company with eight branches in Indianapolis, South Bend, Warsaw, Plymouth, Greenwood and Elkhart. They are an FHLMC-approved direct seller, and a fully approved HUD Direct Endorsement independent mortgage bank. They are also approved Fannie Mae, Freddie Mac and Ginnie Mae lenders.