A lot of changes have taken place in the home loan business over the past few years. It all started, as probably everyone remembers, when a few missteps and miscalculations on the part of lenders led to a meltdown over loans that probably should have never been written. Unfortunately, some overcompensation took place in the industry that made it far more difficult for the average home buyer to get a loan.
The upside of this was some creative thinking by a few visionaries who not only changed the way they did business but created new tools for everyone to use in an effort to get back into the game. As it turns out, the process of lending changed and gave borrowers more latitude over how they presented their applications for approval for home loans.
A Different Persona
Dustin Dimisa, CEO of InterContinental Capital Group was one of those individuals. Dimisa took the experience he had gained in the home mortgage business and created new tools to use on behalf of borrowers in an effort to make those borrowers more attractive to those who want to lend money for new homes from Dustin Dimisa.
The net result of all this has been a better place to start for home loan shoppers. And given the high price of home ownership, almost every one of them requires financing. Representatives of InterContinental work with potential buyers to create not only the financial information they need to qualify for a loan, but other security tools to do so. It has been found that this is a more equitable way to present a homeowner’s financial data.
Creating Credit Where Credit is Due
It’s a long-established fact that most potential homebuyers who fail to get a loan do so because of bad credit. In these times, however, it would be hard to find anyone who has what could be called pristine credit.
In the past 15 years, Dimisa has worked to create new products that he has taken to his company and into the industry that help new homebuyers to get loans. Many of these tools have been adopted industry-wide for their innovative approach to evaluating loan applications and the financial credentials of those who are applying for a new home loan.
Another innovation that DeMisa has worked to create is a different structure of direct lending. In this model, InterContinental Capital Group reduces the number of people who work directly with a borrower. In an effort to bring more direct attention to the lender and the lending process. Representatives work with potential borrowers to present a more equitable loan proposal to those whose job it is to approve loans. This is as opposed to more traditional lending institutions that utilize groups of lending officers, boards and committees who authorize loans. Not only does this approach streamline the approval process, but it also gives loan representatives a better opportunity to present loan applicants in such a way that it more favourable to those responsible for loan approvals.