Jeffrey Moore
Boston MA., MA (USA)
Role(s):
Active Funding Request
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VP/SVP/Dept Head
GillMoore Mortgage Corporation
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Startup
Location:
Boston
Industry:
Real Estate
Year Founded:
2011
Number Employees:
1-10 people
Business Stage:
Growth (profitable)
Entity Type:
"C" Corporation
Description:
Because of Dodd-Frank, the pendulum has swung from mortgages being available to unduly risky borrowers to mortgages not being available to certain classes of persons who are highly qualified but do not meet existing, inappropriately strict, guidelines from the federal mortgage agencies. The target borrower in our case is the self-employed business owner.
GillMoore Mortgage Company, which will originate loans on a wholesale basis. The target market includes self-employed borrowers for jumbo loans. The product will be not require specific income ratios, but will require full asset verification. This loan product will require that the borrowers demonstrate substantial assets and the ability to repay the loan on a timely basis. This verification of assets and liquidity to determine qualification, along with some income verification ,will satisfy all existing laws and regulations.