Acceptance Capital Mortgage Corporation Announces Opening of Structured Products Group, LLC and Third Party Origination Busin...
March 12 2014 - 5:00AM
Business Wire
Acceptance Capital Mortgage Corporation (“ACMC”), a wholly owned
subsidiary of Complete Financial Solutions Inc. (OTC trading symbol
“CFSU”) today announced recent developments in two important growth
initiatives:
1) Acceptance Capital Structured Products Group, LLC, an
Indiana-based company owned by ACMC and a group headed by William
Johnston, is now accepting funded loans from ACMC for sale into the
secondary investor markets.
2) Through its new Indiana-based corporate office, ACMC has
begun in-house underwriting and approval of loans for delivery to
the structured products group.
“It is significant that both of these operations are now up and
running and producing business,” stated Allen Ringer, CEO of CFSI.
“The addition of these functions together with the new entity,
first announced in January has resulted in ACMC’s approval and
funding of both first-party and third-party business. First-party
business consists of loans originated by ACMC branches and
employees. Third-party business is new for ACMC, and is where a
loan is underwritten, approved and funded by ACMC on behalf of
another company that has originated the loan. Effectively we have
become true Mortgage Bankers, which gives us significant,
additional financial opportunity.”
Mr. Ringer added, “These new ventures bode well for CFSI and for
our customers as we will now control more of the revenue streams
from each originated and funded loan. Our goal is to effectively
manage these revenue streams, thereby passing the best value back
to our borrowers while attaining maximum revenue for our company.
The simultaneous management of these complex services is simplified
by AlliancePro Processing Corporation [another CFSI subsidiary]
enhancing its proprietary software systems currently in place.”
About CFSI
Complete Financial Solutions Inc. is an emerging financial
services company. Through its subsidiary companies, CFSI offers
mortgage origination and processing services in 26 states.
Acceptance Capital Mortgage Corporation (“ACMC”) is a HUD approved
lender allowing ACMC to both bank and broker FHA loans. ACMC offers
a spectrum of common and niche mortgage products through a variety
of correspondent and broker relationships. Insurance Solutions Inc.
offers protection products to mortgage customers of ACMC and to the
general public, where properly licensed to do so. For more
information, visit our website at www.cfsi.biz.
Complete Financial Solutions Inc.Allen Ringer,
509-462-9236CEOaringer@cfsi.bizorRich Inza, 954-251-0616Investor
Relationsrinza@cfsi.biz
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