NET LIFE Financial Launches Nationwide Non-Recourse Residential, Commercial Mortgage and Auto Lease Program
WASHINGTON, Aug. 20, 2013 /PRNewswire-iReach/ -- NET LIFE Financial recently announced that the NET LIFE LCMO® (Life Collateralized Mortgage Obligation), the NET LIFE LCDO® (Life Collateralized Debt Obligation) and the NET LIFE Auto Lease Program®, have officially been launched.
NET LIFE is the originator of the LCMO® and LCDO® mortgage and lending products. Both of these instruments are comprised of commonly used industry-standard mechanisms; a mortgage and a life insurance policy. When combined, an LCMO® or an LCDO® becomes the most innovative method of non-recourse residential or commercial financing ever made available in the USA.
Investors have been quick to inquire and/or participate in an LCMO® or LCDO® as they are considered a highly collateralized asset with both principal and interest secured; 150%. "The securitization of an LCMO® or an LCDO® investment is broken down into two parts" says Steve Maddox, Chief Financial Officer. "Principal, which is 100% protected by an AMBest secure-rated guarantee, such as the life insurance policy, and the interest, which is secured by the real estate. Total securitization: 150%; there is nothing better "out there" for either the consumer or the investor."
"Something had to be done in the mortgage and lending industry that would allow American's to get back-on-their-feet, back into home-ownership or back into business, thereby, creating much needed jobs, products and services by and for the American people. The conventional banking requirements now exclude a large number of American's who no longer qualify" states Burt Lawson, Chief Development Officer. "Taking into consideration all of the foreclosures, bankruptcies, losses in investment portfolios and retirement funds; NET LIFE now provides a mortgage and lending process which is not depended upon the applicant's credit or wealth, but, rather, their health." With an LCMO® or an LCDO®, virtually anyone and everyone can now qualify for a mortgage as long as: the property meets current market values; that the applicant is healthy; and that they have an income stream sufficient to maintain the mortgage.
NET LIFE is also strategically partnering with or participating with various Fortune 500 entities such as Lending Tree and Guaranteed Rate for mortgage application processing. Also, opportunities remain for national broker-dealers, fund managers, realtors, mortgage brokers, auto dealers and the like for which to participate in numerous NET LIFE products.
More information is expected to be released regarding NET LIFE Financial following a managing member's meeting on August 26, 2013.
About NET LIFE FINANCIAL
NET LIFE Financial is a Private Equity Fund which is wholly owned and operated by its managing members through its primary holding company; a Washington D.C. based statutory trust. The statutory trust structure of operation ensures complete transparency and that NET LIFE and all of its holdings are lawfully and securely allocated for the benefit of its Clients; both the mortgage Client and the LCMO® and LCDO® investor. NET LIFE's holding company is currently in the process of filing for its 501(c)(3) status. NET LIFE Financial has chosen PriceWaterhouseCoopers for its quarterly audits and will make all financial reporting available through its corporate website located at: www.NETLIFEFinancial.com/financials/. NET LIFE will soon be expanding into Europe with our EU Headquarters located in London, England.
To learn more about NET LIFE Financial and the NET LIFE LCMO®, the NET LIFE LCDO® and the NET LIFE Auto Lease Program®, please contact Mr. Carl Prescott, Chief Media Relations Officer.
Media Contact: Carl Prescott, NET LIFE Financial, 571.249.4257, carl.prescott@NETLIFEFinancial.com
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