MIAMI, Nov. 20, 2020 /PRNewswire/ -- NETWORK CAPITAL, leading provider of refinancing loans in the Mortgage and Fintech sectors, today announced that they have acquired nearly a $1bn portfolio from a big player in the service industry. This brings Network Capital expansion efforts to new heights with the ability to expand its portfolio of products. From jumbo loans, cash-outs, self-employed borrower loans, FHA, non-QM, and more, purchases will increase revenue and margin percentages exponentially.
"We are very happy about this significant acquisition and believe we will be able to service these loans with particular care and diligence. This is just the beginning of Network Capital's new business model trajectory to position ourselves as the country's lifestyle brand lender. We are expecting great things from our recent facilities' expansions, technology integration and influx of new employees," said CEO Tri Nguyen.
"These investments will allow Network Capital to increase our loan offerings while maintaining the same integrity and attention each client deserves. With the total net acquisition, viable loans are approximately $800mm. Margins will increase tremendously and our continued success of rapidly closing loans at low rates will only become a stronger component of our wheelhouse operations. Expect to see the Network Capital name in lights everywhere," commented Tri.
Network Capital has been involved in the lending industry since 2002 and is most recognized for their efforts in specializing in the refinancing of home loans and creating a competitive environment in the market. The Company has made headlines recently as the No. 1 Lender to look out for with its tremendous expansion, and its game-changing strategy as a lifestyle brand in the Fintech sector. The Company wants to educate the consumer by letting them know they can '#Live Better' by utilizing their existing mortgage to bring down interest and shorten payments. This Company is ahead of the curve in Fintech lending and they're not stopping anytime soon.
About Network Capital
Founded in 2002, Network Capital is one of the most progressively growing companies in the industry well recognized for its expertise in the mortgage lending industry. The Company's mission is synonymous with its recognition of Fortune's Best Places to Work and its Forbes No.2 Companies for Work-Life Balance. The Company has won numerous awards for its product and service offerings and continues to make history in the mortgage industry.