imortgage Expands Into Imperial Valley, Brings New Products and Fresh Approach, Funds Buyers Rejected by National Banks

Mortgage Lender Opens El Centro Branch To Help Local Homebuyers With Home Finance

News provided by

Jan 12, 2015, 11:00 ET

EL CENTRO, Calif., Jan. 12, 2015 /PRNewswire/ -- imortgage, a national top-five mortgage lending company and division of loanDepot LLC, announces the opening of its newest California branch in El Centro, the heart of California's Imperial Valley. This newest imortgage branch is located at 1601 N. Imperial Avenue, Suite A, El Centro, CA 92243.

imortgage logo

"El Centro is an important local market for imortgage and we see an exciting opportunity to help potential home buyers secure the financing they need to become homeowners," said industry veteran Michael Stowers, El Centro branch manager. "About 20 percent of the loans we close in this area are referred by banks that won't close the loan for one reason or another. We bring a fresh approach centered around service along with a full array of mortgage products new to the Imperial Valley. This means imortgage can help a lot local families achieve homeownership that might not have had the opportunity before."

The average list price for homes in El Centro this month is $226,500, compared to the national average list price of $198,895¹ and statewide average of $344,559. The average sold price in El Centro is $208,413² compared to the average sold price in California of $551,252². imortgage expects demand for housing and mortgage financing in the area to increase, and opened the El Centro branch to provide home finance to both experienced and first time homebuyers.

"We are very excited to become a valued member of the El Centro community, get to know people and help families who might not have had the opportunity before to achieve homeownership. With the national bank brands retreating from so many local community markets, imortgage is committed to delivering home financing options backed by great customer service missing in communities like El Centro," said Stowers.

With the opening of the El Centro imortgage branch, Stowers is also recruiting seasoned loan officers skilled in matching both experienced and first time homebuyers with the loan products that will best meet their needs. Branch Sales Manager Colin Cossio along with Eric Chaney and Sonia Gomez have joined the imortgage El Centro branch and are already working with local borrowers on their home finance needs.

ABOUT IMORTGAGE
imortgage is a leading private nonbank national retail mortgage lender based in Scottsdale, AZ. Established in 1999, imortgage operates 85+ local branch offices throughout the United States and is one of the fastest-growing, most well-respected retail lenders in the country today. imortgage delivers a service-driven, customer-focused home loan purchase experience which has earned the company the exclusive Eliant Certification for Customer Service Excellence. imortgage is a loanDepot LLC brand operating under NMLS# 174457. Learn more about imortgage at imortgage.com or by calling a local branch.

ABOUT LOANDEPOT LLC
Launched in 2010, loanDepot LLC, the leading national nonbank retail lender in the country with retail, consumer direct, wholesale, affinity and servicing operations. loanDepot LLC operates under the brand names of loanDepot.com, imortgage and LDWholesale, and maintains dual corporate headquarters in Foothill Ranch, CA and Plano, TX. loanDepot LLC is licensed in all 50 states, generates loan production from four web centers, employs 3,000 people that includes 900 licensed mortgage bankers, and operates 85+ imortgage branch locations across the nation. loanDepot is an approved seller and servicer for Fannie Mae, Freddie Mac and Ginnie Mae. loanDepot.com, LLC, NMLS # 174457 Learn more at loanDepot.com.

¹ http://www.realtor.com/local/El-Centro_CA/home-prices
² http://www.realtor.com/local/El-Centro_CA/home-prices