New CCM Mortgage Solution Uses Home Equity to Generate Consumer Cash

Closed End Second (CES) Loan Gives Homeowners Cash for Any Need with a Fixed Rate

CLEVELAND, Sept. 22, 2022 /PRNewswire/ -- As inflation continues to strain wallets, CrossCountry Mortgage has a new way to put cash into consumers' hands. A new Closed End Second (CES) loan turns a home's equity into cash with a smaller fixed-rate second loan. This loan provides the benefits of a cash-out refinance without changing the rate on a consumer's first mortgage.

"We understand we're operating in a dynamic market where consumers are looking for new ways to cover their expenses," said Jenn Stracensky, CCM Chief Operating Officer. "Our CES loan meets that need, making funds available to consumers immediately after origination to use on whatever they choose, from paying off high-interest debt to covering college tuition or taking care of near-term expenses."

Benefits of the CCM CES solution include:

• Fixed rate
• No change to the consumer's first mortgage
• Funds available immediately
• Cash can be used for anything
• Available in all states except CO, OK, TN and TX

The CES solution is the latest in a variety of innovative CCM solutions to meet consumer needs. Other new solutions include rate lock options, new down payment assistance programs and CCM bridge loans.

With thousands of loan officers, more than 600 branches and a presence in all 50 states, CCM is ready to support borrowers with education around the many available options. To locate a nearby CCM branch, visit www.ccm.com.

CrossCountry Mortgage (CCM) is one of the nation's largest retail mortgage lenders, with more than 8,000 employees operating nearly 600 branches across all 50 states. Our company has been recognized nine times on the Inc. 5000 list of America's fastest growing private businesses and has received many awards for our standout culture. We offer more than 100 mortgage, refinance and home equity solutions – ranging from conventional and jumbo mortgages to government-insured programs for Veterans and rural homebuyers – and we are a direct lender and approved seller and servicer by Freddie Mac, Fannie Mae and Ginnie Mae. Through our dedication to getting it done, we make every mortgage feel like a win. Visit ccm.com.

Contact: Alicia Gauer
Senior V.P., Corporate Communications
[email protected]

SOURCE CrossCountry Mortgage