Prospect Mortgage Partners With RE/MAX of New England to Form Empowering Resource for Homebuyers

BOSTON, Jan. 21, 2011 /PRNewswire/ -- In a move that provides New England homebuyers with a highly convenient and comprehensive resource for real estate transactions, two of the nation's most dominant industry brands have teamed up to provide their mutual customers with a deep well of experience, market knowledge and world-class customer service. The New England division of Prospect Mortgage, a leading independent national mortgage company, has become the preferred lender of one of the region's most trusted and successful real estate companies, RE/MAX of New England.

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"We are thrilled to mark the beginning of 2011 with this exciting partnership," said Kevin Jenkins, Prospect Mortgage Senior Vice President and New England Regional Manager. "We are natural teammates because we share many common traits. Like Prospect Mortgage, RE/MAX is a customer-centric, innovative company with great ambition to grow its business while strengthening the communities it serves through expanded homeownership. I am confident that our mutual customers will enjoy great value and convenience from our partnership."

Prospect Mortgage, which already participates in several joint ventures with RE/MAX franchises in several states, is among the nation's top-ten FHA lenders, top-five Fannie Mae HomePath® financing retail REO lenders and the second biggest 203K renovation lender in the United States. Prospect recently received Tier 1 ranking – a prestigious recognition and the highest level possible – by the U.S. Department of Housing and Urban Development (HUD), underscoring its reputation as an ultra high-quality lender.

Headquartered in Sherman Oaks, CA, Prospect Mortgage is one of the largest independent residential retail mortgage lenders in the United States. The company is backed by Chicago-based Sterling Capital Partners, a leading private equity firm with approximately $4 billion of assets under management. The Prospect – RE/MAX partnership, which took effect January 1, 2011, includes all of Prospect's 13 New England branches in Massachusetts, Connecticut, Rhode Island and New Hampshire.

"Prospect Mortgage has a legacy of successful joint venture relationships with real estate companies, and the fact that its purchase business is far beyond the industry average proves that it places great faith in the natural partnership between our two industries," said Jay Hummer, RE/MAX of New England's Executive Vice President and Regional Director. "We are very impressed with Prospect's commitment to provide customers with rapid loan closings, free homeowner education, and like RE/MAX, outstanding customer service. This is a big win for our customers and both companies."

RE/MAX of New England is comprised of more than 220 offices and nearly 3,000 Agents, and is growing by over 30 new offices per year. RE/MAX is a global franchise with proven success at getting the job done. RE/MAX Agents average 13.5 transaction sides per Agent compared to the next closest competitor at 7.3 transaction sides per Agent. This can be attributed to the premier education and training RE/MAX Agents are afforded as part of the RE/MAX system.

HomePath® is a registered trademark of Fannie Mae.

To learn more about Prospect's New England Region visit www.ProspectNewEngland.com

SOURCE Prospect Mortgage New England