Danica Patrick To Introduce Argent Mortgage Company’s New Alt-A Products
Move broadens company’s product line for mortgage brokers and expands client base
Irvine, Calif. (PRWEB) July 20, 2006 -- Argent Mortgage Company is expanding its reach in the mortgage industry by introducing a new line of Alt-A products. The addition of this new product line will increase the already wide range of products offered by Argent while, at the same time, broadening the company’s customer base. To promote the Alt-A Advantage and Alt-A 80/20 Advantage programs, Argent will use Danica Patrick, 2005 IRL Rookie of the Year, to illustrate the defining characteristics of its new products with the same outstanding services.
“Danica represents innovation, speed and teamwork, the same attributes that have set Argent apart from its competitors in the non-prime sector and now the Alt-A market,” said David Stark, executive vice president of marketing for Argent.
The Alt-A Advantage and Alt-A 80/20 Advantage programs became available to Argent-approved brokers this week. Details are available on the Argent Web site.
Argent is not the only non-prime lender that has moved into the Alt-A market in recent years. However, what distinguishes this product line from the competition is the level of support and speed of service that only Argent can deliver.
“Our Alt-A products will be serviced by the same responsive Argent team our brokers have come to know and appreciate,” said Sam Marzouk, president of Argent Mortgage. “Argent will not miss a beat whether it is funding the new Alt-A product, a non-prime loan or both. Under our long-standing Argent Service Guarantee, brokers receive an answer on their loan requests in 24 hours or our fee is cut in half.”
An expanded product line is the latest example of how Argent strives to provide greater value to more than 200,000 Argent-approved brokers. The Alt-A Advantage and Alt-A 80/20 Advantage are designed specifically to expand the range of options Argent approved brokers can provide to borrowers at competitive prices.
Major characteristics of Argent’s Alt-A Advantage and Alt-A 80/20 Advantage products include:
-- Loan amounts up to a maximum of $2 million
-- Fully amortized fixed mortgages with 15- or 30-year payment terms, I/O options for 5-year and 10-year terms, and ARMs at 3-year, 5-year and 7-year terms
-- Owner-occupied, second home or investment properties
-- Minimum FICO score of 680
-- Considers only two-year bankruptcy and three-year foreclosure history
The Alt-A Advantage and Alt-A 80/20 Advantage products also present advantages to investors, who will be able to choose from a more diverse portfolio at Argent Mortgage.
About Argent Mortgage
Headquartered in Irvine, CA, Argent Mortgage Company is a leading national mortgage lender. The company works exclusively with independent mortgage brokers and bankers across the country through loan processing centers in California, Illinois and New York. For more information about Argent Mortgage Company, visit the company’s Web site at www.argentmortgage.com.
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