Mortgages by Residential Wholesale Mortgage, Inc

We'll take the time to listen and create a solution that meets your individual needs.

Own the home of your dreams - we make it happen every day!
Residential Wholesale Mortgage, Inc. (RWMI) is a local community mortgage banking corporation that was founded in 1994, by experienced professionals who had been in the California real estate market and mortgage industry for over a two decades. Their mission statement hits a core:

“Our goal is to provide borrowers the highest level of customer service, coupled with unparalleled product diversity at competitive rates. We place a tremendous emphasis on developing relationships, not only with our clients, but also with our nationwide lending sources, and service providers. Our approach is simple; “treat others as you would like to be treated.”

In today’s fast paced technological world, where people often feel like just another number, RWMI’s more personal approach is working. The philosophy continues to fuel the success of the company attracting loan officers and support staff with integrity and expertise few others can boast. RWMI consistently funds over 400 million in residential home loans per year and nearly closed 1/2 billion home loans for their clients in 2010. Roughly 85% of these loans are underwritten and funded directly by RWMI, while the remaining loans are brokered to other sources giving borrowers the most competitive edge.

They offer conventional and jumbo financing of all types, are a Full Eagle FHA and VA automatic lender, and are approved to originate Reverse Annuity Mortgages. They also offer second trust deeds, home equity lines of credit, construction loans, and small commercial loans. See our link to RWMI's commercial division on the home page.

European Concerns Increase

Increased concerns about Europe helped mortgage rates improve this week, although the impact of the recently passed extension to the payroll tax reduction is beginning to push up mortgage rates for certain loans (discussed below).

The news from Europe was mostly negative this week. Economic growth in Germany was slower than expected. Negotiations on restructuring Greek debt did not progress as planned, increasing the risk of default. S&P is downgrading the debt of several European countries, including France. Finally, the European Central Bank (ECB) provided no relief, as it gave no indication that it would increase the level of aid available to troubled countries. As a result, investors shifted funds to relatively safer investments, including US mortgage-backed securities (MBS), which helped mortgage rates move lower.

The recently passed extension to the temporary payroll tax reduction contained a lightly publicized revenue raising provision to increase the guarantee fees charged on Fannie Mae and Freddie Mac loans. This fee results in higher rates for borrowers, and mortgage rates for loans not expected to close within the next month or so have begun to reflect this coming increase in guarantee fees.


	800.865.6266

Call 800.865.6266 for current interest rates. Each rate quote we provide is custom & we offer the most competitive products and programs available in the market place when considering your specific situation.

Rates are subject to change.