Mortgage Lenders After Foreclosure GeorgiaThe Westmoore Group's investment approach is predicated upon the following three topics:
-- Principal Minded Investing
-- Conservative Loan Structure
Principal Minded Investing
The Westmoore Group loans as a principal. As such, the company intends to keep a significant equity state in all loans originated. All investments made by the company will probably be approved by its internal investment committee although the Westmoore Group may rely on agents and intermediaries for its pipeline and all workers of the Westmoore Group will undoubtedly be compensated based on the performance of every trade, not on volume. Furthermore, no investments will be approved based on set guidelines or fitting a carton. Every investment will need independent thought, analysis that is comprehensive and rigorous underwriting from Westmoore Group professionals.
The Westmoore Group will not provide a loan to any borrower that cannot afford it and will take a strict approach towards approving all borrower applications. Borrowers will normally need to illustrate a Debt-to-Income ratio ("DTI") less than or equal to 35% based on a 30-year amortization schedule. Though the business will not demand a minimum FICO score, the DTI standards that are 35% is more rigorous than most national loan plans as exhibited in the graph below.
Also, all claimed income on the potential borrowers' application must be verifiable and documented and a borrower must have a clean balance sheet that is not burdened by excessive consumer debt. Last and most significant, a borrower must adopt the notion of buying a house within their means.
Conservative Loan Structure
The Westmoore Group more info mitigates risk by structuring 10-15 year amortization schedules into loans leading to rapid de- leveraging each month. This benefits the firm, while helping the borrower by contributing additional equity to pay down the loan every month, save for his or her future.