Lenders Looking to Expand, Stay Competitive

Steady growth in loan volume has allowed Old Merchants Bankers to expand their mortgage branch in a time when other lenders are closing down. New loan officers are being added to satisfy the increased demand and to focus on non-prime and sub-prime borrowers. The bank goes direct to Wall Street, thus being able to offer their borrowers less expensive loans by avoiding third party mark ups. The result is better priced loans and more satisfied customers.

The bank offers purchase and refinance options that cut out fees others lenders need to charge for all involved. Old Merchants offers no income verification loans, as well as 100% financing. The bank will also lend to those who have been involved in a bankruptcy, cornering a part of the market that other lenders neglect. The result is that, while other companies are downsizing, Old Merchants is opening more locations to service those who would have gone to another lender or those who were turned down by other lenders.