Velocity Mortgage Capital understands what the real estate industry lacks and is helping with their Women in Real Estate (WIRE) initiative. WIRE is receiving an encouraging response and an increasing number of loan submissions from the launch late last year. Velocity Mortgage Capital is breaking down barriers and helping women get involved in the real estate industry.
Velocity Mortgage Capital launched its WIRE initiative at the December 2018 National Association of Mortgage Brokers (NAMB) annual conference, with the help of HGTV star Nicole Curtis. Curtis’ past, first-hand experience, dealing with the difficulties that often deter women from getting involved in the industry, makes her the perfect fit as the face of the program.
The WIRE initiative seeks to encourage more women to participate in real estate investing, by offering special incentives for female investors and women-owned businesses, that include a free appraisal, discounts on underwriting fees, and a credit on closing costs on their first loan with Velocity. In such a short time, it is apparent that these incentives are catching people’s attention.
The WIRE Program is providing Velocity Mortgage Capital with impressive numbers to reinforce the need for such a program. The company has seen a 40% increase in submissions for residential investment and small commercial property mortgage loans from female investors within the first 30 days of the launch. In addition, Velocity secured their largest loan in the company’s almost 15-year history through WIRE.
“Our brokers recognize the value of how the WIRE program meets the needs of the underserved market,” says Maya Tremblay, Velocity Senior National Account Executive. “With WIRE, Velocity can broaden the reach for available loans and help incentivize more women to get involved. It really is a step in the right direction for both Velocity and the industry as a whole.”
“The WIRE program tremendously helped one of my female investors who was just getting started in rehab investing. While her experience was limited, her father has been a real estate broker/investor for over 20 years. Not only did they take advantage of the rewards of a father & daughter project collaboration and could be on title together, but also appreciated Velocity recognizing her as an investor with unlimited future potential. Thanks, Velocity! Hard money was her only option without the WIRE program,” stated Pamela Kimble, Founder, of BRE Capital.
The program’s positive feedback will undoubtedly continue to grow in 2019 as the real estate industry continues to change and evolve. WIRE is a clear example of the progression taking place and Velocity Mortgage Capital is excited about its potential moving forward.
Mortgage brokers who want to learn more about the benefits of the WIRE initiative for their borrowers should contact a Velocity Account Executive or visit https://www.velocitymortgage.com/wire to request more information.
About Velocity Mortgage Capital
Since 2004, Velocity Mortgage Capital has funded over $2.5 billion in investment and commercial property loans. By focusing more on the property’s value and revenue-generating potential rather than the borrower’s personal income and credit, our asset-based investment property loans enable brokers to meet the unique needs of real estate investors who are tough to qualify, including W-2 employees, self-employed entrepreneurs and small business owners. Velocity’s financing programs range from temporary, short-term, credit repair and fix-and-flip programs to 30-year, fully amortizing mortgages with flexible terms to meet the diverse needs of real estate investors. Because every borrower, even the extraordinary ones, deserves an opportunity.