Complete Financial Solutions Inc. announced that subsidiary Acceptance Capital Mortgage Corp. has reached an agreement with FirstFunding Inc. for a $5 million delegated warehouse line of credit.
FirstFunding Inc. is a privately held non-depository financial services company.
The delegated relationship allows Acceptance Capital the ability to underwrite and fund loans originated by its branch network, Complete Financial Solutions CEO Allen Ringer said.
"Because of this new warehouse vehicle, the increase in revenue per transaction could be meaningful, and will allow us to remain competitive in terms of fees charged to borrowers." he noted. "The ability to compete on fees offers our retail branches another valuable tool to grow loan production volumes."