|
| |
Dynex National Loan Program
|
Offered by Dynex Financial
(now known as Origen Financial L.L.C.)
with Viewtech
Following is a
description of the Dynex National Loan Program that was previously
offered by Viewtech:
The E Seal and Dynex
Loan Programs offer a turnkey method for
manufacturers, distributors, utilities and
contractors to offer "private label"
residential home improvement loans with no
bad debt risk. Loans are funded by Dynex
Financial, Inc. with loan origination and
servicing performed from a national
processing center in Richmond, VA
administered by Viewtech.
Dynex is an
affiliate of Dynex Capital, a New York Stock Exchange company with $4
billion in assets. Resource has funded more than $16 billion in mortgage
loans since 1987, and is the first EPA Energy Star Financing provider. Viewtech provides
innovative program implementation services
to energy and water utilities nationwide.
 |
Loan Features
 |
Preferential terms - borrow from
$2,500 to $25,000 for up to 15 years |
|
Fixed interest rates - below most
credit card, manufacturer and consumer
finance company loans |
|
No down payment - borrow up to 100% of
installed cost for any
qualified energy efficiency
improvements (such as heating and
cooling systems, insulation,
replacement windows, etc.) |
|
Same day approvals - with good credit
history it's quick, easy and
confidential |
|
Tax deductible - interest may be tax
deductible with optional deed-of-trust
lien |
|
Assumable - if borrower moves, the new
home owner may assume responsibility
for loan payments |
|
Low, predictable monthly payments -
should be partly offset by lower
utility bills |
|
|
Process . . .
|
Program sponsor "private labels" the loan
program, determines what improvements will be financed and which
contractors may offer loans. Loans are originated and serviced by Viewtech for Dynex Financial
through a turnkey national processing
center in Richmond, VA. Contractors fax
loan applications directly to Viewtech for
approval. Once loans are approved,
contractors install equipment and forward
customer-signed finance agreement to
Viewtech. Viewtech issues checks directly
to contractors, and forwards payment
coupon books directly to borrowers. Dynex
funds all loans issued directly from
Viewtech, and Viewtech collects borrower's
payments over the life of the loan.
Sponsor receives regular management
reports with detailed participation
activity.
|
How to begin . . .
|
Program
sponsors simply sign a Letter of Agreement
with Dynex. Viewtech offers an on-site
program implementation meeting and
customizes the loan application and
materials with the sponsor's brand name.
There is no monthly management fee.
Instead, on-going program costs are
recovered through the borrower's loan
interest rate. Program sponsors may set
the borrower's interest rate in order to
subsidize, recover or exceed program
costs. Call for the latest interest rate.
4/97
Back to
Archive |
|
|