SAN RAMON, Calif., Sept. 13, 2022 (GLOBE NEWSWIRE) -- CMG Financial, a well-capitalized privately held mortgage banking firm headquartered in San Ramon, CA, has raised the conventional conforming loan limit for one-unit properties in preparation for 2023. Effective immediately all CMG Financial channels (retail, wholesale, and correspondent) will start accepting one-unit Conventional Loan applications and locks of up to $715,000.
The new increase reflects the expected one-unit conforming loan limit for 2023. The official maximum will be announced by Federal Housing Finance Agency (FHFA) later this year. CMG Financial is making this change ahead of the FHFA announcement to ensure its existing borrowers and prospective buyers have the most competitive access to homeownership. Earlier this year, the company announced the launch of its retail division, CMG Home Loans, to allow a more dedicated approach to consumers. The division is focused on simplifying the consumer experience, creating lifetime value for existing customers, and opening more pathways to homeownership. One of the ways CMG plans to achieve these goals is by providing its customers early access to higher loan limits.
As the housing market continues to evolve in the coming months, CMG Financial will continue to work to advance changes that increase accessibility to homeownership and improve the home purchase experience.
About CMG Financial
CMG Financial is a well-capitalized, privately held mortgage-banking firm founded in 1993. The company makes its products and services available to the market through three distinct origination channels including Retail Lending, Wholesale Lending, and Correspondent Lending.
CMG Financial currently operates in all states, including District of Columbia, and holds federal agency lending approvals with HUD, VA, RHS, GNMA, FNMA and FHLMC. Throughout the mortgage banking and housing markets, CMG Financial is widely known for responsible lending practices, industry and consumer advocacy, product innovation, and operational efficiency.
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