SearchMyLoan.com (SML), a provider of loan search and pricing services for the mortgage industry, has formed a strategic alliance with San Ramon, Calif.-based CMG Mortgage, a national lending firm providing both mortgage banking and mortgage brokerage services.
Through this joint venture, CMG Mortgage's loan products are available to originators through SML's search and pricing platform, giving originators access to CMG's wholesale loan products and its new Home Ownership Accelerator loan program. The Accelerator combines the borrower's checking, home loan and home equity line accounts into a single loan account that automatically transfers all deposited cash against the loan balance each day in order to save mortgage interest, SML says.
‘Our partnership with SearchMyLoan.com enables our broad array of mortgage products to be more readily available to a larger number of loan officers,’ says Doug Nesbit, vice president of marketing at CMG Mortgage Services. ‘The system creates another avenue for our loan products to get the attention of potential new customers, helping to boost our company's recognition and profitability.’