A service which allows credit union members to lower mortgage interest rates without refinancing will soon offer loan servicing with Denver-based mortgage servicing firm LenderLive.
Mortgage Harmony borrowers are also able to extend their loan terms at their own initiative, but the firm, Mortgage Harmony, makes clear that both the interest rate reduction and term extension require the loan have a payment history that is “unblemished.”
“We are very excited to offer our current as well as new customers the ability to service the HarmonyLoan,” said Rick Seehausen, CEO of LenderLive Network Inc. “The Harmony Loan along with the loan retention software brings value through greater efficiency and economics to the mortgage market and we are happy to play an important role in that effort.”
“We are extremely happy to expand our relationship with LenderLive to include the servicing of HarmonyLoans,” said Keith Kelly, CEO and co-founder of Mortgage Harmony. “LenderLive has been a pleasure to work with as our development teams were able to fully implement our loan retention software with their systems in less than thirty days. This is an exciting new development in our ongoing relationship and enhances this revolutionary service offering for the mortgage industry and its consumers.”
Harmony Loans are considered both an aid to marketing housing finance as well as a defense against mortgages being refinanced with other lenders later.