Mike Elam
Alpharetta, GA (USA)
Role(s):
Seven Star Funding
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Startup
Location:
Alpharetta
Industry:
Finance
Year Founded:
2007
Number Employees:
INVALID
Description:
We are an emerging stage company that provides loans to qualified borrowers based on actual benefit to the borrower and benefit to the Company. We obtain application for mortgage refinance or purchase transactions from potential borrowers along with a complete application for servicing.
In the United States, adjustable rate mortgages (ARMs) have been far more popular than the more predictable fixed-rate mortgages, since more buyers qualify for their low introductory rates. However, rising interest rates can quickly hurt over extended buyers. It’s been estimated that more than 10 percent of new homebuyers in the United States have no equity in their homes, and with more than US$1 trillion in ARMs set to adjust upwards this year, this could potentially cause a ripple through the economy