Mortgage banking and servicing company 1st Alliance Lending is introducing a new national mortgage lending platform, according to a press release Monday.
1st Alliance's new platform is designed to help prospective borrowers with past credit problems to obtain a loan and purchase a house, the East Hartford, Conn.-based company said. The platform will offer Federal Housing Administration loans underwritten by First Alliance.
The new platform will comprise two channels. The wholesale side of the platform will assist mortgage bankers, community banks and credit unions in the lending needs, while the "Premier Partners" channel was developed for real estate agents, homebuilders and financial institutions.
First Alliance has aimed primarily to help homeowners facing foreclosure through government-back refinancing programs as well as borrowers with past credit problems to purchase homes. The company offers FHA, Veterans Affair and conventional mortgage products for customers in 46 states.
