How long has OVM Financial been in business?
We have been in business since 2001 and the members of our executive team have more than 15 years of mortgage industry experience. We have shown continued growth through a variety of markets and economic climates illustrating our stability and knowledge of forecasting the real estate and homebuilding industries.
How big of a company are you?
We have more than 180 employees, half of which are support staff for our sales force. We are big enough to offer the same products and support of a bank but with the flexibility of a smaller more nimble company. For four years running, we have been recognized by Inc. 5,000 as one of America’s fastest-growing private companies.
Where are your Headquarters?
We have the bulk of our operations and support teams in Chesapeake, Virginia where we boast a state of the art office with a media focused conference room and college campus type atmosphere.
Which states are you licensed?
We are currently licensed in 9 states focused primarily in the Southeast: VA, NC, SC, GA, TN, FL, MD, TX, and CO. We are always open to expansion into new markets where we see potential opportunities.
What loan products do you offer?
We offer every loan program you will find with a typical Lender. We specialize in VA and FHA financing as well as providing conventional, reverse mortgage and renovation loan programs. We are frequently expanding our product offerings and our investors as new options emerge. More than 90% of our business comes from purchase transactions indicating our proficiency in working with realtors and builders.
What software and technology do you use for your originators?
We input our files using Ellie Mae’s Encompass and price our loans through the Optimal Blue pricing engine. We have a fully equipped IT department and utilize a variety of technologies including e-disclosures, Docusign and mobile applications.
What types of credit requirements do you have?
We do not advertise or promote any “lowest credit score” approach. While we can accommodate borrowers with varying credit scores using the VA and FHA guidelines, we prefer to use credit supplement programs like credit counselling, rapid re-scores and what-if scenarios. This results in better borrowers and really benefits our clients and partners by providing long-term value.
Do you allow Loan Officers to work in teams?
Yes, we encourage teamwork and support multiple large teams within the OVM Family. We give our loan officers the freedom to use their own business model and build their own teams for support using our systems and resources.