U.S. and World News : Construction and Building News

Sharrow Group Helps Homebuilders Optimize Mortgage Programs

Fri, 17 Jun 2005, 13:44:00 EDT

Edited by Christopher Simmons

ROCHESTER, NY - June 17 (SEND2PRESS NEWSWIRE) -- With the addition of Jim Graf as VP and Partner, the Sharrow Group (www.sharrowgroup.com) is expanding its homebuilder services to include all aspects of profitable in-house mortgage programs. According to Graf, "A well-designed mortgage program can reduce construction cycles by up to four weeks and give builders more control over closing dates, carrying costs and customer satisfaction. That's in addition to increasing total profits by at least one percent per home."

Based in Tampa, Florida, Jim has over 30 years of experience in creating and managing successful homebuilder mortgage programs, including ones in place at Pulte Homes and K. Hovnanian Enterprises. Jim was also key in creating builder support for the innovative FHA-approved Down Payment Assistance Program, offered through Nehemiah Corp, the largest privately funded provider of downpayment assistance in the United States.

Despite talk of a bubble, industry experts believe the housing market will continue to grow at an unprecedented pace, and that the biggest area of growth is first-time homebuyers.

"First-time homebuyers are underserved by our industry;" says Graf. "Millions of households have the income to buy homes but are unaware of all the low or no downpayment options available today. Even buyers with poor credit can, through effective credit counseling, buy a home - if not today, then at some point in the future. Builders who have mortgage departments or programs that responsibly guide these buyers through the process do more than build their profits. They also create a lasting social impact since homeownership creates wealth for generations to come."

Bill Carpitella, Sharrow Group CEO, adds, "Jim's expertise offers a unique opportunity for small and medium builders to expand."

The mortgage program services that Sharrow Group offers include:

* Developing mortgage participation strategy for builders without current presence. (Based on builder risk profile and culture, these can include in-house brokers, management contracts, net branches, affiliate business arrangements and fully-owned mortgage companies.)

* Turning existing mortgage divisions into integrated profit drivers

* Developing strategies to capture first-time homebuilder market share

* Designing advertising programs for builders to increase affordable housing volume

* Creating and implementing mortgage processes that save cycle time and increase customer satisfaction

The Sharrow Group (www.sharrowgroup.com), with offices nationwide, offers end-to-end solutions from executive recruitment through designing and implementing business strategies.

 Send2Press® is the originating wire service for this story.

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