Complete Financial Solutions (CFSU)

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News..


Acceptance Capital Secures New Lender/Investor Relationship



2018-02-20 05:00 ET - News Release



SPOKANE, Wash., Feb. 20, 2018 (GLOBE NEWSWIRE) -- Complete Financial Solutions Inc. (“CFSI”) (OTC:CFSU) announced that its subsidiary, Acceptance Capital Mortgage Corporation (“ACMC”), has reached an agreement with FirstFunding, Inc., a privately held non-depository (non-banking) financial services company for a $5 million delegated warehouse line of credit.


“We have dealt with FirstFunding on a non-delegated basis for many years,” noted Allen Ringer, CEO of CFSI. “This new delegated relationship offers ACMC the ability to underwrite and fund loans originated by its branch network and to maximize the profitability from that part of the transaction. Because of this new warehouse vehicle, the increase in revenue per transaction could be meaningful, and will allow us to remain competitive in terms of fees charged to borrowers.” Mr. Ringer continued, “The ability to compete on fees offers our retail branches another valuable tool to grow loan production volumes.”