SecurityNational Mortgage servicing portfolio reaches $3 Billion in Mortgage Servicing Rights
September 28 2017 - 3:17PM
SecurityNational Mortgage Company, a wholly owned subsidiary of
Security National Financial Corporation (NASDAQ:SNFCA) passed the
$3 Billion threshold of retained mortgage servicing rights in
September 2017. The $3 Billion servicing portfolio consists
of roughly 17,000 residential mortgage loans in 40 States for which
SecurityNational Mortgage Company collects payments and assists
borrowers with loan related questions or concerns. “This is
an important milestone for us,” according to Steve Johnson,
President of SecurityNational Mortgage Company. “When a
servicing portfolio such as ours is measured in the billions, it
represents a very valuable financial asset and long term source of
revenue. Most mortgage lending companies sell the rights to
their customers' loans because they don’t have the capital or cash
flow needed to service the loans. Retaining the rights to
service these loans is evidence of the strength and stability of
SecurityNational Mortgage Company as well as our commitment to
serve our customers over the entire life of their loans.”
SecurityNational Mortgage is approved by the
U.S. Department of Housing and Urban Development (HUD), the Federal
National Mortgage Association (Fannie Mae), the Federal Home Loan
Mortgage Corporation (Freddie Mac), and other secondary market
investors, to originate a variety of residential mortgage loan
products. The Company uses internal and external funding sources to
fund mortgage loans.
This press release contains statements that, if
not verifiable historical fact, may be viewed as forward-looking
statements that could predict future events or outcomes with
respect to Security National Financial Corporation and its
business. The predictions in these statements will involve
risks and uncertainties and, accordingly, actual results may differ
significantly from the results discussed or implied in such
forward-looking statements.
For Further Information Contact: Brian Nelsenor Garrett S.
SillSecurity National Financial CorporationP.O. Box 57250Salt Lake
City, Utah 84157(Telephone) (801) 264-1060(Fax) (801)
265-9882Website: www.securitynational.com
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