Real Estate Mortgage Network, Inc.  is changing its legal name to HomeBridge Financial Services, Inc. effective February 3, 2014.  REMN Wholesale will continue to operate under our existing market name of REMN Wholesale.

The following will be impacted by this name change:

  • Initial REMN Wholesale lender disclosures
  • REMN Wholesale final loan documents
  • Subordination Agreement
  • Title Commitment
  • Closing Protection Letter
  • Appraisal
  • Insurance
  • HUD-1

The new requirements below apply to all states.

Initial REMN Wholesale Lender Disclosures and REMN Wholesale Final Loan Documents

Initial REMN Wholesale lender disclosures and REMN Wholesale final documents will be drawn in the name of HomeBridge Financial Services, Inc. DBA Real Estate Mortgage Network, effective February 3, 2014.

Mortgagee/Loss Payee Clause

Loans funding on or after February 17, 2014 will require the mortgagee/loss payee clause to read:

HomeBridge Financial Services, Inc. DBA Real Estate Mortgage Network
ISAOA/ATIMA
194 Wood Avenue South, 9th Floor
Iselin, NJ 08830

 Loans currently in the pipeline may close using the current mortgagee/loss payee clause however any loan funding on or after February 17, 2014 will require the new mortgagee/loss payee clause.

Subordination Agreement/Title Commitment/Closing Protection Letter (CPL)

Loans currently in the pipeline may fund using the current name and address.  Loans funding on or after February 17, 2014 will require the use of HomeBridge Financial Services, Inc. DBA Real Estate Mortgage Network for all states.

NOTE:   In some cases, the title commitment and/or CPL shows the mortgagee clause/loss payee information in addition to the name. In those cases, the new name and address must be included.

Appraisals

Loans currently in the pipeline will not require the appraisal to be updated with the new name.

NOTE:  In the event an appraisal update or a clerical correction is needed on an existing appraisal the name should be changed to HomeBridge Financial Services, Inc. when correcting the error or updating the appraisal.

New appraisals ordered on or after February 10, 2014 must be ordered in the name of HomeBridge Financial Services, Inc.  REMN Wholesale has notified all REMN Wholesale approved AMCs of this requirement.

If you have any questions, please contact your Account Executive.

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