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Chris Farrar and Nicole Curtis announce WIRE

Velocity Mortgage Capital’s New WIRE Initiative Opens Doors for Underserved Market

Velocity Mortgage Capital’s New WIRE Initiative Opens Doors for Underserved Market

The Residential Investment and Small Commercial Mortgage Lender’s WIRE (Women in Real Estate) Initiative is Shaking Up the Industry and Incentivizing More Women to Get Involved in Real Estate

WESTLAKE, CA, January 29, 2019 – With the goal of encouraging more women to invest in real estate, Velocity Mortgage Capital launched their WIRE initiative at the December 2018 National Association of Mortgage Brokers (NAMB) annual conference, with the help of HGTV star Nicole Curtis. Since the launch, Velocity has seen a 40% increase in submissions for residential investment and small commercial property mortgage loans from female investors.

“The WIRE program has clearly struck a chord with brokers and female investors,” said Chris Farrar, CEO of Velocity Mortgage Capital. “The volume of loans received from brokers under the WIRE initiative confirms that women are interested in funding programs through lenders who understand their specific needs,” added Farrar.

Velocity’s WIRE initiative offers special incentives for female investors and women-owned businesses, that include a free appraisal, discounts on underwriting fees, and a credit on closing costs on their first loan with Velocity. Because the response to the program has been overwhelming, it is apparent that these incentives, and the WIRE initiative in general, are catching the attention of brokers and borrowers.

“Our brokers recognize the value of how the WIRE program meets the needs of an underserved market,” says Maya Tremblay, Velocity Senior National Account Executive. “With WIRE, Velocity can broaden the reach for available loans and help incentivize more women to get involved. It is a step in the right direction for both Velocity and the industry as a whole,” added Tremblay.

Brokers are also touting the benefits of the WIRE program as a way to acquire new clients. “Velocity’s WIRE program tremendously helped one of my female investors who was just getting started in rehab investing,” said Pamela Kimble, Founder of BRE Capital. “While my client’s experience was limited, her father has been a real estate broker/investor for over 20 years. Taking advantage of the WIRE program gave them an opportunity to collaborate on a project together,” added Kimble. 

The program’s positive feedback will undoubtedly continue to grow in the new year as the real estate industry continues to change and evolve. WIRE is a clear example of how servicing the needs of an underserved market can help brokers to expand their client base, and Velocity Mortgage Capital is excited about its potential moving forward.  Mortgage brokers who want to learn more about the benefits of the WIRE initiative for their borrowers should contact a Velocity Account Executive or visit https://www.velocitymortgage.com/wire to request more information.

About Velocity Mortgage Capital

Since 2004, Velocity Mortgage Capital has funded over $3.2 billion in investment and commercial property loans. By focusing more on the property’s value and revenue-generating potential rather than the borrower’s personal income and credit, our asset-based investment property loans enable brokers to meet the unique needs of real estate investors who are tough to qualify, including W-2 employees, self-employed entrepreneurs, and small business owners. Velocity’s financing programs range from temporary, short-term, credit repair and fix-and-flip programs to 30-year, fully amortizing mortgages with flexible terms to meet the diverse needs of real estate investors. Because every borrower, even the extraordinary ones, deserves an opportunity.