Finally, A Message From Financial Freedom About Indymac
July 9th, 2008 | by admin Published in Financial Freedom, News, Reverse Mortgage | 1 Comment
A little note from Financial Freedom management about its future and Indymac…
Lender Alert #08-65
Message from Michael Giampaolo
I want to take this moment to reassure you that Financial Freedom is still in business and is not affected by Indymac’s curtailment of forward mortgage production. In fact, we are actively improving our processes to give you, our business partners, a better customer experience. This includes improvements in customer service, faster turn-times and better pricing.
We value your business and loyalty during these historic changes in the housing market. Most importantly, we believe that our commitment to the reverse mortgage business and to seniors is unmatched. With our specialized team of employees and years of industry leadership, I feel confident saying that we are the right lender to help your business thrive.
To see the most recent communication from Michael Perry, Indymac’s Chairman and CEO, regarding the changes at Indymac and further clarification as it relates to Financial Freedom, please visit our corporate blog at www.theimbreport.com.
Thank you for again for your continued business and support. Please contact your Financial Freedom Relationship Manager should you have any questions.
Sincerely,
Michael Giampaolo
CEO, Financial Freedom Wholesale Channel
Two quick notes:
- Better pricing – Didn’t you just lower your HECM fixed pricing?
- CEO – I thought Michelle Minier was Financial Freedom’s CEO… I did confirm there are two CEOs at FF, but Michelle reins supreme. =)
Well, it looks like it’s “Business as Usual” at Financial Freedom…
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July 9th, 2008 at 5:39 pm (#)
John,
I love your two witty notes to Financial Freedom’s announcement. =)
Here are my two (supplemental) cents regarding this alert:
1. Yes, they did lower their pricing on the HECM Fixed just a couple of days ago. Also, their last positive pricing change took place about two months ago. But, the change in pricing was not significant given the fact that shortly after that they eliminated their jumbo product!!
2. As many mortgage companies of the past, Financial Freedom is no different when it comes to handing all levels of their managers titles that sound important but do not represent the sophistication or responsibility that other companies in different industries would require of their SVCs, VPs, AVPs, Sr. Managers etc.
What I do not understand is why they have 4 individuals that have a CEO title - Perry (IMB, which owns FF), Michelle (FF CEO), Giampaolo (FF Wholesale CEO), and a Retail CEO. =)