Nov 201709

Prosperity Home Mortgage Celebrates $1 Billion in VA Loan Fundings

PHM Jon Haug VA Loans
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Lt. C. Bashore of the U.S. Navy, left, stands with Jonathan Haug, senior mortgage consultant for Prosperity Home Mortgage, right.
Nov 201709

Prosperity Home Mortgage Celebrates $1 Billion in VA Loan Fundings

Waives $4.5 Million in Fees for Active Military and Veterans

In the three years since launching its VA Home Loan Advantage program, Prosperity Home Mortgage, LLC, (Prosperity) has saved active-duty military members and veterans over $4.5 million in origination and appraisal fees. The full-service mortgage banker has funded over $1.1 billion and closed 3,349 VA home loans since Nov. 11, 2014, when the program first began. The VA Home Loan Advantage program continues to be offered to all Prosperity clients purchasing or refinancing a home using a VA loan.  The program waives the company’s standard origination fee and provides eligible clients with a lender credit to pay for the cost of a home appraisal.

“As a veteran-founded organization, Long & Foster firmly believes in supporting those who have served our country in the military,” said Jeffrey S. Detwiler, CEO of The Long & Foster Companies, parent company of Prosperity. “That’s why we are delighted to celebrate this milestone and have the opportunity to offer all the benefits of a VA home loan, while also helping our service members and veterans to lower their cost of purchasing or refinancing a home.”

In addition, Prosperity is proud to share that Jonathan Haug, a senior mortgage consultant based in Virginia Beach, Virginia, has been recognized as the company’s top producing VA home loan officer. Haug closed over 225 VA home loans with associated volumes over $61 million since Jan. 1, 2014. Haug is also a member of Prosperity’s Chairman’s Club for 2016, was named to Mortgage Executive Magazine’s Top 1% of Mortgage Originators in America 2016 list, and was recognized as one of the Virginia Housing Development Authority’s Top Producing Loan Officers in VHDA’s Fiscal Year 2017.

“It’s fantastic to see Jonathan receive this well-deserved recognition, and we are thrilled to have reached the $1 billion mark in VA loan fundings as a company,” said Tim Wilson, CEO of Prosperity. “We are very proud of the hard work that each of our mortgage consultants has put forth to make homeownership a reality for military service members and veterans, and it’s because of that ongoing commitment that we remain among the top lenders in the nation.”

Ron Wivagg, national sales support manager for Prosperity, echoed Wilson’s thoughts. “Prosperity is in the business of financing homeownership and the American Dream, and our VA clients are a very important part of our business,” Wivagg said. “We have employees who have friends and family in the military, and it is imperative to us that we serve those who have diligently served our nation.”

Prosperity offers a wide range of mortgage products, including fixed and adjustable rate mortgages. It is represented by more than 140 mortgage consultants and operates its own in-house processing, underwriting and closing at its five operation centers across the East Coast. Prosperity also coordinates its clients’ appraisals and mortgage fulfillment in-house. For more information, visit www.phmloans.com.

About Prosperity Home Mortgage, LLC
Prosperity Home Mortgage, LLC (NMLS #75164), a wholly owned subsidiary of The Long & Foster Companies, is a full service mortgage banker that specializes in residential and refinance loans. It offers a wide range of mortgage products, including fixed and adjustable rate mortgages, jumbo loans, Federal Housing Administration (FHA) and Veterans Affairs (VA) loans, and renovation financing. Prosperity Home Mortgage is represented by more than 140 mortgage consultants. Prosperity Home Mortgage currently operates across the East Coast, from Georgia to New Jersey. The Long & Foster Companies is part of HomeServices of America, a Berkshire Hathaway affiliate. Visit www.phmloans.com or you can follow Prosperity on Facebook, Twitter and LinkedIn to stay updated on the latest news from the mortgage industry.