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Parkside Lending Expands In New York

Parkside Lending, LLC, a national wholesale and correspondent lender, announces the expansion into New York with the addition of Rich Bloom as North Eastern Regional Manager and Katie Plezia and Elizabeth Squillante Nichols as Senior Account Executives.

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Bloom has been in the mortgage business for 31 years, 24 as a Sales Manager, and will be covering the east coast from Virginia to Maine. His extensive network positions him well to help grow Parkside’s presence in the area. “I am pleased to join a company that gives me the opportunity to grow a region,” said Bloom. “And Parkside’s excellent service and commitment to their customers is worth expanding.”

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Plezia, another industry veteran, has 30+ years of mortgage experience in the NY market, receiving Top Performer and Chairman’s Club Winner awards during her tenure. And Nichols has over 20 years as a Wholesale and Correspondent Account Executive in downstate New York specializing in Jumbo, Conventional, FHA and VA loans. The two will be covering the New York Metro Area.

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“With such seasoned talent joining the team, Parkside is excited to bring our expertise and strong commitment to customer service to the NY Market,” said James Lamparter, EVP of Sales at Parkside.

Parkside Lending Expands Jumbo Loan Program

Parkside Lending, LLC, a national wholesale and correspondent lender, announces it has expanded its Jumbo loan program and is now offering Jumbo mortgages (fixed rates or ARM options) with LTVs as high as 95 percent with or without mortgage insurance.

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Unlike other Jumbo programs that feature high LTV with mortgage insurance (MI), Parkside Lending’s new Jumbo III offers both lender-paid and borrower-paid MI options. Borrower-paid MI allows the borrower to take advantage of less expensive mortgage insurance and does not stay on for the full life of the loan.

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Parkside Lending provides four Jumbo products (Jumbo I, Jumbo III, Expanded Jumbo and Premier Jumbo), with robust guidelines and aggressive pricing.

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“As a wholesale lender that doesn’t have a retail channel, our number one goal is to provide mortgage professionals with a suite of products for their borrowers’ varying circumstances. There are creditworthy borrowers that are underserved in the Jumbo market; therefore, we continue to enhance our Jumbo offering to meet the range of needs in the marketplace,” said Clint Rosenthal, Executive Vice President of Sales, Parkside Lending.

Parkside Lending Creates New Correspondent Advisory Board

Parkside Lending, LLC, a national wholesale and correspondent lender, announces the launch of a new Correspondent Advisory Board which was formed on September 1, 2016. Similar to its Broker Advisory Board which was formed earlier this year, the Correspondent Advisory Board is comprised of Parkside Lending’s correspondent lenders.

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Advisory Board members will meet quarterly with Parkside Lending’s senior management team, led by Matthew Ostrander, Chairman and Chief Executive Officer of Parkside Lending. The purpose of their discussions is to provide input that will be used to optimize Parkside Lending’s products, improve the customer experience and enhance communication. The Advisory Board members, in turn, will benefit by learning about opportunities, business strategies and peer successes and challenges.

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“This new forum is a continuation of a strategy that is designed to help us better understand our customers,” said Ostrander. “At the same time, the Advisory Board will offer us useful insights that will help direct future product and service enhancements to ensure we extend the ‘Power of Caring’ to everyone with whom we do business.”

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The first quarterly meeting took place on September 1.

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Lender Reaches Out To Brokers

Parkside Lending, LLC, a national wholesale and correspondent lender, announces the creation of a new Broker Advisory Board that is designed to leverage the expertise and feedback from a diverse group of Parkside Lending’s wholesale clients.

Advisory Board members will meet quarterly with Parkside Lending’s senior management team, led by Matthew Ostrander, Chairman and Chief Executive Officer of Parkside Lending. Their discussions are intended to provide input that will be used to optimize Parkside Lending’s products, enhance the customer experience and improve communication. The participants, in turn, will benefit by learning about opportunities, business strategies and peer successes and challenges.

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“We are excited about this new forum as it will provide us with constructive insights that will help guide future Parkside enhancements and strengthen our ability to deliver the ‘Power of Caring,’” said Ostrander. “At the same time, the individual Board members will benefit by strengthening their relationships with members of our senior management team. Ultimately, the exchange of ideas and information will positively influence their businesses and ours.”

The first of the quarterly meetings commenced earlier this month.

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Wholesale Lender Expands To Missouri

Parkside Lending, LLC, a national wholesale and correspondent lender, is pleased to announce that it is now lending in the state of Missouri.

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Parkside has been growing rapidly and with the addition of Missouri, its national expansion has now reached 48 states.

“We are excited to bring Parkside’s ‘power of caring’ to our clients’ borrowers in Missouri,” said Matthew Ostrander, Chairman and Chief Executive Officer of Parkside Lending.  “We will deliver the same great customer experience that our clients rely on in all the other regions of the country.”

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Ostrander co-founded Parkside Lending in 2004. He and his management team successfully navigated the mortgage deterioration of 2007-08, and have since grown the company to become a well-known national wholesale lending platform.

Lender Launches Non-QM Product

Parkside Lending, a national wholesale and correspondent lender, is reintroducing Parkside Collateral, a non-QM loan product created to provide affordable financing exclusively for investment properties. It is available through Parkside Lending, LLC’s Wholesale Channel beginning June 1, 2015.

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By design, the Parkside Collateral loan focuses on positive cash flows and underwriting requirements that are both sensible and responsible. Some of the features of this 30-year fixed term product include:

  • Unlimited Financed Properties (max 4 or $2MM with Parkside)
  • Loan-To-Values up to 70%
  • Minimum credit score of 700
  • Loan amounts starting  from $75,000 and up to as much as  $1,000,000 for 4-unit properties
  • There is no borrower Debt-To-Income (DTI) calculation; qualification is based on the property DTI with a maximum of 90%
  • Eligible properties include single family residences, Planned Unit Developments (PUD), condominiums, and 2-4 unit multi-family dwellings

“This non-QM product addresses the current lack of liquidity for loans that do not fit the conventional mortgage space and answers a real need among creditworthy borrowers who wish to purchase or refinance investment properties,” said Clint Rosenthal, Executive Vice President of Sales, Parkside Lending. “We believe the most impactful thing a lender can do for qualified borrowers today is to support them by creating viable non-QM solutions.”

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Parkside Lending is a national wholesale and correspondent lender that cares. It is committed to making a positive difference for clients and their customers. Parkside Lending’s sensible approach to underwriting, innovative suite of mortgage products and proprietary technology help loan officers and lenders close more loans. It employs seasoned professionals who bring respect, integrity and commonsense underwriting to every transaction. Furthermore, because it doesn’t serve the retail channel, Parkside Lending’s clients can be confident that it will never compete for their customers.