Announcement Regarding COVID-19, Capacity, and Our Expanded Operations

To our valued clients,

Last week’s reduction in interest rates have fueled a flurry of lending activity. Mortgage applications for refinances jumped to an 11 year high with a whopping 55% increase in just a week’s period. On the purchase front, many experts such as Joel Kan, a renowned MBA economist, predicts that prospective buyers will continue to be encouraged by improving housing inventory levels in many markets coupled with low-interest rates. What this means to everyone in the real estate and mortgage sector is that 2020 is shaping up to be one of the most robust lending environments since the great recession.

As we all share in the excitement of this latest phenomenon, world news of the COVID-19 outbreak lurks in the back of everyone’s mind. We realize that realtors, referral sources, borrowers, and even you may be wondering if loan transactions submitted to LoanStream will be disrupted by the coronavirus news. Therefore, I would like to briefly share how LoanStream Mortgage is responding to this unprecedented global event.

As of today, we have “All Hands-on Deck” working with diligence to fulfill every loan transaction expeditiously and ensure that your close of escrow date is met. We have authorized and encouraged overtime for every employee in our organization. We are aggressively searching and hiring ahead of the surge in order to maintain capacity levels and deliver the speed you’ve come to expect. We’ve secured a large office space in the Dallas, Texas area and have onboarded talented operations personnel who are currently in training and will soon be released to work on your files. Just as important, we are protecting our team members through education and updates regarding COVID-19 and are constantly sanitizing our work environment to deter an unfortunate event. Our leadership team is committed to not only the safety of our team members but to the business you’ve entrusted us with.

Although we still impress many broker partners with our speed of delivery, should turn-times slip a bit, we’re hoping you understand that we do have a plan in place and that any shortfall is only temporary. We hope that you continue to place your trust with LoanStream Mortgage. We will also continue to work hard each and every day to earn your business.

With great respect and appreciation,

Rey Maninang
Chief Production Officer
LoanStream Mortgage