North American Mortgage Company
Founded in 1948, North American Mortgage Company focused completely on home mortgage lending and was the nation's ninth largest residential lender. At nearly every North American Mortgage Company office all loan processing, underwriting, and funding were done locally. This meant that the company’s customers dealt with mortgage veterans who were empowered to act on their behalf immediately.
In 1997 Dime Bancorp, Inc. and North American Mortgage Company announced a definitive agreement for Dime to acquire North American, a mortgage banking company headquartered in Santa Rosa, California. North American Mortgage was taken over by Washington Mutual (WaMu) in 2002. With North American's mortgage operations added to WaMu's, the company had pro forma mortgage originations of $43 billion in the first quarter of 2002 (including WaMu's other recent acquisitions). The companies serviced $512 billion in home loans on a pro forma basis.
North American Mortgage is now part of the WaMu family. The financial giant Washington Mutual has a lot to offer. Whether it’s a home equity line of credit tied with easy access checks or a complex mortgage full of special conditions, WaMu can put together a loan package to fit the needs of virtually any customer.
Loans offered by North American Mortgage Co.
Whatever the customers’ life stage, WaMu has products and information to fit their lifestyle. Here are a few of their loan products:
- Fixed Rate Mortgages
- Low Down Payment Options
- Low Documentation Loans
- Traditional Adjustable Rate Mortgages
- Option Adjustable Rate Mortgages
- 100% Gift Down Payment Option
- Home Equity Lines of Credit
- Home Equity Loans
- WaMu Equity Plus Loan
Washington Mutual’s online tools make understanding the loan process much easier. Handy mortgage and planning calculators will give borrowers a heads up as to what they can afford and which type of loan is right for them. The potential borrower can pre-qualify online and begin the application process online, as well. WaMu supplies a list of all that is needed with regards to information and documentation when applying for a loan. Their website walks the client through the loan process and is sure to leave the client well informed. If the client decides a WaMu loan is for him/her, the application can be done by phone or in person, as well as online. Or if the client still has questions, one can send an email request for information. After the loan closes, WaMu’s online banking kicks in and the customer will be able to access all account information online. Alternately one can call the customer care line or even a WaMu loan consultant.
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