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ERA Franchise Systems LLC
1 Campus Drive Parsippany, NJ 07054 (973) 428-9700 |
Media contact: Stacy Quinn
(973) 496-7904 stacy.quinn@ERA.com |
Guide highlights specialized programs that benefit ERA brokerages and their customers
PARSIPPANY, NJ, June 3, 2002 - The complex process of obtaining a home mortgage is easier to understand for homebuyers who use ERA Mortgage thanks to a new guide that highlights the many financing choices and service guarantees available to consumers who choose an ERA® real estate sales professional.
The new "ERA Mortgage Capabilities Manual" enables ERA brokers and sales associates to describe more than 100 financing products available to homebuyers, explain each step of the purchase process and enable consumers to take advantage of ERA Mortgage's unique, four-point service guarantee.* Copies of the manual have been shipped to ERA brokerages nationwide.
"The ERA Mortgage Capabilities Manual shows ERA brokers and sales associates that the process for securing home financing from ERA Mortgage can be efficient, convenient and simple," said Scott Becker, vice president of service support, ERA Franchise Systems LLC. "In turn, ERA Mortgage and its programs are designed to support our affiliates in serving their clients. The manual is designed to assist ERA members in helping buyers understand the different types of mortgages so that they can choose the one that works best for them, and, with ERA Mortgage, at a price guaranteed to be the best."
The manual provides answers to the most frequently asked questions about ERA Mortgage. "What many people don't know is that ERA Mortgage offers more than the traditional 30-year, fixed-rate mortgage," said Becker. "There are over 100 different products tailored to meet the needs of consumers and this type of information gives ERA affiliates a competitive advantage in their marketplace."
ERA Mortgage offers some of the industry's strongest service guarantees, which are detailed in the 12-page manual. The service programs outlined in the manual include a "guaranteed same-day loan decision" - or the applicant receives $250. Additionally, ERA Mortgage will beat any other lender's price or pay the customer $250.
As part of the service program, ERA Mortgage guarantees to meet the customer's requested closing date or it will reduce the customer's interest rate by 1/8th of a percent for the life of the loan. It also notes that customers will be happy their sales associate recommended them to ERA Mortgage, or they will receive $200 and a letter of apology.
"ERA Mortgage makes it easy for consumers through completing the mortgage loan process by telephone and overnight mail," said Becker. "In most cases, a decision on a mortgage loan application is made in 15 minutes."
In addition to meeting the diverse financing requirements of customers, ERA Mortgage offers ERA affiliates several mortgage participation levels designed to meet the specific needs of their real estate brokerages. The manual describes each level of participation and details the ERA Mortgage framework for success.
"All real estate brokerages are unique," said Becker. "That's why we created customized programs to support every type of brokerage regardless of size."
* Certain conditions apply
About ERA Franchise Systems LLC
ERA Franchise Systems LLC is a global leader in the residential real estate industry with 30 years experience in developing consumer-oriented products and services. It is a subsidiary of Cendant Corporation (NYSE: CD) and part of its Real Estate Franchise Group. The ERA real estate network includes more than 28,000 brokers and sales associates throughout the United States and 28 other countries and territories. Each ERA office is independently owned and operated. ERA information is available to consumers on the Internet at www.ERA.com. ERA properties can also be viewed at www.REALTOR.com®.
About Cendant Mortgage Corporation
Cendant Mortgage Corporation is the leading provider of private label mortgage services for real estate brokers, financial institutions, credit unions, corporations, government agencies and affinity groups. Cendant Mortgage is the industry leader in originating mortgage loans over the telephone and offers the strongest customer service guarantees in the industry. In 2001, Cendant Mortgage provided over $44.5 billion in mortgage financing for American homes.
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