While neither of those rates sounds very appealing, Hardiman realized that no one refinanced their mortgages in those days.
In 1982, they were hovering around 17% for a 30-year fixed, and a year later had fallen to around 12%. Originally known as Advanced Financial Services Inc., direct-to-consumer mortgage lender Embrace Home Loans began after founder Dennis Hardiman watched mortgage interest rates “fall a whopping 5 points.”īack then, mortgage rates were nothing like they are today. I always like to read up on the history of specific mortgage lenders to see how they got their start.Īnd the Embrace Home Loans story is an interesting one, having started all the way back in 1983, which is a lifetime in the mortgage industry. Loan servicing portfolio exceeds $6 billion.Licensed in 49 states and the District of Columbia (not available in Hawaii).Fannie/Freddie, FHA, VA, and USDA-approved direct mortgage lender.Previously known as Advanced Financial Services Inc.X Facebook LinkedIn Email Embrace Home Loans Fast Facts
