ClearPath Lending, a leading U.S Department of Veterans Affairs home loan originations firm, thanked the millions of people who have served the country in celebration of Veterans Day 2021. The company also called on the industry to do more for veterans.
ClearPath Director of Operations Adam Mercado is a U.S. Marine veteran and is well aware of those challenges unique to the military lifestyle, including frequent moves that place one spouse in charge of the household and can put strain on credit scores.
Not only do veterans deal with these issues, but those who are first-time military borrowers are facing an extremely competitive market. ClearPath works with veteran borrowers to give them a better chance at owning homes, such as granting approval for borrowers with credit scores as low as 500.
“We are proud to recognize our active-duty families and families of veterans who have given so much to protect our freedom,” Mercado said in a release. “As we salute those who have sacrificed so much for their country, we call on our colleagues in the mortgage industry to do more to help veteran and military families achieve the American dream of homeownership.”
To deliver an excellent customer experience and assist military borrowers, Mercado said he relies on his own time in the Marines and the lessons learned during his service, particularly those on perseverance.
“So, when a military family who has struggled through multiple moves as their loved one was deployed finds it difficult to buy a home, my training gives me the ability to help them overcome obstacles, so they have a better chance at being approved,” Mercado said.
“Americans enjoy freedom thanks to the sacrifices of active and veteran servicemembers – some who have made the ultimate sacrifice. Helping military borrowers into a home is a great way of saying thanks.”
ClearPath’s mission to assist military borrowers started in 2014 when the company strategically shifted its focus on government mortgage programs. It then improved the loan process by breaking it down into segments and creating a “turbo” version of ICE Mortgage Technology’s origination platform, the company stated. Each ClearPath origination employee is supported by four operations employees, resulting in more than 90 percent of the loans ClearPath locks are funded.