Earlier this year, Cendera Funding opened a branch in Picayune, its first in Mississippi.
Since 1998, the company has specialized as a full service mortgage bank, said Branch Production Manager Melissa Ruble.
Today, Ruble says the company is one of the largest mortgage banks in the region.
The company touts a lack of lender fees, a perk not many lenders can offer, Ruble said. But some fees will still apply, such as the appraisal and escrow account establishment. Loans typically take 15 days to complete.
For the past two years Ruble has been working out of the Louisiana branches. While her office is in New Orleans, she manages the branches in Slidell and the one in Picayune.
Loans offered through Cendera Funding include FHA, conventional, VA, USDA, and jumbo. Cendera Funding currently does not offer commercial or automobile loans, Ruble said.
However, refinancing a mortgage is offered at Picayune’s new lender.
Ruble said rates are competitive at Cendera Funding and the helpful staff can price a loan to buy it down. As with all lenders, rates will vary depending on the borrower’s credit score and other factors.
Once established, loans may be serviced in house, or sold to underwriters.
Cendera Funding currently has offices in Texas, Louisiana, Oklahoma and Colorado. Ruble said additional locations are planned for Mississippi and Alabama.
One of the other things that set Cendera Funding apart is the company’s ability to provide loans to those with lower credit scores, depending on the loan. For instance, Ruble said that Cendera representatives may be able to help someone with a credit score of 600 obtain a VA and FHA loan, and USDA and Conventional may be able to be written for those with a 620 credit score.
And, the business offers rapid rescore, which is an option to easily increase a credit score by informing the customer of the bills that can be paid off quickly to provide the best possible score.
“A lot of banks don’t offer that,” Ruble said.
Cendera Funding in Picayune is located at 104 Kirkwood Street and can be reached by at 601-273-7212.