IRVING, Texas, Nov. 14, 2006 (PRIMEZONE) -- Wholesale account executives for First Horizon Home Loans now have a new automation system in place to enhance their service to mortgage brokers across the nation. First Horizon, one of the country's leading lenders, has introduced FAMUS, an automated loan engine designed specifically for brokers originating non-prime loans. The system provides brokers a direct link that gives them access to current rate sheets and guidelines 24 hours a day, seven days a week. The FAMUS system was developed by First Horizon.
"As it stands right now the FAMUS user is given multiple qualified products along with par rate associated with those products. The rate includes all rate adjustments. We have fielded many calls concerning how the rate is calculated. In response, we will now also display all rate adjustments that lead to the par rate," said Pete Mackowiecki, president and CEO of First Horizon Home Loans.
Once a broker has entered a deal in FAMUS, the account executive can view the deal and answer any questions the broker has. If no qualified products are provided through FAMUS, the system sends an e-mail so the account executive can contact the broker to offer additional help.
An e-mail also will be generated to the account executive when the broker selects "Send to Ops." Send to Ops signifies that the broker is ready for the loan to be submitted to First Horizon underwriting operations. Once this button is activated, an e-mail is sent to the appropriate account executive with a notice that the broker is ready to submit. With this new system, rate sheets are always current, specific to the user's region and available online. This eliminates the need for manual rate sheet and guideline e-mail distribution.
The e-mail feature was requested by First Horizon wholesale account executives to aid in their communication with their brokers. More information is available through any First Horizon account executive.
About First Horizon Home Loans
Headquartered in the Dallas suburb of Irving, Texas, First Horizon Home Loan Corp. is among the nation's top 15 mortgage companies in servicing and top 25 in originations. First Horizon companies include First Horizon Home Loans, First Tennessee Home Loans, First Horizon Wholesale, First Horizon Construction Lending and First Horizon Equity Lending. First Horizon Home Loan Corp. is a subsidiary of First Tennessee Bank National Assoc. The parent company is First Horizon National Corp. (NYSE:FHN), whose 12,000 employees provide financial services to business and individual customers through hundreds of offices in more than 40 states. More information is available at www.FirstHorizon.com.