Benchmark Mortgage is a large full-service Mortgage Banking and Brokerage corporation, headquartered on the 8th floor of the Sun Microsystems Building in North Dallas, Texas. Our business model supports an expanding network of 180+ Branch offices throughout the United States. Strengthened by a $100 million dollar monthly warehouse lending capacity, we offer over 500 loan products in-house…every imaginable type of loan for all credit grades. Additionally, Benchmark offers a portfolio of over 200 banks and investors.
It is important to note that as of November 3, 2008 this branch of Benchmark Mortgage relinquished its affiliation with ARK-LA-TEX Financial Services, LLC. Our Benchmark entity now focuse ssolely on “Mortgage Loan Retention” through our branches financial services mediation programs and that of our wholly owned subsidiary United Benefits .
The announcement by Benchmark Branch Partner/Branch Manager Tim Gibbons,
“Benchmark Mortgage has played an important role in our branches ability to reach the masses who need mortgage related services. With the overwhelming success and growth of our branches financial programs (offered exclusively through our Winton CA. branch operations), we find it more important in what we do in resolving existing mortgage problems today than our responsibility as a Benchmark lending branch in issuing new loans. In the middle quarter of last year our branch implemented new financial programs designed to re-establish the lender/borrower relationship and turn around non-performing loans by re-habilitating them back into performing loans. These programs directly affected homeowners and avoided costly foreclosures for all involved. Through our specialized finanacial restructuring programs we now have more than 100 million in mortgage loans on the path to financial recovery. It is expected that in 2009 that our portfolios will surpass 300 million dollars in restrctured assets. By ending our Ark-LA-TEX partnership we are now free to expand the successful programs of United Benefits throughout the United States. This will greatly expand mortgage retention and financial restructuring programs that have proven so successful in preventing home foreclosures.
As industry insiders, we know and understand loss/risk management strategies and problem resolution authorities. Most importantly we know the triggers that escalate and the formulas that empower decision makers. No entities were better positioned to offer assistance to the borrower than lenders loss/risk management departments. It was simply a mistake by our banking and lending peers not to open up programs to the borrowers at the institutional lender level. We as United Employee Benefits Group now focus our attention to rebuilding our country through the existing borrowers and avoid the misguided direction of our financial and banking peers.
We see the future for borrowers through Financial Restructuring (i.e., Re-organization) by way of Pre-legal Financial Mediation protocols. Understanding lender protocols and strategies in loss/risk management are the driving components which define borrower strategies in financial restructuring. Redefining, repackaging, and readdressing obligatory and non obligatory debt is paramount. Hence Re-organization is an absolute precursor to any application or appeal from any borrower upon a creditor. Knowing the ratios that trigger proper channeling within lender models is what achieves lenders reviewing risk. Borrowers have little hope without financial restructuring being addressed first. This will prove disastrous under current lender (Servicing Agents) models. Success for borrowers in securing lender concession has nothing to do with applications and submissions but everything to do with preparation and strategic re-organization. We must embrace the success of the financial programs launched initially under our branch at Benchmark and develop United Benefits as a national concern if we are to impact the borrowers and this crisis on any significant scale.
Without the lending communities loss/risk management teams openly offering assistance as we have done through United Benefits Programs we see nothing but further financial instability in banking and mortgage lending portfolios. We therefore opt instead to insulate, protect and navigate all borrowers safely through these very challenging times. Unfortunately no progress in this crisis will be achieved that first do not re-organize and restructure borrower obligatory debt. It is paramount to position the borrower for proper escalations within lender loss/risk management departments. But even then without proper Pre-legal mediation and financial leverage no current services, be it offered through modification organizations, “Hope Now Programs”, HUD counselors, credit counseling, Debt consolidators or others can be of any real benefit to the borrower without the realities of financial reorganization preempting borrowers submissions. Anything short of these fundamental loss/risk management principles spell certain financial disaster for borrowers and lenders alike.
It can not be ignored that the problems not only reside with the borrower, they equally reside in us, the lenders. We have built an inadequate system with notoriously flawed escalation procedures that simply are not set up to manage the onslaught of defaults. Computer programs are forced to make the evaluations for potential escalations to decision makers from the initial filtering levels; this is an extremely problematic reality when it's the lenders own untrained, unskilled employees that stand between the borrower and their endless pursuit in seeking review for potential concessions.
It's time we prove what role we played in earning a 9 year "Better Business Bureau A+ rating” as a branch partner of Benchmark. It’s time we put the borrower not behind or in front but beside us in seeking balanced financial solutions. It’s time we prove our dedication to our clients and question harshly the rationale of the Better Business Bureau when lenders like Bank of America have 5,000 complaints over the last 12 months yet carry an “A+ rating”. In short it’s time we make significant stands and changes if we are going to make a difference in evolving past this crisis.
It is in that spirit that our entire management and support staff draw the line in the sand and immediately cease all lending through our Benchmark Branch. We now instead dedicate our experience and specialized skill to evolving the borrower past today’s economic challenges using the programs of our subsidiary United Benefits.
We are extremely proud of what we helped to build and take great pride in our excellent record in customer service. "In an industry plagued with acts of predatory lending and poor regulatory oversight, our branch is proud to boast that we never suffered a single filed customer complaint with any regulatory or consumer agency such as the “Better Business Bureau”. As we relinquish our affiliation with Ark-La-Tex Financial Services, LLC we leave these points of reference of verifiable accomplishments of what our partnership meant to us, our clients and our reputation throughout the industry."
Please review our links and feel free to click on the many supporting sites that represent what made up our reputation as a Benchmark Branch and our Benchmark/Ark-LA-TEX partnership.
Click here to verify an ( A+ Rating) in customer service and reliability in what defined our reputation at Benchmark Mortgage when partnered with ARK-LA-TEX Financial Services, LLC . As reported by America's most trusted "business reporting agency".
What being a Benchmark branch meant
We offered a wide array of loan options: Fixed and Adjustable Rate Mortgages (ARM’s) , Jumbo Loans Construction Loans including some exciting ‘One Time-Close’ products, Home Equity Lines of Credit (HELOCS), Debt Consolidation loans and 100% financing.
We were a “Full Eagle, Title II, Non-supervised FHA lender.” We were LAPP approved VA lenders. We processed in-house, as well as funded, closed and sold our pooled loans into the secondary market.
Benchmark Mortgage is Ranked #57 in Inc. Magazine’s “500 Fastest Growing Private Companies in America” for 2004. The Inc. 500 annual rankings reflect innovative turbo-charged enterprises that are the pulse of the U.S. industry. Previous recipients include Microsoft, Timberlands, Oracle, E*Trade, and Domino’s Pizza just to mention a few
Benchmark Mortgage is Ranked #12 in the Dallas 100 of 2004. For the past 14 years, The Dallas 100 has recognized the 100 fastest growing, privately held companies in the greater Dallas area. The award recipients are entrepreneurs that initiate change and drive growth in the industry. The Dallas 100 Award is sponsored by the Caruth Institute of SMU Cox and the CEO Institute..
Benchmark Mortgage is a nationally recognized financial institution licensed in 49 states throughout the United States