May 19, 2010 – (RealEstateRama) — Hawaii’s Largest Privately Held Mortgage Banking Institution Diversifies to Succeed and Thrive in Today’s Challenging Mortgage Industry (Honolulu, Hawaii), May 17, 2010 – Remaining strong in a currently challenging mortgage industry, NorthStar Family of Companies, Hawaii’s largest privately held mortgage banking institution, is proudly celebrating 10 years of providing Hawaii’s homeowners with efficient and competitive mortgage programs. “Our success in today’s mortgage industry is due to the fact that, when the market turned, we diversified the business into appraisals, real estate sales and development, and a work-force development program,” said Cathy Brogan, president and CEO of NorthStar Family of Companies. While over 70% of mortgage brokerage and real estate companies throughout Hawaii and across the country have been forced to shut down, NorthStar Family of Companies has remained able to not only succeed, but to also thrive, in one of the most difficult mortgage industry periods over the past 100 years.
In order to remain competitive in today’s mortgage industry, the NorthStar Family of Companies diversified to include divisions such as NorthStar Alliance Inc., NorthStar Enterprises, NorthStar Brokers and NorthStar University. With each division in place, the company is able to provide customers on all islands with a complete range of customized and full-service residential real estate services. Their product line includes residential mortgage loans, appraisal and valuation services as well as real estate sales and related services, credit score improvement and workforce development. They have also expanded across the mainland with offices now in California, Oregon, Washington, Colorado, Pennsylvania, New Jersey and Florida.
Additionally, to ensure continued success and increased profitability of existing and valued mortgage broker clients in a volatile atmosphere, NorthStar Alliance, Inc. has developed a unique program, entitled NorthStar Branch Associates (NBA). The NBA program offers mortgage brokers the opportunity to thrive and ensure a profitable future in a rapidly changing marketplace and unpredictable environment. Mortgage brokers have the opportunity to operate as a Banker with no net worth requirement while keeping 100% of branch net profits. As an added benefit, Branch Associates continue to have, at disposal, the ability to Broker loans at will to industry Top Lenders. They also enjoy the benefits of a Lender with a trusted name in the industry coupled with all of the flexibility of an independent Broker. In addition, another program that NorthStar Family of Companies has recently developed NorthStar Credit Score Improvement ( NorthStar CSI), a partnership with real estate professionals and non-profit social services staff and clients.
NorthStar CSI provides free Credit Score Improvement seminars for non-profit social services staff and clients and also free seminars for mortgage and real estate professionals for their clients seeking home ownership. The purpose of the free seminars for non-profits is to give both program staff and individuals an understanding of how credit scores can impact a person’s overall quality of life, presenting barriers to employment, affordable loan rates, a dream home or a desirable rental unit. For Mortgage and Real Estate Professionals, the free seminars is made to enhance their knowledge of ever increasing regulations and stricter credit score guidelines, causing many potential homeowners to not qualify for interest friendly mortgages.
“While many mortgage and real estate institutions have failed to change with the times and have ceased lending, NorthStar Family of Companies will continue to diversify,” said Brogan. “We look forward to a very promising future and will continue to create home ownership opportunities for Hawaii’s families.”
NorthStar’s mortgage customers are provided with a step-by-step approach, personally guided by a NorthStar representative, throughout the complete borrowing process and the entire real estate financing and transaction process from beginning to end, while enjoying minimized costs and maximized efficiency keeping all services in-house and Helping You Find Your Way Home. For more information, please visit the official website at www.northstarfamilyofcompanies.com.
Mana Means Communications 1088 Bishop St. Ste. 1209
Honolulu, Hawaii 96813 Ph 808.521.1160 Fax 808.521-1104
Janet M. Scheffer / Rose Begonia, Mana Means Communications,