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GE Capital Mortgage Corp. is offering a streamlined refinance option that company officials said is a first-of-its kind for the private mortgage insurance business.
GE Capital Mortgage, Raleigh, NC, is offering what it touts as "fast lane" processing for qualified refinancings.
Kurt Arehart, a GE assistant vice president, said the new product takes a three-pronged approach.
The first prong, or category, is for loans that GE is currently insuring. The second is for loans sold to Fannie Mae and Freddie Mac. The third is for all other refinancings. For loans that GE insures, it requires minimal documentation and no new appraisal, Arehart said.
He said GE has a refinancing hot-line (800-434-2427) to determine whether the loan is currently GE-insured. Arehart said GE has established longer hours and...