Iowa Bankers Mortgage Corporation’s new Heritage pricing became effective Oct. 28, and the change is welcome news for both lenders and borrowers.

The mandatory origination fee has been eliminated on IBMC conventional conforming and government loan products, giving borrowers more flexibility to choose their rates and fees. Although the origination fee will still exist on Iowa Finance Authority and RuraLiving loans, our bank partners will now receive 1.5% compensation on all products — up from 1% — increasing an originating bank’s earning potential.

Details of the updated Heritage pricing were announced last month, but if you have specific questions please contact Shana Light, Megan Severson, Stephanie Eggert or Kristin Smith. 

Name: Nancy Hunt

Job title: Registration processor

Years of mortgage experience: Over 20 years

Favorite part of the job: I love the variety of work and working with the staff here. It’s one of the best places I have ever worked in my 50-plus years of being in the workforce!