REAL ESTATE
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24-Hour Loan Approval: In an attempt to speed up the home mortgage process, BrooksAmerica Mortgage Corp., a 3-year-old Santa Ana mortgage lender, said it is offering 24-hour loan approval. Called “Instapproval Express Underwriting,” the program allows for a loan to be approved in 24 hours if a borrower has all the necessary paperwork in order.
“I think it just takes too long and costs too much to get a loan,” company President Michael Brooks said. “We decided we had the ability to make some changes in the way financing is obtained.” Last year, the company funded $1.06 billion in loans.
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