About FEMBi Mortgage
First Equity Mortgage Bankers, Inc., better known by its acronym, FEMBi Mortgage, began its mortgage-financing career under the name of No Equity Mortgage Company in September 1997. The company was originally founded to market and originate high loan to value residential second mortgages. With the down sizing of the over-equity loan market in 1998, and the company's expansion into the origination of government and conventional first mortgage loans, the company name evolved to its current name; FEMBi Mortgage.
In early 1999, FEMBi Mortgage expanded its lending operations to Puerto Rico and is currently the exclusive on-site lender at numerous residential developments, including every new development of the largest builder in Puerto Rico. In Florida, FEMBi Mortgage has established business relations with numerous other homebuilders throughout the state and is the preferred lender for several of them. In 2006 the company received the 2006 Mortgage Lender of the Year Award by the Builders Association of South Florida. FEMBi Mortgage is also a member on the board of directors of the Latin Builders Association, arguably the most influential trade association in Florida.
FEMBi Mortgage is the preferred lender for Century 21 Premier Elite Realty and has service agreements with several community banks and federal credit unions to manage their residential mortgage origination functions. The company also hosts live weekly homeownership education forums on local radio stations.
FEMBi Mortgage is an unsupervised mortgage lender approved by the Department of Housing and Urban Development, the Department of Veteran Affairs, and the Department of Agriculture to originate FHA, VA, and Rural Housing loans, respectively. FEMBi Mortgage is also an approved "Seller/Servicer" of Fannie Mae and Ginnie Mae, and has delegated underwriting privileges with the nation’s largest institutional investors.
In their yearly rankings of the Top 500 Hispanic owned businesses in the United States, Hispanic Business ranks FEMBi Mortgage in the top 5% of the nation based on gross revenues. In addition, South Florida CEO and The South Florida Business Journal list FEMBi Mortgage as one of the TOP 100 Private Companies and TOP 100 Fastest Growing Companies. Caribbean Business also lists FEMBi Mortgage as the largest privately held mortgage bank in Puerto Rico.
FEMBi Mortgage currently employs over 108 professionals, including 65 full-time loan originators. The Company maintains two main offices in South Miami, Florida and in San Juan, Puerto Rico with several other origination and processing branch offices throughout South Florida. FEMBi Mortgage has enjoyed steady and significant growth in loan production, revenue, and net income during the last ten years.