Apex Mortgage Corp.

About Us - Overview

APEX Mortgage Corp. was established in November 1991 to provide direct lending to small business owners who are unable to obtain traditional financing. In 2001 APEX became a wholly owned subsidiary of Firstrust Bank, headquartered near Philadelphia, PA. For over 15 years APEX has concentrated on originating and servicing loans to small business owners. All loans are held in APEX’s own portfolio. No loan is ever sold or securitized.

Since 1934, Firstrust Bank has been owned and managed by the Green family, who are dedicated to helping the communities they serve prosper. Backed by Firstrust, APEX is able to take a “common sense” approach to underwriting. APEX is able to make decisions on loans based on the borrower’s entire story, not just the numbers on paper.

By specializing in business loans and commercial mortgages secured by many types of real estate, APEX has developed a niche in marketplaces in which the number of community banks providing similar products and services has declined.

APEX offers a full array of loan programs for self-employed applicants, including "no income verification" loans secured by both mixed-use and commercial real estate.

APEX offers loans ranging from $25,000 to $750,000. The Company processes and services these loans at its headquarters in Ft. Washington, Pennsylvania. The Company conducts business in 43 states nationwide.

Company History

As an orginator and servicer of loans for its own portfolio, APEX offers clients a "no red tape" approach to obtaining their financial needs. Applicants can make a cost-free application by telephone or through an independent mortgage broker, and receive credit approval within 24 hours.

Underwriting is conducted through both internal credit analysis and an on-site inspection of the borrowers business and collateral by an independent inspection company retained by APEX. Once underwriting is completed, settlement is usually concluded within twenty business days.

APEX's portfolio is comprised of approximately 96% fixed-rate loans and 4% adjustable-rate loans.

APEX's strength in the marketplace is attributed to its unique underwriting process. Each application is evaluated by a credit officer prior to the presentation of a rate and term quote. If the borrower is interested in APEX's proposal, then a loan officer conducts an in-depth telephone interview. This process allows the loan officer to effectively evaluate a borrower's credit worthiness and debt service capacity by allowing them to develop aspects of the borrower's character, capacity and credit that are not apparent on paper.