| Metrocities Mortgage, a national home loan lender based in Southern California, has an unusual model, using affiliated business arrangements, or ABAs, as its main business driver. Metrocities is also progressive in the technology arena, with automated underwriting to expedite the loan process and a proprietary search engine that assists in finding the best loan programs and pricing to meet the unique needs of each individual client. Metrocities forms alliances with real estate agencies, builders, financial firms and others to provide "one-stop," in-house shopping services for residential real estate clients. The company's divisions include No Red Tape, a wholesale lender that lets brokers submit loan applications online that funded $3 billion in loans online in 2005. |
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