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COVID-19 Update

To our Valued Broker Partners,

First, on behalf of the entire team here at Luxury Mortgage, we hope that this finds you, your family and loved ones safe and healthy.  As a valued business partner, we are writing to bring you up to speed on the latest developments here at Luxury Mortgage in response to the COVID-19 pandemic and how we are navigating the volatility and turmoil that currently exists in the financial markets and our industry as a whole.

In February, we mobilized our pandemic planning in anticipation of the possibility of pivoting our employees to a remote work environment. Thankfully we were ahead of the curve in this regard and as a result, we are very proud to say that earlier this month, we seamlessly enacted our plan for our entire staff to work remotely. The health and safety of our dedicated employees have always been our top priority since we established Luxury Mortgage back in 1996. Regardless of whether we are working from our various office locations or remotely from home, our core objective remains to provide superior end-to-end service delivery to our incredible broker partners.

We are also very grateful and proud to say that Luxury Mortgage couldn't be on a more solid financial footing. We have among the strongest balance sheets in the industry, and expansive warehouse capacity. We have an abundance of liquidity and we are uniquely positioned to continue our trajectory to become the premier Non-Agency/Non-QM lender in the country. Make no mistake; when we all get through this crisis together (and we undoubtedly will), we believe that we will be even stronger and more resilient than before. The future is bright for all of us, and Luxury Mortgage will have a key role to play in re-defining and repositioning the credit box in the Non-QM space.  

Today, we must confront the imminent challenges that current market conditions in the non-agency space present, with bold and decisive action. This is a fluid situation and events are unfolding in realtime.  This turmoil is requiring us to make a business decision out of an abundance of caution. Therefore, our lock desk will remain closed for the time being. We anticipate publishing an updated rate sheet and product guidelines as soon as conditions permit, while we navigate through this unprecedented national pandemic.

During this time, our Account Executives and staff remain ready, willing and able to serve you and answer any questions that you may have. 

We treasure our broker relationships and this decision was not made lightly. We fully appreciate and understand how this is adversely impacting your business and ability to provide your customers with a best in class financing experience. Just know that we are committed to this space and we will be back even better than before and hopefully sooner than later. Will will keep you apprised going forward and we wish you continued good health. We will prevail.

Sincerely,

David Adamo
Chief Executive Officer