University Mortgage was founded in 1982 in University Place Washington, http://cityofup.com/ near Tacoma, WA. Founded by M. Wayne Brooks – President, NMLS#70208. Wayne Brooks worked for Mason McDuffie Mortgage prior to opening First University Mortgage. He was a top producer and honored by Mason McDuffie for his production and loan closings. Mr. Brooks specialized in loans others turn away from.
Born in Bremerton Washington. His father a Naval Officer, he has a respect and empathy for the Navy personal trying to purchase homes. His area expanded to Tacoma, Lakewood and Puyallup to assist the Army and Air Force personal in acquiring homes in the area. He originated home loans using the VA home loan program //www.va.gov/. Wayne was a fixture in the Seattle VA office at the federal building in Seattle fighting for the rights of Veterans and active duty personnel. Closing over 1200 VA loans to date.
He also originated and closed over 800 FHA http://www.fha.com/ first time home buyer loans. Wayne served the first time home buyer even if the buyer was not a Veteran.
University Mortgage Funding Corp. Welcomes new first time home buyers. We welcome the buyer with credit issues. We work diligently to clear up issues on credit reports and miss information on job history or other issues that would be a barrier to entry for home buyers.
Mr. Brooks has expanded his expertise to included the USDA home loan program. http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do . This program allows for first time home buyers to purchase homes in the less served rural areas of the State of Washington. The USDA home loan program allows for buyers to purchase a home with 0 down. As a active loan originator Wayne is involved in securing funds from the USDA home loan pool. These funds often run out each year prior to Congress voting in more funding. Mr. Brooks works with congress person Patty Murray to secure funding for these loans.
In the mortgage meltdown in 2008 Wayne moved to assist Fannie Mae the mortgage lending arm of the United States of America. He assisted in working with them in liquidating the foreclosed properties in the State of Washington using the Fannie Mae Homepath program. http://www.homepath.com/. This program allows purchasers to move into a Fannie Mae home with minimum down and credit does not have to be perfect. Working directly with Fannie Mae underwriters and funders he has been able to secure and liquidate many of the Fannie Mae owned homes in Washington. His efforts have helped the housing recovery to gain momentum in home sales helping in the acceleration of sales in the housing industry. Working hand in hand with local Realtors he has been able to be a part of the improvement of home values in our local economy.
You can trust assured that Mr. Brooks will work diligently and effectively in helping the home buyer achieve the goal that they are looking for. Giving the home buyer hands on help on credit issues, home pricing, title problems he is a problem solver.
Changes to the Property Value could change the results in a significant way. Lendersa® sliders allow you to make fast changes to explore your financing options.
You can change the property value by moving the Property Value slider up or down or by entering a new Property Value manually in the Property Value box.
When you change the Property Value, only the LTV will change, and the Loan Amount will remain the same Loan Amount.
Other advanced sliders’ options are available with Lendersa® Advanced Calculator
CloseChanges to the loan amount, even so slightly, could change the results in a significant way. Lendersa® sliders allow you to make fast changes to explore your financing options.
The Loan Amount Slider
Change the Loan Amount by moving the Loan Amount slider. (The LTV will change, and the Property Value will remain unchanged).
The LTV Slider
Change the Loan Amount by moving the LTV slider. (The Property Value will remain unchanged).
Other advanced options are available with Lendersa® Advanced Calculator
CloseLTV is the abbreviation of Loan To Value, and it is the ratio between the Loan Amount and the Property Value. The formula to calculate LTV is Loan Amount divided by the property value. 
Example: Loan Amount $300,000, Property value $400,000 
Changes to the LTV, even so slightly, could change the results in a significant way. Lendersa® sliders allow you to make fast changes to explore your financing options.
The Loan Amount Slider
Change the Loan Amount by moving the Loan Amount slider. (The LTV will change, and the Property Value will remain unchanged).
The LTV Slider
Change the Loan Amount by moving the LTV slider. (The Property Value will remain unchanged).
Other advanced options are available with Lendersa® Advanced Calculator
Close
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NMLS 1795154