#United States #Atlanta #HousingWire #Equity Prime Mortgage #FHA Loans

Equity Prime Mortgage Sets the Record Straight

In a robust response to HousingWire's recent report, Equity Prime Mortgage (EPM), a leading Latino-owned mortgage lender, clarified misconceptions stemming from misleading news headlines. On September 12, 2025, EPM's CEO, Eddy Perez Jr., addressed claims suggesting a total termination of the company’s approvals for FHA loans nationwide. In reality, the action taken by the authorities was isolated to specific jurisdictions, allowing EPM to continue providing FHA loans across the country.

EPM's statement emphasizes how sensationalism in reporting can mislead the public and ultimately hinder families' access to homeownership. Perez stated, “This isn’t about bad credit or poor underwriting; it’s about a targeted action, not the sensationalist headline HousingWire produced.”

The company criticizes the way delinquency ratios are portrayed, arguing that these figures do not correctly reflect financial stability. Many families are still fulfilling their payment obligations amidst rising property taxes and inflation that have escalated costs for qualified homebuyers. The current economic climate creates challenges for families, including first-time buyers and those from minority backgrounds, who are seeking fair access to homeownership.

Philip Mancuso, President and Partner of EPM, echoed these sentiments, stating, “Numbers alone can’t tell the real story.” The true picture, they argue, is of families demonstrating resilience and fighting hard to preserve their homes in challenging times. EPM asserts that existing statistics fail to portray the strength of these households who are striving for stability and wealth building.

EPM’s borrower demographic is telling—over 90% of borrowers are minorities, women, first-time buyers, veterans, or from rural backgrounds. The impact of rigid financial formulas, they argue, disproportionately affects communities who need support the most. As Perez pointed out, “How do we say no to the people who need help the most? That isn’t the American way.” EPM is dedicated to ensuring The American Gift—the opportunity for homeownership—is available to everyone, especially those in underserved communities.

To protect against future misunderstandings like this one, EPM is implementing several changes. These include new partnerships for servicing, updated guidelines surrounding gift funds and debt-to-income ratios, and a renewal of their down payment assistance program to better meet their community's needs. They have even appointed Frank Razi, a former HUD leader, as Chief Credit Officer to oversee future credit and portfolio strategies.

Past actions during the pandemic also highlight EPM’s commitment to its borrowers. As described by Mancuso, EPM was one of the few lenders prepared to provide liquidity during those uncertain times, ensuring that no loans were deferred or credits restricted.

Conclusion

The controversy underscores the necessity of precision and fairness in media reporting, especially within the mortgage industry. EPM remains unwavering in its mission: to provide access and opportunities for families to achieve the dream of homeownership despite headline sensationalism. *