Orlando, FL. September 4, 2015 - Robert Palmer, President and CEO of RP Funding was once again named one of Orlando's "40 Under 40."
The 2015 "40 Under 40" Awards recognized professionals under the age of 40 for their outstanding contributions to their organizations and the community at large. A panel of esteemed judges from the Orlando Business Journal (OBJ) and the local business community selected 40 winners from 253 qualified nominations. Palmer also received the honor in 2013.
"I'm honored to receive these awards," Palmer said. "Our growth is a real testament to the hard work of my staff. I especially want to thank all our clients who have trusted RP Funding to meet their mortgage needs. We couldn't have done it without you!"
Foreclosure attorney Justin Clark, managing partner at Gregory and Clark, isn't surprised that RP Funding is earning accolades from the local and state business community.
"Robert's success is defined by one simple thing that he's built his business on," said Clark. "Robert Palmer is dedicated to treating people with respect and honesty."
"In a business where people try to get as much money out of their customers as they can, Robert has redefined how the mortgage business is done. If you call RP Funding, you know you are going to get the best mortgage deal you can get."
RP Funding's business model is based on the concept of charging no lender fees. While the average loan officer might close one or two loans a month, requiring thousands of dollars in commission and extra fees, RP Funding's loan officers are paid a salary and close 15 to 20 loans each month. The savings are passed on to the buyer, without sacrificing RP Funding's commitment to customer service.
It's an idea that is starting to affect the very nature of mortgage lending, according to Ivalo Manolov, president of Longwood-based Signature Financial.
"It's already changed the game," Manolov said. "We've seen a lot of his competition, including ourselves, basically have to do the same thing - no junk fees, no underwriting fees. You have to cut your margins to be competitive."
RP Funding ranked as the No. 3 FHA lender in the Orlando area and 13th on the Orlando Business Journal's list of the city's largest conventional lenders. And while the company currently focuses on the local market, it plans to expand throughout Florida, then other states.
The way RP Funding has grown so fast in a short amount of time, industry leaders see huge opportunities.
"Robert Palmer's model and brand has potential to be exported first in other markets in Florida and then throughout the Southeast United States," said Ken Jones, senior vice president with Atlantic Coast Bank in Jacksonville. "He's growing quickly and building the company with good people."
The 40 Under 40 class of 2015 will be honored at an October 15 event at Audi North Orlando in Sanford.