Southwest Business Corporation (SWBC) is a mortgage servicer that offers numerous options to those looking to refinance or buy a home for the first time. You can make an insightful decision about using SWBC Mortgage Company by understanding the company’s business model, its range of products and how it can service your needs.

Who They Are

Southwest Business Corporation was founded in 1976 by its current president, Gary Dudley, and its current chairman, Charlie Amato. The company headquarters is in San Antonio, Texas, and it is a private company. The two founders grew up in the same Texas town, attended the same university and started the company with only $1,500 in capital on April 1, 1976.

SWBC started as a firm that catered to the needs of banks, credit unions and other lending institutions by helping them to mitigate risk, avoid losses and strengthen their portfolios. The two focused on providing quality services that improved profitability and service levels of the institutions. Dudley and Amato expanded their business by servicing the needs of those in the banking, financial and lending industries,

As of 2016, SWBC employed over 3,500 employees across the United States and was licensed in all 50 U.S. states for mortgage services. The company is involved in three core business streams, including individual, commercial and institutional services, in areas such as insurance, mortgages, business financial services, wealth management and more.

Mortgages Products Offered

Conventional mortgage loans are mortgages under $417,000, which may vary slightly by region, and are called conforming loans. Down payments as low as 5% are accepted, but no mortgage insurance is required for loans with a 20% down payment or 78% loan-to-value (LTV) ratio.

FHA mortgage loans are insured by the Federal Housing Administration (FHA), with a down payment of just 3.5% and 96.5% LTV.

Jumbo mortgage loans are considered non-conforming loans and are higher than the $417,000 limit set by Federal National Mortgage Association (Fannie Mae) (OTC: FNMA) or Federal Home Mortgage Loan Corporation (Freddie Mac) (OTC: FMCC). Loan amounts can be as high as $3 million and LTV up to 80%.

VA mortgage loans are guaranteed by the Department of Veterans Affairs, with no required down payment up to the conforming limit and a 4% seller concession allowed.

USDA Rural Development mortgage loans offer home mortgage loans to those in rural areas with a median income or less. The loan offers 100% coverage of appraised value of the primary residence and 6% seller concessions for closing costs. The loan program is offered by the U.S. Department of Agriculture.

Renovation mortgage loans include three different national programs to help homeowners afford to renovate their homes, including the FNMA Homestyle Renovation Loan, FHA 203(k) Standard and the FHA 203(k) Limited loan programs.

Mortgage Rates

SWBC does not post its mortgage interest rates online, as it states that mortgage rates are subject to change on a daily basis. Those who wish to receive SWBC's current rates can complete an online prequalification request form or a full loan form.

What Consumers Are Saying

SWBC is not included in the J.D. Power and Associates Primary Mortgage Servicer Satisfaction survey and is not included in any other customer satisfaction, ranking or review sites of note. SWBC is, however, listed as a member of the Better Business Bureau (BBB) for a number of its branches, including its headquarters, for which it has received an A+ rating. Its most-reviewed mortgage broker on Yelp received four and a half stars across five reviews. However, as of May 2016, there were not enough reviews online to give consumers a definitive overall impression of the company.

SWBC is a qualified mortgage lender with specialized experience in commercial and small business financial solutions. Its foray into consumer mortgage lending has a strong track record, with 11 loan officers listed in the top 1% of mortgage originators in the country.

Sun West Mortgage Overview

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Frequently Asked Questions
  1. What Was the First Company to Issue Stock?

    The Dutch East India Co. held an IPO in 1602, making it the first company to issue stock.
  2. When Does a Corporation Decide to Refinance Debt?

    Favorable market conditions or the strengthening of a credit rating may lead to refinancing.
  3. What Is an Odd-Lot Buyback?

    Odd-lot buybacks involve lots of less than 100 shares. Learn how companies get these shares back.
  4. Can I buy a house directly from Fannie Mae (FNMA)?

    Yes, Fannie Mae does sell properties it's foreclosed on; each property is sold in "as is" condition.
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