US-based Discover Financial Services has
launched Discover Home Loans and marked its entry into the mortgage
market.
The new Discover Home Loans product will
“complement the company’s line of savings, lending and other
direct-banking products”, according to Discover.
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Carlos Minetti, president of consumer banking
and operations for Discover, said:
“Home loans are a product our customers have
been asking for, and our approach offers the simplicity,
transparency and personalised service for which Discover is
known.
“We are committed to setting a new standard of
excellence in the market for home loans – just as we have done in
credit cards, deposit products, private student loans and personal
loans.”
According to Discover, the application process
for the Discover Home Loans will be “streamlined” and a
‘close-on-time commitment’ will be offered
to customers, if the loan is not closed as scheduled, via
which they are given a credit of up to a $1,000 toward closing
costs.
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By GlobalDataA ‘Welcome Back Bonus’ credit of up to
$2,000 will also be offered toward closing costs for return
customers who choose Discover for future home-buying and
refinancing needs.
