Why Use A Mortgage Broker??
Mortgage broker February 8th, 2008First lets take a look at what exact they do. A (or consultant/specialist) is an independent agent, an intermediary between you the consumer and the mortgage lender. The /specialist will shop the available lenders to find the mortgage product that offers the best combination of features, options and rates to suit your individual circumstances. The best part - depending on your credit picture - there is no charge to the consumer for the service! The /specialist’s fee is normally paid by the lender. With fluctuations in interest rates, homeowne
rs have become more aggressive in seeking out the best terms from a lender. According to stats culled by the more than 50 percent of Canadian home buyers accept the first rate their bank offers. Not only does that mean most of them are settling for the first quote, but that the majorities are not using a . When applying for a mortgage at your local bank they can pull anywhere from 1 to 2 credit checks on you. As we know the more credit checks the lower your credit score will be. When through a /specialist they check your credit only once and they are able to use that report and submit your application to over 30 mortgage lenders multiple times. Another plus about going to a is that some lenders only accept applications from only. A can also be a source of information and an unbiased help in finding the options available in the mortgage industry today. Wondering about the advantages of ? Want more information on the Home Buyers Plan? How about advice on adjustable term mortgages? Having problems getting a mortgage because you’re self-employed? Or maybe you need special help arranging financing for an investment property. These are the kinds of issues a mortgage broker can help with, and at no cost to the buyer. To find your local mortgage broker/specialist use this on to find one closest to you!
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Why Use A Mortgage Broker?
Mortgage broker September 19th, 2007Because if Countrywide were to declare bankruptcy, your local experienced mortgage broker still has great mortgage products from quality lenders like Wells Fargo. Here is a recent memo from Wells Fargo to the mortgage broker community;
Together, We’ll Succeed
Since 1852, Wells Fargo has been delivering superior service to its customers based on their business needs. In today’s mortgage market, Wells Fargo stands out as a lender who is committed to its clients – one with a long track record of strength and stability.
Wells Fargo is a well capitalized, diversified financial services company – the only bank in the U.S., and one of only two banks worldwide, to have the highest credit rating from both Moody's Investors Service, "Aaa," and Standard & Poor's Ratings Services, "AAA." In other words, we have the financial strength to succeed in this market and continue to serve your lending needs.
There is no question that Wells Fargo Wholesale Lending’s success comes from our relationships with you, our quality brokers. We remain strongly committed to you and to the wholesale business.
Here’s How Wells Fargo Can Help You Be Successful
Products and Pricing: We remain committed to offering a range of lending options, including conforming, government and home equity loans and lines – with competitive pricing to help you fulfill the needs of your customers. Plus, we recently announced price improvements on some of our products, giving you even more to offer your customers.
Our Veteran Sales Team: Our account executives have tremendous mortgage experience and they’re eager to work with you to create a plan for success in this challenging market. They can answer any questions you have about our product sets, our pricing specials, program options, and our Direct ExpressSM loan feedback tool.
Operations and Customer Support: We have great teams prepared to serve you – experienced people to underwrite and process your files quickly and smoothly. And, we have knowledgeable support teams ready to answer your questions, discuss scenarios and smooth out any wrinkles that might arise.
Today, more than ever, you need a lender you can count on. Wells Fargo’s been going strong for more than 150 years. Rest assured we’re ready to deliver on the needs of your business, now and in the future.
Regards,
Kathleen Vaughan
Executive Vice President, National Manager
Wells Fargo Wholesale Lending
Don't be to quick to kick your mortgage broker to the curb. The good ones are in this business for the long haul and will continue to protect you and your home buying clients by maintaining many lender relationships to cover any catastrophe caused by a giant like Countrywide going out of business.
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Why use a Mortgage Broker
Mortgage broker June 28th, 2007Since regulation in 1988 the Home Loan Mortgage Broker has had a significant positive impact in the lending industry. Today the use of a professional Mortgage Broker is one of the key strategies used by sophisticated borrowers.
WHAT IS A MORTGAGE BROKER
Licensed under the Consumer Credit Act and authorised by the Financial Services Authority the Home Loan Mortgage Broker is a specialist in recommending and arranging all types of Mortgage Lending. Normally with direct access to a full range of Lenders and many hundreds of mortgage products your Home Loan Mortgage Broker provides the most efficient and cost effective way to obtain financing tailored to your specific needs and goals.
WHAT PRACTICAL HELP WILL MY MORTGAGE BROKER PROVIDE
In the ever changing home lending market your Home Loan Mortgage Broker can offer their clients security, safety and peace of mind. He will monitor your mortgage through the whole application process to ensure a smooth transition through to completion. A professional Mortgage Broker will act as liaison between you the borrower and all other parties involved in the mortgage process. These parties might include any or all of the following :- Lender, Solicitor, Estate Agent, Vendor, Valuer, Underwriter, Credit Agency etc
WHY USE A MORTGAGE BROKER RATHER THAN DEAL DIRECT WITH A LENDER
Your Home Loan Mortgage Broker can normally research the products available with the various lenders using cutting edge technology and would normally have exclusive deals not available direct from the lender. Any Mortgage Broker worth his salt will be paid only on results ie satisfactory completion of the mortgage arrangements. The Financial Services Authority authorise the Home Loan Mortgage Broker in the UK ensuring financial viability of all companies and also ensuring professional indemnity insurance is in force to protect borrowers. The Mortgage Broker in providing volume business to the Lenders can in many instances obtain favourable underwriting terms and be able to complete mortgages that would otherwise be declined. In addition access to non traditional lenders can prove invaluable in placing cases outside the mainstream lending criteria.
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