most brokers have worked in the business longer and have ventured away from the bank because they prefer to have control and don’t need the branch to feed them business anymore.. You are rolling the dice with a Banker, most are just order takers and cannot pre-underwrite a file correctly...
What they need is someone who ‘speaks their language’, banker-ese, so to speak.One of the only things that will move them to act isan attorney who understands the lawand whattheir obligations are on the fine printof the mortgage contract and the loan servicing agreements. When the attorne...
Wholesale Mortgage Lender | Certified Mortgage Planner | Senior Loan Officer | Mortgage Broker | Mortgage Banker San Diego, CA Mortgage Banker vs Wholesale Most potential homeowners are unaware that they currently, have 3 options when it comes to getting a home loan. *If you do not want to …...
If an underwriter makes a credit decision based on the loan officer's influence versus the actual documents and what they say and what a credit decision should be based on, Now the Mortgage Banker owns this $400,000 loan or this $300,000 loan. Knowing that, who are you going to go ...
If you have an existing U.S. Bank first mortgage, a U.S. Bank Smartly® Checking account or an existing Gold or Platinum Checking Package, you may be eligible for a client credit5of 0.25% of the loan amount deducted from the closing costs of your new first mortgage, up to a maximum...
I locked in a 4.375% rate yesterday with a signed Float/Lock Agreement document. Can i tell my loan officer i want to unlock the already locked rate since rates are lower today and my closing is in 30 days? Colin RobertsonApril 21, 2017 at 3:23 pm ...
About the Author: Bill Sheikh is a Sr. Mortgage Banker who specializes in mortgage planning at ZFG Mortgage in Tulsa, Oklahoma. He can be reached for more questions at billsheikh@zfgmortgage.com or by calling 1-877-205-7266. www.zfgmortgage.com ...
Mortgage Brokers vs. Loan Officers When consumers wish to buy or refinance a home, often their first step is to contact a loan officer in a local bank or credit union. A bankloan officeroffers programs and mortgage rates from a single institution. Unlike a loan officer, a mortgage broker wo...
to have a mortgage broker originate your loan, take the time to research and compare different broker costs, services, etc. before you make a final decision. If you find that the downsides of working with a mortgage broker outweigh the benefits, then a mortgage banker may be a better ...
Sarah Johnston is “sick with worry”. A 43-year-old teacher in East Yorkshire, she and her husband, a long-serving police officer, will face the full force of themortgage shocknext year, when they come to refinance borrowing on their “forever home”. ...