I think it's time I ask around for some insite on the future of mortgage lenders. With mortgage lenders closing up shop left and right who are going to be the leaders for conventional and FHA?
Interfirst (ABN AMRO) has been our companies main lender, now they were bought by CitiMortgage, they have already taken away some of our incentives.
National City home equity was a great bank to go to for heloc's and currently they arn't taking any applications...where to go? Fifth third? They are o.k. but Nat City was awesome and had a great commission!
Our company is searching around for some new lenders to take aboard. TBW is coming in to present this week and Aurora was just in.
The lowest rates with the best commission is always important but with the mortgage market going the way it is, fast and easy underwriting is starting to become very important in getting these loans from start to close.
If anyone is working with a great lender please let me know! I would love to set up our company with a new lender!
We are set up to do business with Chase, Countrywide, Fifth Third, First Franklin, Flagstar, Homecomings, Interfirst, M&T Mrotgage, Michigan Mutual, Mortgage IT, 1AM, Ohio savings bank, TBW, Towne Mortgage, Wells Fargo, and Aurora.
We are based in Michigan and do majority loans there but are approved in Florida and Colorado. Whats your favorite conventional? Fha? Jumbo in Colorado? What about home equity line of credit?
Thanks!
Alana Humphreys
Grant Holmes Asistant
Great Lakes Mortgage Funding
alana@glmf.com