There was a good article from the San Jose Mercury News over the weekend; 4 reasons to use a mortgage broker!
Overview:
Speed and Customer Service: There is a critical distinction in a world where the traditional mortgage banks have made it difficult for a loan to get approved, underwritten, and funded in a timely manner. Mortgage Bankers may not have the power to speed up the underwriting and funding process, where mortgage brokers can in critical situations.
You need someone who :
1) is skilled at the art of mortgage and have many avenues and work arounds in check well as a history of overcoming obstacles that arise in today's lending environment
2) is truly motivated to close every single transaction that they work on
3) has the relationships with various lenders underwriters to get things done in a timely manner
4) who wants your business and referrals to generate long term business for agents and brokers
In addition:
Four Market facts to chew on:
1. Rates are expected to stay below 5.5% for fixed loans through the 3rd quarter of 2012 & current rates are to remain stable through this quarter
2. Jumbo loans are going to start to become easier to do as the private securitization markets are developed. Credit guides will widen and it will become easier for Jumbo loans to go to closing.
3. Housing prices are stabilizing
4. There is cycle to the housing markets in CA and it is predicted that you should see a sharp rise in the purchase market by April of this year as houses go on the market.
In a lending landscape that is still changing and a market that is challenging, keep us in mind - we want to work with each and every one of you.
Thank you, Olivia and Rick
Preferred Loan Group
Carmel, CA
Comments(1)