Consumers need to know that mortgages and the mortgage industry is changing by the day. Less choices is not good for the consumer whether they are buying or selling a home in Atlanta. This is a short but concise Blog that highlights some fast moving events in financing, and home lending.
It was written by Mortgage Professional:
edward moloney
Holliston, MA
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Edward Moloney Zenith Mortgage Advisors
Via
edward moloney:
A few weeks back Wacovia announced that they were closing their wholesale mortgage division and then followed up with closing much of thier retail offices. Today GMAC announced closing entire divisions. It will be interesting to see what happens to Dietech *we have seen their commercials 1000 + times on the TV. They are a division of GMAC. In the end it is more important then ever to be working with a independent mortgage broker. They will have many lenders to choose from and are in most cases like myself 100% referral based. This means that client satisfaction is a key to their success and this is great for the consumer. Again keep an eye on the media. Interesting times ahead
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I had a call today from a mortgage lender that had cut way back and let go most of its account executives. He called to introduce himself after about a year to say that they were still open. We have had almost a complete turn over in lenders, adding about 10 new lenders to replace the 10 or so we had used who had closed.
There is a lot to keep up with nowadays. Solvent and competent lenders is just one.
Customer service though is gaining priority on all fronts.
Richard