When it comes to choosing a mortgage company that you are going to choose its important to know who you are working with. Are you a member of a credit union? Then you may consider going to your credit union for a mortgage loan. When you go to your credit union you will usually be working with an hourly employee of the credit union who works in the "loan department". They may not be specifically trained or experienced in residential mortgage loans. Chances are they do some mortgage loans, but they also may do personal loans, car loans, small home equity … (0 comments)
selecting a mortgage company: Selecting a mortgage company Part 1 of 4 What do mortgage brokers do?
- 06/24/14 05:13 AM
When it comes to choosing a mortgage company that you are going to choose its important to know who you are working with. A mortgage broker is usually an in-between company that has a contract with other mortgage lenders that agrees to pay them a fixed percentage on any loan that closes through their company. In this scenario a borrower/client meets with the mortgage broker, provides documents and the loan originator discusses the programs, rates, fees etc... for the particular lender that best suits the clients needs. Assuming that the client qualifies, the Loan Originator sends the file to his/her loan processor and the file usually goes … (8 comments)
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