Steve McRory's Blog

Mortgage and Lending - Pro Option Mtg. 888-662-4404 - 888-662-4404 /nmls#204296
Dealing only with the Listing Agent in hopes of getting a better deal? Not a good strategy.  Why? Because if the listing agent is getting the whole 6%, they’ll actually work harder to make you pay the highest price for their Seller in effort to justify such an massive equity grab! Dealing only wi...
Saying you have a 700 credit score is not considered as good as it used to be, especially with new scoring modules for the mortgage indusrty.  The below is a good rule of thumb 840 - 800 Best 799 - 760 Excellent 759 - 740 Very Good739 - 720 Good719 - 700 Above Average699 - 640 Average639 - 620 Be...
Banks, Mortgage Bankers, Mortgage Brokers and Credit Unions are not Licensed Credit Report Vendors and do not distribute copies of their reports on borrowers.   However, Federal law requires each of the three nationwide consumer credit reporting companies - Equifax, Experian and TransUnion to giv...
Service Release Premium (SRP)/ Overage is profit that banks make when they sell a Borrower's loan to a servicing company post closing.  Amazingly, banks are legally allowed to hide this profit, never having to disclose it to consumers.  Banks make money on the interest rate they sell to borrowers...

Steve McRory

Mortgage Loan Originator
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