One size does not fit all

Mortgage and Lending with Christensen Financial Mortgage 385907

When I first started in the mortgage business, somewhere before electricity I believe, I went to work for a mortgage company, and it was thought that we had a diverse product line because, well we had more than one product.

Consumers just didn't have many choices back then.

The clients pretty much needed to conform to the product.

Today it is evident that buyers are all different, with many different and unique needs.

While there may be many similarities, buyers in Cape Coral and Fort Myers may have different needs from those in Melbourne, and Palm Bay.

Today, once again I work for a mortgage company, and in essence here's why we are different, and better equiped to serve or clients needs, I believe.

As a mortgage company we originate, process, underwrite, and fund our own loans with the intention of selling these loans to investors, either at the closing table, or sometime after the closing.

Here's a key;

We have both a diversity of products, I'll match our product line with anyone in the industry, but also, in most cases, multiple investors offering these products.

Why is that important? you may ask.

It's important because in today's markets investors impose what are referred to as overlays on the established guidelines. Overlays are guidelines that impose rules above and beyond what might be required for a particular program, such as VA, FHA, etc.

Having multiple investors means that we can place the client into the program (investor) which most suits their needs, whether that is because they need to be able to meet a particular guideline. or need a specialized product.

In comparison, if you're dealing with your local, or national banking institution you need to meet their guidelines, and if you don't, oh well, game over, because they have no alternatives.

And as you have probably reached the same conclusion that I have this is problematic because

One size does not fit all   

Comments (4)

Winston Heverly
Winston Realty, Inc. - Atlantis, FL

Products are great, but getting past a credit score is brutal, especially in these challenging times.

Oct 15, 2012 10:48 PM
Jay Beckingham
Christensen Financial Mortgage - Port St Lucie, FL
Seniors ROCK!


good point, that's while you need multiple investors when it comes to credit scores. most investors would like a 640 score for FHA, but we do have at least one who will accept 620.

thanks for the help proving the point.


Oct 15, 2012 10:55 PM
Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES
Tropic Shores Realty - Ich spreche Deutsch! - Spring Hill, FL
Florida Waterfront and Country Club Living
Jay, thank you for this explanation, consumers who are trying to do their own research are faced with many options and would be served well to consult with a mortgage professional like yourself early on.
Nov 24, 2012 09:14 PM
Jay Beckingham
Christensen Financial Mortgage - Port St Lucie, FL
Seniors ROCK!


you're welcome.

as an example we just rolled out 10% downpayments for second homes, with great rates.



Nov 26, 2012 02:37 AM