New Lending institutions will be emerging, even in a down market. Why? Because they claim to have, or to offer, something that their competition lacks to provide-or so they say...
That could be any of the following:
•· More lenders to choose from
•· More programs than others
•· More opportunities for borrowers in need
•· More information
The facts are that if the buyer can't qualify it doesn't matter how many lenders are in your arsenal, how many programs that you have, or opportunities there are to borrow, etc. The reality is there are such things as "lending guidelines" that all lenders have to conform to. Guidelines that make it an advantage or disadvantage to borrow against any home they may be inquiring about. An example would be, if a borrower, in a Conforming Loan Limit Scenario, has trouble verifying income and the credit score is less than perfect, well again the number of lenders will not bail you out. What one bank has so does another. I would just hope the person working the file would have the ability to contact that client and deliver the news. It all comes down to having the right amount of lenders and best service available. No question! Without going into details on the economic theory of Marginal Utility you have to have the right amount of balance in your business. Be that as it may check us out, email me, ask me questions, I'll shoot you straight based on the facts... No Question...