Wright Mortgage Compnay
June 7th, 2008 Categories: Residential and Commercial Mortgages
John Duffner’s Mortgage Brokerage, Inc. has associated itself with The Wright Mortgage Company.
Both companies are brokerages and jointly their focus is residential and commercial loans.
Why Use A Broker?
Independent mortgage brokers have had a significant impact on the lending industry. Today, the use of a professional (licensed) mortgage broker is one of the key strategies used by sophisticated borrowers.
What Is A Mortgage Broker?
A mortgage broker is an independent real-estate financing professional who specializes in the origination or residential (or commercial) loans. Mortgage brokers normally pass the actual funding and servicing of loans on to wholesale lending sources. A mortgage broker is also an independent contractor working with (on average) as many as 40 lenders at any one time. By combining professional expertise with direct access to hundreds of loan products, a mortgage broker provides the most efficient way to obtain financing tailored to a borrowers specific financial goals.
What Do Mortgage Brokers Do?
In the volatile mortgage market, mortgage brokers can serve as safeguards, offering clients security, safety, and peace of mind. One of the broker’s most important functions is escorting a borrowers loan application through the entire process, constantly patrolling the component transactions for possible breakdowns. A professional mortgage broker can wade through the mountains of rate data and program options, researching current market conditions to find the most accurate and up-to-date information about cost-effective loan options.
Brokers Handle the Details!
There are literally thousands of variables that can affect the outcome of a mortgage transaction. That’s why you need a mortgage broker to act as a liaison between the title and escrow company, real estate agent, lender, appraiser, credit agency, the underwriting, the processors, attorneys (when utilized), and any other services which may affect the transaction.
Other Items A Mortgage Broker Does:
- Discuss and explain financing program options
- Informs the borrower, in writing, of lock-in options
- Explains all documents of the loan application
- Explains all associated costs of the loan application
- Explains the disbursement of all loan applications
- Explains the loan process, from application to closing
- Provides the borrower with a good faith estimate of cost and fees
- Communicates with the borrower throughout the loan process in a timely manner
- Coordinates the final closing of borrowers transaction
For mortgage information call 805-933-1385.
No Comments yet »
RSS feed for comments on this post. TrackBack URI
