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Loan & Credit Facts
Mortgage Lender: The Broker
Choosing a mortgage lender is a profoundly important decision that should not be taken lightly. The quest for the best interest rates and terms is one that is well worth the effort. Some consumers find that they find the best packages through a broker instead of directly with a lender.
The mortgage broker does not provide lending and underwriting services. However, this valuable establishment services as a liaison between the consumer and the mortgage lender. This connective relationship can have remarkably prolific results that may come as a surprise.
Many suggest that the best and cheapest way to do business is to cut out the middle man. However, this is not always the case when it comes to dealing with mortgages. The role of the mortgage broker is to find the best loans for its customers as well as the best clients for its counterpart lending agencies. The result is often the ideal loan for everyone involved.
Broker Benefits
Mortgage brokers are regulated. These organizations are designed to meet standards and they ensure compliance with finance and banking laws. The specific laws are contingent upon the jurisdiction of the homebuyer. It is important to find out if your state has laws designed to regulate brokers.
The broker serves to attract clients for the mortgage lender. This marketing service is one that is of great value to both the homebuyer and the lending institution. The liaison works to fit the right lender with the right client depending on several factors.
The borrower’s situation is of particular interest. The broker looks at the homebuyer’s credit history as well as his current income and employment status. These factors are merged with an assessment of the various lending institutions and their respective programs.
Once a program that suits the customer is determined the broker seeks pre-approval from the mortgage lender. This process is quite consuming and includes organizing the essential documents and proof of income and completing the application form.
The homebuyer is provided valuable information about the legal disclosures involved in the home loan process. The broker provides this service in order to help the borrower gain a full understanding about the home loan package and his responsibilities as a borrower.
The broker then submits all of the paperwork to the mortgage lender for processing. This step is all important and it requires great attention to detail. The liaison is a powerful resource that works to ensure that your loan application is up to specification and that the entire process runs smoothly for you and the mortgage lender.
Florida Lender Mortgage Specific links
Florida Lender Mortgage News
One in three mortgage holders still underwater - msnbc.com (blog)
 Los Angeles Times | One in three mortgage holders still underwater msnbc.com (blog) Nevada homeowners have been hardest hit, where two-thirds of all homeowners with a mortgage are underwater. Arizona, with 52 percent, Georgia (46.8 percent), Florida (46.3 percent) and Michigan (41.7 percent) also have high percentages of homeowners ... Negative Equity More Widespread Than Previously Thought, Report Says Despite Home Value Gains, Underwater Homeowners Owe $1.2 Trillion More than ... Report: 53.9% of Orlando homes underwater |
Mortgage firm opens Flagler office - Daytona Beach News-Journal
Mortgage firm opens Flagler office Daytona Beach News-Journal Wisconsin-based Waterstone Mortgage is a national company with six offices in Florida. The company offers several types of loan programs such as conforming, nonconforming and government loan programs. It is also a direct Fannie Mae and Freddie Mac ... |
Foreclosures Plunge to Five-Year Low in US: Mortgages - BusinessWeek
 CBS News | Foreclosures Plunge to Five-Year Low in US: Mortgages BusinessWeek By Dan Levy on May 17, 2012 Foreclosure filings in the US fell to a five-year low last month as lenders sought to avoid seizing property and a housing recovery showed signs of taking hold. The number of default, auction and seizure notices sent to ... US foreclosure trends improved April, but state-level data point to more ... |
Winthrop Realty Trust Acquires Matured Mortgage Loan - MarketWatch (press release)
Winthrop Realty Trust Acquires Matured Mortgage Loan MarketWatch (press release) BOSTON, May 23, 2012 (GlobeNewswire via COMTEX) -- Winthrop Realty Trust (NYSE:FUR) announced today that it has acquired a first mortgage loan secured by a 326000 square foot commercial building located in Ft. Lauderdale, Florida containing ... Winthrop Realty Trust Buys First Mortgage Loan on 326000 SF Ft. Lauderdale Asset |
Florida takes a portion of mortgage settlement for budget - Bizjournals.com
 UK Progressive Magazine | Florida takes a portion of mortgage settlement for budget Bizjournals.com Florida is planning to take a portion of the $26 billion mortgage settlement and earmark it for the budget. The Bradenton Herald, citing a story from ProPublica, reports that Attorney General Pam Bondi's office confirmed that 10 percent of the funds ... Florida grabs a $33.4 million chunk of foreclosure settlement money for state ... Billion Dollar Bait & Switch: States Divert Foreclosure Deal Funds |