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Mortgage Broker
Loan & Credit FactsA mortgage broker is a very valuable asset to many lending institutions and consumers. This individual is dedicated to helping potential homebuyers connect with their ideal lender. The task is not simple but the seasoned professional is well prepared to take care of your needs.
There are many real estate property lenders. These establishments come in a number of different forms and each one is unique in its approach. A consumer can easily become very confused when it comes to choosing the right source of funding for their new home.
The mortgage broker can work with the potential homebuyer to establish which lenders make the best match. This professional typically works with lending institutions that have wholesale loan departments. This helps to keep the costs of the loan reasonable.
Wholesale Loan Divisions
Large, well-established banks that deal with mortgages typically have a wholesale loan division. The wholesaler will have retail chains of its own that consumers can visit directly. These lending companies also use a mortgage broker to help make connections.
A good broker will have relationships with a number of different lenders. This professional works closely with the potential homebuyer and the loan companies to make a perfect match. Everyone wins in this approach in most cases.
The wholesale lender actually completes the loan transaction. The mortgage broker serves as a very valuable liaison between the consumer and the lending institution. The loan division completes the loan and the borrower makes the agreement with the lender. The broker is a valuable middle man.
Mortgage Broker Benefits
Having choices is typically a good thing. However, having too many choices can be very confusing. Consumers may lose a great mortgage loan simply because they never explored the right lending institutions. The broker serves to make a great connection that works for everyone involved.
Since the liaison works with a wholesale lending division, the cost of the loan remain the same as they would if the consumer went directly to the lender’s storefronts. The creditor is able to keep the costs down when working with a broker just as it can when the consumer enters one of its stores.
The mortgage broker is also well versed in the required paperwork and various requirements. This individual helps the consumer organize his information and acquire the best home loan possible.
Mortgage Loan Refinance Home Loan Specific links
Mortgage Loan Refinance Home Loan News
Realtors(R) Offer Support for Bill to Help Responsible Homeowners Refinance - MarketWatch (press release)
 The Mortgage Reports | Realtors(R) Offer Support for Bill to Help Responsible Homeowners Refinance MarketWatch (press release) "Eliminating the refinancing barriers homeowners face with Fannie Mae and Freddie Mac loans will help bring them relief by lowering monthly payments and reducing the risk of default." NAR supports the "Responsible Homeowner Refinancing Act" because it ... Freddie Mac: 30-year mortgage rate down a tick at 3.78% US 30-Year Mortgage Rate Falls to Record 3.78 Pct. 30-year mortgage rate hits another record low |
Mortgage Q&A: Borrowers hit by mess others made - Washington Times
 Washington Times | Mortgage Q&A: Borrowers hit by mess others made Washington Times The Home Affordable Refinance Program (HARP), initiated a couple of years ago, was designed to help folks with good credit and an evident ability to repay their loans. They were unable to refinance to a lower rate, however, because their property ... |
Mortgage applications up on refi demand: MBA - Reuters
 New Zealand Herald | Mortgage applications up on refi demand: MBA Reuters The MBA's seasonally adjusted index of refinancing applications gained 5.6 percent, but the gauge of loan requests for home purchases fell for the second week in a row and was down 3.0 percent. Mortgage rates fell as further uncertainty around the ... Record-low mortgage rates spur refinancing Refinancing Up as Rates Keep Falling Mortgage Rates: Low Mortgage Rates Spark Increase in New Home Sales |
Bankrate: Mortgage Rates Hold at Record Lows - MarketWatch (press release)
 World News Resource | Bankrate: Mortgage Rates Hold at Record Lows MarketWatch (press release) With the average rate now 3.97 percent, the monthly payment for the same size loan would be $951.37, a difference of $290 per month for anyone refinancing now. SURVEY RESULTS 30-year fixed: 3.97% -- unchanged from last week (avg. points:0.41)15-year ... Mortgage Rates Today: Wells Fargo, PNC Bank and KeyBank Refinance Rates for ... Today's Mortgage Rates for 5/24/12 Mortgage Rates Today: Slight Upticks at Bank of America |
Despite Home Value Gains, Underwater Homeowners Owe $1.2 Trillion More than ... - MarketWatch (press release)
 Los Angeles Times | Despite Home Value Gains, Underwater Homeowners Owe $1.2 Trillion More than ... MarketWatch (press release) That is nearly one-third (31.4 percent) of US homeowners with mortgages, compared to 31.1 percent in the fourth quarter of 2011. - Foreclosure is not imminent for most underwater homeowners. Nine out of 10 continue to make their mortgage and home loan ... Underwater Nation: 16 Million Borrowers Owe More on House Than It's Worth |