What is the difference between a loan underwriter, a loan officer, and a mortgage broker?
Saturday, July 25th, 2009
Posts Tagged ‘Mortgage Broker’
What if your mortgage broker lied about your income and you were not aware?
Saturday, June 27th, 2009
t247267 asked:
It 's me again. I did not know that my mortgage broker lied about my income until he told me after the fact. He admitted it to me. He used to tell me how he really worked hard to get the loan. The original use was completed out of a home of their partners and not lied. I requested copies of my file and applkication him and he threatened me with a lawyer. At one point he offered out of this mess and GMAC blamed for putting me in the wrong loan. (I had incorrect social and tell me that he tried to get someone elses terms of). All what he did was lie. I should not blame. How do I get my file?
Donna
It 's me again. I did not know that my mortgage broker lied about my income until he told me after the fact. He admitted it to me. He used to tell me how he really worked hard to get the loan. The original use was completed out of a home of their partners and not lied. I requested copies of my file and applkication him and he threatened me with a lawyer. At one point he offered out of this mess and GMAC blamed for putting me in the wrong loan. (I had incorrect social and tell me that he tried to get someone elses terms of). All what he did was lie. I should not blame. How do I get my file?
Donna
Is it good to use a Mortgage broker Vs calling banks directly for a mortgage loan ?
Sunday, June 14th, 2009
John P asked:
I am looking for the best interest rate for the home I am buying. 1) Is it always good to go with a mortgage broker? Or just call the banks directly? 2) Do spare a few dollars if I go directly to a bank instead of a broker? ¿Council?
Darren
I am looking for the best interest rate for the home I am buying. 1) Is it always good to go with a mortgage broker? Or just call the banks directly? 2) Do spare a few dollars if I go directly to a bank instead of a broker? ¿Council?
Darren
I give my mortgage broker good leads, how much should I charge him for these leads?
Friday, June 5th, 2009
Ted (Canton,OH) asked:
I am a new investor and mortgage broker to give me lots of leads I'm using daily now and I think that charging for them. How much should I upload? I don 't know what the standard is to give these riders the leads. Thank you.
Darryl
I am a new investor and mortgage broker to give me lots of leads I'm using daily now and I think that charging for them. How much should I upload? I don 't know what the standard is to give these riders the leads. Thank you.
Darryl
I am applying for a FHA home loan. The mortgage broker says the rate is 6.5% but the document states APR 7.5%?
Wednesday, May 20th, 2009
George asked:
The broker says my rate will be around 6.5% but they have to state APR 7.5% because it has to includes Mortgage insurance because of not putting 20% down. Is this correct? I understand I have to pay the PMI but should my APR be around the 7%? The loan is around $400K 3% down.
Ronnie
The broker says my rate will be around 6.5% but they have to state APR 7.5% because it has to includes Mortgage insurance because of not putting 20% down. Is this correct? I understand I have to pay the PMI but should my APR be around the 7%? The loan is around $400K 3% down.
Ronnie
Where can I find the lowest mortgage rates and refinance rates in the USA on the internet?
Saturday, April 18th, 2009
Heidi62 asked:
Do you think the rates have hit bottom?
We like to use a local mortgage broker but the last time they did not over us the lowest rate out there. We knew the lowest rate from bankrate.com so we got it. Bankrate.com no longer lists the lowest rates in the US. Need another source
Arnold
Do you think the rates have hit bottom?
We like to use a local mortgage broker but the last time they did not over us the lowest rate out there. We knew the lowest rate from bankrate.com so we got it. Bankrate.com no longer lists the lowest rates in the US. Need another source
Arnold
Can I change a Mortgage Broker after a rate lock?
Friday, March 13th, 2009
eternal_enthusiast asked:
Hi,
I am buying a new home and am shopping for mortgages.
I recently locked in an mortgage rate with a broker and have been contacted by a few other brokers offering me much better rates ever since.
When I locked in the rate with my first mortgage broker, he didn’t charge me any fee. Can I now pick a new mortgage broker without incurring any problem? Am I obligated to anything? My broker didn’t charge me any anything, didn’t mention any fee and I haven’t signed anything.
Hi,
I am buying a new home and am shopping for mortgages.
I recently locked in an mortgage rate with a broker and have been contacted by a few other brokers offering me much better rates ever since.
When I locked in the rate with my first mortgage broker, he didn’t charge me any fee. Can I now pick a new mortgage broker without incurring any problem? Am I obligated to anything? My broker didn’t charge me any anything, didn’t mention any fee and I haven’t signed anything.
Thanks for your help.
Glenda
Texas Home Mortgage Loan Info
Wednesday, January 21st, 2009
Josh Spaulding asked:
Texas mortgage loans are rising in popularity all over the country. It’s not only Texans who are interested in affordable Texas home mortgage loans. However, it’s important that you understand these important facts when looking to buy a home in Texas.
Texas lenders offer a dynamic range of different loans: Prime rate loans, sub-prime lending, jumbo loans, commercial loans, reverse mortgage loans, just to name a few. Each loan serves its own purpose, depending on your personal credit rating and financial status.
Within each type of different loan are different loan terms, including adjustable or fixed rate loans, prepayment penalties, balloon payments, just to name a few.
The easiest way to make sure you’re getting the right type of loan for you and your family is to work with a mortgage broker. A mortgage broker will do your shopping for you, and compare dozens, if not hundreds, of different lenders.
A good mortgage broker will also be very knowledgeable about all things financial, and be able to advise you on what types of loans to get. Usually working with a mortgage broker won’t cost you a thing either, as they just split closing profits with the actual lenders.
While a good broker will be able to point out all the differences between Texas mortgages and other mortgages, keep in mind that a broker is still there to make a sale. A broker will very seldom advise you not to get a loan, and some brokers will even push you to a less favorable loan or add extras in order to boost his own commission.
One other way of finding the best Texas loan is to get free online quotes. You can often get free quotes online, without submitting your social security number. By doing so, you can compare and contract the terms and conditions of various loans, without having to leave the comfort of your own home.
Alice
Texas mortgage loans are rising in popularity all over the country. It’s not only Texans who are interested in affordable Texas home mortgage loans. However, it’s important that you understand these important facts when looking to buy a home in Texas.
Texas lenders offer a dynamic range of different loans: Prime rate loans, sub-prime lending, jumbo loans, commercial loans, reverse mortgage loans, just to name a few. Each loan serves its own purpose, depending on your personal credit rating and financial status.
Within each type of different loan are different loan terms, including adjustable or fixed rate loans, prepayment penalties, balloon payments, just to name a few.
The easiest way to make sure you’re getting the right type of loan for you and your family is to work with a mortgage broker. A mortgage broker will do your shopping for you, and compare dozens, if not hundreds, of different lenders.
A good mortgage broker will also be very knowledgeable about all things financial, and be able to advise you on what types of loans to get. Usually working with a mortgage broker won’t cost you a thing either, as they just split closing profits with the actual lenders.
While a good broker will be able to point out all the differences between Texas mortgages and other mortgages, keep in mind that a broker is still there to make a sale. A broker will very seldom advise you not to get a loan, and some brokers will even push you to a less favorable loan or add extras in order to boost his own commission.
One other way of finding the best Texas loan is to get free online quotes. You can often get free quotes online, without submitting your social security number. By doing so, you can compare and contract the terms and conditions of various loans, without having to leave the comfort of your own home.
Alice