Hello Friends, Ioften am asked why one should use a mortgage broker over a bank or direct mortgage
First of all, I have over 24 years of experience in consumer lending and over 21 years of experience in mortgage lending. I am a licensed real estate professional and am governed by the California Bureau of Real Estate as well as the Consumer Finance Protection Bureau via my National Mortgage License.
As a licensed mortgage specialist in this state, I have a fiduciary obligation to help clients to the best of my abilities and to get the best rate and deal that I can for them. A bank does not have this responsibility and can choose to lend or not lend for any reason at any time. I am not representing a single bank and am not a banker. Rather, I have relationships with almost all available wholesale mortgage banks and lenders that are lending in California. My obligation is to my clients and not to the banks.
I also work whenever the deal needs work, not just 9-5, Monday through Friday. I specialize in residential home purchase lending, but I also have a large refinance practice and I am versed in commercial property lending, hard money lending, stated income, and other niche lending products. I am an expert in California home purchase lending and real estate transactions. I do very little advertising other than through my network of contacts such as realtors, CPAs, attorneys, previous clients, and friends. There is no application fee with me as I offer free consultation. I only get paid if I close a transaction and part of the process includes showing the borrower how I get paid. I usually sit down in person or on the phone with every homebuyer for an hour or two to give a private Mortgage 101 session to get them up to speed on the process, mortgages, rates, expectations, strategies, and timelines. Mortgage 101 continues throughout the loan process and even after the loan has closed.
In future editions of this newsletter, I will start detailing some real-life mortgage horror stories and the solutions I have been able to secure that have turned those horror stories into mortgage success stories. Those tough transactions are what make my work truly worth doing. This is the home of free mortgage consultation, but also the home of real mortgage advice.