someone please help? any mortgage brokers here?
471255
Sometimes when a lender says one thing, it sounds scary to someone in your position.\n\nWhen he said he has to send the info to the lender for final approval, he maybe should have phrased it better.  It is the brokers job to look over the info and know if it fits the guidelines.  Then the file is sent to an underwriter to verify the facts and the file that the broker submits.  They put their final stamp of approval on it and all is good.\n\nBuying a house can be scary and stressful, but it is best to just take a deep breathe and let the lender work his magic.  The more you worry, the worse you feel, so don't worry, be happy.  Look at the end result of living in your new home.
455268
I assume you are seeking to become a mortgage loan broker?\nIf so, just look under the yellow section in your phone book and call any real estate school.  They generally offer courses also on appraisers, home inspectors, Realtors and mortgage brokers.  Check out their pricing as they all differ and the State you live in will have an examination you will also have to pass.  First you should consider the amount of loan brokers already in your area - there is some steep competition out there for all these fields.
1127464
I may be able to assist you, I am a mortgage broker who works with over 100 lenders nationwide and offer several programs that will fit almost any situation.I specialize in Re-Fi's, Purchases,  Home Equity Lines and Home Owners Insurance. Please feel free to contact me Jcorreahq@yahoo.com I will go through everything with you and answer any questions you may have about the process. This is at no obligation to you and if nothing else will educate you on how everything works and what you qualify for exactly! I look forward to hearing from you! ~Joseph Correa Licensed Mortgage Broker
101150
You should go to a mortgage broker. They help you find the best mortgage lender for your situation. \n\nThey don't cost any extra as they just get a cut of the money the mortgage lender makes. At least that is the idea, you still have to be a wise shopper.
1101414
It may not be too late...you need to contact the mortgage company immediately and find out if they will work out a deal with you.  If not, you can always try to buy it back.  I would suggest consulting with an attorney on this matter.
1180913
Just stay home for a day and answer all incoming phone calls, you'll get a few.\n\nOn a serious note, these guys are selling something\nhttp://www.mortgage-leads.info/
275990
OK listen up...Just bought a house. We needed 100% financing because we just didn't have a downpayment but needed to move...We don't have horrible credit..but it could be alot better...We spoke to several different mortgage brokers who all said "Sure no problem"  Well let me tell you this...they will promise the world but what it comes down to is that you will end up paying something one way or another.  There are alot of things that can happen.  We ended up paying $18,000.00 for closing costs, attorney's fee's (or title company fees) you have to get title insurance, homeowners insurance, deposits,etc etc.  There are a million and one things that "pop up".  So even if they tell you it can be done....don't believe them!
503820
Mortgage brokers get paid by lenders for getting you to accept higher rates.  Direct lenders deal directly with you and pass the savings on.  I recommend you try http://www.nationwideadvantage.com for your mortgage.  It is free and you can have a decision in minutes.
621680
I agree with the above answer.  You were right to move on.  My guess is that he realized he misquoted and couldn't get the rate he told you on the 30 year fixed.  Now he's avoiding you instead of taking responsibility for his mistake.  Just a guess.  \n\nThe 2/28 has its advantages and may be the better program for you, it depends on your situation.  I answered a question previously that explained the benefit of an ARM.  Take a look at my profile and check my old answered questions.\n\nI would suggest you find a mortgage broker you feel you could put your trust in.  Make sure you meet them face-to-face so you can get a feel for them.  There are tons of brokers willing to help you in the yellow pages.  When you find one you trust, ask them to quote you on both the fixed-rate 30 year and the 2/28 ARM.  \n\nAlso, check out my blog:  http://explaintome.blogspot.com\nIt will explain what mortgage brokers do and how the whole process works.\n\nGood luck!
812525
Why do you find it important to know about the lender that does your home loan?  \n\nAll mortgage lenders are governed by mostly state and federal laws.  \n\nAre you looking for  a rating on the lender or mortgage broker?\n\nWell which ever you are looking for and no matter who eventually does a loan for you. I am willing to bet that before the loan ink dries that the loan will be sold to someone else and before the month is through you will get a piece of mail saying ABC&D purchased your loan. Please make your monthly payments to the company listed on your payment booklet inclosed.\n\nI am also clear that the person sending you that booket and mail are not your lender either. I am willing to bet that that person simply will be servicing your loan for the investor that puechased your loan.\n\nEven if you get a letter with a payment book from the person that you went through to get you loan, they are now merely acting as the servicing agent for the investor that purchased your loan, 24 hours after it was funded and your escrow closed.\n\nI was am a mortgage broker that assisted in securing a loan for a lady that was fed up with her lender and the tactics they were using in trying to get her to refinance her home. I took her application, she was very adamant about not having her loan under this lender. \n\nI told her that I could not guarantee that this would not happen but if she wanted to refinance for that reason and that reason alone, she had to sign off on a disclosure that I made especially for her, that was I could not controll nor did I know who her loan would be sold to on an open market.\n\nWell we did the refinance, closed the loan, guess who purchased the loan once all the dust had cleared. About  10 months later the same person that had been her servicing agent was now here servicing agent once again, because the loan had been sold to the person she previously had.\n\nInvestors do not purchase loans by name, state or city, they purchase by interest yield. So they might request any and all loans to 1000 with a rate of 6.5% with more than 25 years left for payments to be made.\n\nSo checking out a mortgage lender or bank will, only serve the purpose that they are in a data bank. \n\nI hope this has been of some use to you, good luck.\n\n"FIGHT ON"
125788
Are you a mortgage broker?  I would check out RegionalMortgages.com  Its an informational site about mortgages and loans.  They also have a national directory of local lenders.  You should get registered in the directory.
748092
Check with your current mortgage company, or with the new mortgage company.  See if they offer the bridge loans.  You could also ask your realtor, if there is one involved in your transaction.  To find a lender, if you haven't already, try a yellow book listing, and call and interview a couple companies to find out the terms that are available for you.  Good luck!
418462
several things could be happening here\n\nyour lender could be including private mortage insurance if you don't have 20% down and the lender requires it\n\nalso, the lender may be including fees and closing costs into the loan, which could run into thousands of dollars\n\nbe very wary of any loan where all costs are not disclosed to you in a truth-in lending statement, and if a lender or broker makes promises to you or tells you to disregard any truth-in -lending statement you do get
57948
It is true that a normal origination fee is about 1%.  For that price they need to be doing all of the work, however people a lazy, so...? Anyway, I have digressed.  You should know that a mortgage broker is not just getting that 1% from you.  Your broker is also getting discount points on the back end of the deal.  The bank that he is getting your loan from is paying him extra money for any higher interest rate he can charge you.  So it is in his best interest to charge you the highest possible rate he can get you to pay.\nSolution- Find a dicount or wholesale lender.  These lenders are people who make their money selling the mortgages directly to the secondary market. Eliminating the middle man they will usually give you the  best rate.
33824
Should have posted this in the Finance area. LOL\n- I found this. Check this out: http://www.reversemortgage.org/
319764
How on earth can you accurately calculate a mortgage note for someone? Can you pull there credit? If you know there score what rate can you give them? Who do you know that can give that rate? What term will you go? Whats the best rate for there term? You sound like a Realtor giving a payment? I don't mean to fuss at you,but if you contact a mortgage broker he can at least give you a better idea of what a true payment will be.
1128083
You are now into an industry where you need to work, work, work and work. Really, Mortgage business are getting more harder day by day as the Interest rate are rising like anything.\nBasically mortgage business is a referal business but most of the Loan officers do not get refrences in the beginings. So they left demotivates.\nAccording to a survey 80% of the loans are closed by 20% of the Loan officers and the rest 20% of the Loans are closed by the other lest 80% loan officers.\nSo to get a good start there are thousands of ways all you need to be is hard working and of course smart worker.\nI can get you couple of ways where you can start closing loans in just a small span of time.\n1) Start mailing your flyers, this is one of the way you can use in the begining. Target around 3000 homes in your area and hire few kids to distribute some flyers there and let everyone know that you are a new LO in this area. Also you can mail these flyers and do remember to leave your Name and phone number here. This way can really help you but it takes alot of time, because you get a call back from just 1-2 out of 100 that you just to say HI and if they need something they will contact you.\n2) The Second and the best way you can use for the beginers. Buying leads- You can buy leads from good telemarketing companies who generate leads for different Loan officers. The biggest problem with this is they sell the same leads to several loan officers and when you call the customer they already got numerous calls from other companies. But there are some reliable companies who can provedi you quality leads and ofcouse these will be give to you and only you.\nSo find out some one who can get you virgin leads and you can start closing loans soon.\nGood Luck