Hello to everyone on this forum. Im a new member and Mortgage Consultant with Mortgages USA in Grand Prairie, TX. I was reading through your forums and saw that alot of you had questions in regards to buyer elegibility and such topics. I want to lend a hand in any information i can possibly provide to help you be more successful in your careers. I hope to get to know you alot better as we discuss topics and look forward to being a part of this forum.

PS: The most lucrative relationship in the real estate industry is between a real estate agent and a mortgage consultant/loan officer. I can help your buyers find a loan no matter what situation they are in. Thanks for all your referrals.

what are you talking about? we have plenty of lenders on this board. if you see an unansewered question, simply answer it.

wow, thanks for the warm welcome. I just wanted to introduce myself and lend a hand if need be. Never said questions were going unanswered.

By the way...im not a lender...im a mortgage consultant/broker. I shop lenders and in short that means direct lenders can't touch my rates. =)

Not having been an agent long and really understanding the benefits of using a mortgage broker vs a direct lender, how can you say the direct lenders can't touch your rates? After all, the direct lenders are the ones who pick up the mortage a month into the purchase and service the loan. Its an honest question, why can't they meet or beat the brokers rates?
By the way, many direct lenders don't have origination fees--thats an area you definitely can't match.

There are many myths and stereotypes about mortgage brokers. I am happy to clear things up.

First, an origination is NOT always required on a loan with a broker. You have to understand a mortgage broker can charge as much needed to cover personal/business costs and still try to make a buck in the end. Its an honest business that many misrepresent. If a broker wants to try to make money they will charge the origination fee. However, a broker will more often than not take a hit on their payout just to make a deal and build a relationship.

Second, the reason a broker will often times offer better rates than a bank/direct lender is because we get "wholesale" pricing. With wholesale pricing we get (up to 75% of the time) better rates than what direct lenders can qualify you for. Not to mention we can shop on your behalf with tons of lenders. So not only are we trying to get the best rate for you, were trying to get the best wholesale rate for you.

Hope that answers your question...and clears up some stereotypes.

Mo you seem to be making friends all over this forum. No love......lol.

its expected...the norm dont like brokers due to bad experiences...its ok...im here to show otherwise.

If people don't like brokers, its likely due to the broker him/herself.

A bank/direct lender can lower their prices too. It just depends on who you deal with and how much lead way they are allowed.

If you really want to win the price war, become a lender for a credit union