http://www.biggerpockets.com/renewsblog/2008/12/27/mortgage-brokers-time-origination-market-share/ Learn, Network, Invest Mon, 23 Nov 2009 07:23:11 -0500 http://wordpress.org/?v=2.8.5 hourly 1 http://www.biggerpockets.com/renewsblog/2008/12/27/mortgage-brokers-time-origination-market-share/comment-page-1/#comment-62967 Derek Haymond Tue, 30 Dec 2008 07:10:02 +0000 http://www.biggerpockets.com/renewsblog/?p=3123#comment-62967 This was a very interesting article. I've been a wholesale mortgage senior account executive in southern california for 15 years. I sell wholesale rate mortgage loans to brokers. Their will always be a need for mortgage brokers regardless how dim the market become. Due to the current status of the economy, this has been a reality check for many borrowers in america. Borrowers are now more savvy, inquisitive, and determined to get the best deal. Many borrowers are becoming aware of the specific duties of a mortgage broker. Brokers have lower overhead expenses than most direct lenders (banks) and relationships with hundreds of private lenders with numerous of loan programs for a borrower to fit. This is where the broker come to surface. Direct lenders are limited to program options and have very strict underwriting guidelines for loan approval, due to the fear of a bad decision. Their are hundreds of wholesale private lenders and private investors with low overhead and seeking broker assistance to capitalize on the average to below average credit market. What the broker must do is inform the public, advertise their specific services in comparison to a direct lender. Their are tons of borrowers prepared to listen, learn and proceed but do not know the source to obtain this valuable information. My personal recommendation to all brokers, please subscribe to www.scotsmanguide.com, it's a free subscription. This is a national publication of wholesale commercial and residential lenders nationwide and abroad advertising non-traditional loan programs not available with a direct lender (bank). It's a hardcopy 11x17 colorful magazine that will arrive to you via mail. This publication is targeted to the mortgage broker. You will be amazed as to the quantity of wholesale lenders and private investors available today with millions to loan. Many of these lenders may be unfamiliar, but that's okay, this is what differentiates the broker from the direct lender. Hope this helps! This was a very interesting article. I’ve been a wholesale mortgage senior account executive in southern california for 15 years. I sell wholesale rate mortgage loans to brokers. Their will always be a need for mortgage brokers regardless how dim the market become. Due to the current status of the economy, this has been a reality check for many borrowers in america. Borrowers are now more savvy, inquisitive, and determined to get the best deal. Many borrowers are becoming aware of the specific duties of a mortgage broker. Brokers have lower overhead expenses than most direct lenders (banks) and relationships with hundreds of private lenders with numerous of loan programs for a borrower to fit. This is where the broker come to surface. Direct lenders are limited to program options and have very strict underwriting guidelines for loan approval, due to the fear of a bad decision. Their are hundreds of wholesale private lenders and private investors with low overhead and seeking broker assistance to capitalize on the average to below average credit market. What the broker must do is inform the public, advertise their specific services in comparison to a direct lender. Their are tons of borrowers prepared to listen, learn and proceed but do not know the source to obtain this valuable information. My personal recommendation to all brokers, please subscribe to http://www.scotsmanguide.com, it’s a free subscription. This is a national publication of wholesale commercial and residential lenders nationwide and abroad advertising non-traditional loan programs not available with a direct lender (bank). It’s a hardcopy 11×17 colorful magazine that will arrive to you via mail. This publication is targeted to the mortgage broker. You will be amazed as to the quantity of wholesale lenders and private investors available today with millions to loan. Many of these lenders may be unfamiliar, but that’s okay, this is what differentiates the broker from the direct lender. Hope this helps!

]]> http://www.biggerpockets.com/renewsblog/2008/12/27/mortgage-brokers-time-origination-market-share/comment-page-1/#comment-62899 Mario Pagano Sun, 28 Dec 2008 01:36:45 +0000 http://www.biggerpockets.com/renewsblog/?p=3123#comment-62899 Ciao and greetings from Italy, I am Mario a Realtor from Rome, grazie for posting such interesting information, for me is appropriate as now the Real Estate and Mortgages is the same similar situation in Europe and indeed very relevent to the Real Estate at this moment Market here in Italy Ciao and greetings from Italy, I am Mario a Realtor from Rome, grazie for posting such interesting information, for me is appropriate as now the Real Estate and Mortgages is the same similar situation in Europe and indeed very relevent to the Real Estate at this moment Market here in Italy

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