Anyone build their own loans to sell?
I'm speaking with a local mortgage lender...and it's basically a small business that packages loans..then sells them to a larger entity that buys them.
As someone who's started a couple companies...I thought to myself...well why don't I just get who they are selling to and package my own loans as I do my own deals...cut out the middle man and save a few thousand dollars on broker fees ect.
Anyone else currently do this? Did I simplify this too much? I'm assuming it's just finding the criteria this BUYER has, then filling out the proper information to sell to them. I close myself using Cash from my new 'mortgage company', but immediately resell the loan to one of these companies.