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Tim Lenzmeir MLO
Tim, it was a pleasure speaking with you this afternoon. Looking forward to working with you directly and/or indirectly. First and foremost I like to congratulate you on passing the NMLS exam your first time around. Every Mortgage Loan Originator has their own way and platform on handling their marketing, qualification and pre-approval process and how they proceed with the mortgage and underwriting process from opening, disclosures, processing, underwriting, conditional approval, clearing conditions, resubmitting conditions to underwriting for a clear to close. Once conditions have been cleared a CTC is issued by the underwriter. A clear to close means the lender is ready to fund the loan. Please take a brief look at one of our preferred wholesale lender Equity Prime Mortgage (EPM Mortgage)
epmwholesale.com
Empowering your clients with choice is why brokers are better! With our broad spectrum of mortgage products, we empower brokers with the ability to help more people and serve their community’s housing needs.
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6 Replies
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Tim, attached is an informed guide about the difference between mortgage brokers vs mortgage lenders.
https://gustancho.com/mortgage-brokers-versus-lenders/
gustancho.com
Difference Between Mortgage Brokers Versus Lenders
Consumers have lower rates and mortgage loan options with mortgage brokers versus lenders due to a lower yield spread premium cap at 2.75%.
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Tim
The attached guide about types of mortgages should help you understand that there are multiple options for each individual mortgage loan borrower
https://gustancho.com/types-of-mortgages/
gustancho.com
Types of Mortgages | Traditional and Non-Prime Loan Options
Types of mortgages besides FHA, VA USDA, and Conventional loans include no-doc non-Prime loans for specialty borrowers for niche properties
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Here’s another page you may find informative
gustancho.com
GCA Mortgage | Mortgage Experts With No Overlays
Whether you have gone through bankruptcy, divorce or you are a first-time homebuyer, Gustan Cho Associates are experts in difficult loans
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Very basic but extremely important topic
https://gustancho.com/mortgage-loan-programs-with-no-overlays/
gustancho.com
Mortgage Loan Programs With No Overlays and 30 Day Closings
If you have open collections, high DTI, recent late payments you need to go with a lender that has mortgage loan programs with no overlays
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Here’s THE INDIVIUAL NMLS
https://www.nmlsconsumeraccess.org/EntityDetails.aspx/Individual/873293
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Here’s the Branch NMLS of Gustan Cho Associates
https://www.nmlsconsumeraccess.org/EntityDetails.aspx/Branch/2315275
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