Today is an exciting day for independent mortgage brokers! Our #1 lending partner United Wholesale Mortgage (UWM) completed their IPO to go public on the New York Stock Exchange under ticker UWMC. UWM has been the #1 wholesale lender in the nation for 7 years running. They are the #2 overall lender but have major… Read more »
The Coronavirus has wreaked havoc on the financial markets so far in March 2020. Investors have been fleeing from stocks and investing in lower risk assets such as Bonds, Treasury Notes and Mortgage Backed Securities. This has helped us hit the lowest mortgage rates in history. The news is quick to report on the low… Read more »
Mortgage Broker Growth What is a Mortgage Broker? Mortgage Broker Benefits Loan Support Transparency on Rates and Fees Loan Options How to become a Mortgage Broker With the recent shift in the mortgage industry, many loan originators are wondering how to become a mortgage broker. The rise of a major trade organization, the Association… Read more »
You may have heard that the Federal Reserve has been cutting rates to slow economic slowdown. Industry experts predict that they may cut the Fed rates again this week. It would be a surprise to the economy if they did not follow through with another cut. With this said, it is important to know that… Read more »
Mortgage Broker Myth #1 One of the biggest myths of using a Mortgage Broker is that they do not have control of the underwriting process. Many retail lenders and banks claim this because they have employees that underwrite the file whereas a mortgage broker works directly with the end investor to underwrite the file. Retailers… Read more »
Bankers and Lenders and Brokers, Oh My! Mortgage Bankers When many prospective homebuyers think about getting pre-approved for a mortgage, they picture their local bank. They stop by the nearest branch, are greeted by a friendly teller, and ask to speak to a loan officer. There’s nothing inherently wrong with this concept, but it certainly… Read more »
Many people have the misconception that to qualify for the Home Affordable Refinance Program they must contact their current servicer to refinance when they are underwater. This is not the case. While your current servicer or bank may be able to offer one option to drop your payment, many times they do not offer the… Read more »
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