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Priscilla Said:

Does any mortgage broker know of a wholesale lender loaning over 100% CLTV?

We Answered:

Go to Scotsman Guide - they have postings by lenders of available programs. You can also post your scenario and have lenders respond if they can work with your loan.

Good Luck!

Louis Said:

I am looking for a list of wholesale mortgage lender web sites?

We Answered:

If you're a mortgage loan officer looking for lenders your best bet is the Scotsman Guide. They a great search engine on their site, www.scotsmanguide.com

Amy Said:

Is there wa way to sell your house mortgage to a wholesale correspondent lender?

We Answered:

lenders dont buy homes....private investors do.

Ron Said:

I currently work for a direct lender, wholesale, how can i get business from mortgage brokers?

We Answered:

For me, it's 99% about rates. If you don't have the best price, you don't get the loan.

The other 1% is finding a rep who actually knows more about their products than I do, and can help show me how to use their products to close more loans.

You'll always hear brokers claim "I've got 50 banks to shop from, blah blah blah.". Problem is, they did sign up with 50, and 40 of them got the first loan they closed at a loss just to get the relationship going, and never heard from the broker again. And these brokers have no clue how to take advantage of a lot of the products they have access to.

I'm always looking for the best balance between getting my client the best program for them, then finding the best price, while also ensuring I'm getting paid appropriately as well. I want price most of all. I also want my AE to help me when I need it, and to get their company to make cuts to help me when they mess up, which they all will eventually.

My ultimate job is to close on price, on time, every time. You can't control all of that, but you can sure help with some of it.

Jacqueline Said:

Do wholesale mortgage lender AE's use scottsmanguide.com?

We Answered:

Dear Yoli,

That's a good question. Scottsmanguide is a great match up tool to see what lenders provide what programs. I'm sure that any good broker will use many resources to keep up with lender trends and programs.

My experience tells me that usually when wholesale mortgage lenders find a few investors to work with, they will stick with them if they prove reliable. Good service is hard to find.

Hope this helps.
Daisy