Mississauga Mortgage Broker [mortgageinsurance-101.blogspot.com]
Question by drewstep3: How do I become a independent mortgage broker? I am looking to become a Independent mortgage broker and I just need advice on how to start it. I already know the state requirements and about the licensing, I am located in North Carolina. I just want to know about starting up like how to build a relationship with a banker and submit to them independently. I just want to know everything I need to start. Anyone that wants to continue giving me advice will be greatly appreciated thanks! Best answer for How do I become a independent mortgage broker?:
Answer by liveinmd
You should start networking with account executives from local large banks. Also, look into joing th MBA (Mortgage Bankers Association) which is the national professional association. There are also state chapters. Both of these would be good ways to start networking.
Answer by Stephen Buckley
I would also network with local mortgage brokers in your area. They work with local and national underwriters. You might want to narrow your search down to Commercial or Residential segment specializations and even further if you choose the Commercial side.
Message from NAMB Government Affairs Chair, Mike Anderson about membership in the NAMB.
mortgageinsurance-101.blogspot.com Important Message for Mortgage Brokers and Independent Mortgage Bankers
Mortgage broker accused of bank fraud. Federal authorities have accused a mortgage broker of money laundering and bank fraud in connection with the alleged sham refinancing of an office building in downtown Vancouver, Wash. The Associated Press ... Mortgage broker accused of bank fraud
Home buyers, who are looking to buy a house in Mississauga or surrounding area have a number of financial options available to them. In fact, the options are almost overwhelming! Should they go to one bank or another? Should they go to one credit union or another? One option serious home buyers should consider is to go through a Mississauga mortgage broker for their financing needs.
Working with a Mississauga mortgage broker is actually a superior option than going through a bank for a mortgage. The reason is simple: A bank may only have a couple of mortgage products to offer prospective homeowners. They can't offer anything other than what the bank says they can offer and the mortgage officer's ability to negotiate is somewhat limited. The bank thinks they have the advantage because the homeowner is looking to them for a mortgage.
On the other hand, a Mississauga mortgage broker isn't confined to working with a single bank.
Here are a couple of typical examples of the benefits buyers experience from working with a Mississauga mortgage broker. (Names have been changed)
• Cheaper mortgages: The Carters were going to get a mortgage through their bank. Their bank had standard mortgage rates, which were fairly reasonable. But then the Carters talked to a Mississauga mortgage broker who talked to several different banks on the Carters' behalf and found an even cheaper mortgage for them. The Carters will save thousands of dollars over the life of their mortgage.
• More choice: The Mathesons talked to a bank about rates and terms but found their choices limited. There were a couple of mortgage options offered by the bank that were close to what they wanted but nothing exact. They talked to a Mississauga mortgage broker who sought out a mortgage that was exactly suited to what they were looking for.
• No credit / Poor credit: The Desaltos had recently moved to Canada and started a business. Although their business was successful, they had not been able to develop a substantial credit rating and they were turned down outright from two banks. Discouraged, they went to a Mississauga mortgage broker who was able to help by finding them a bank that willingly worked with new immigrants and entrepreneurs with little or no credit.
If they want more options and better options, prospective homeowners should put "visit a Mississauga mortgage broker" high on their list of to-dos when it comes time to look for a house or condo.
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