MortgageBase was designed to provide our sophisticated Jumbo Mortgage clients with an online source for their mortgage needs.
Over the past few years, mortgage brokers and correspondent lenders have become increasingly important in obtaining mortgages for home buyers and home owners. This is due to the fact that "mortgage brokers" have access to many lending outlets around the country, and can find "a better deal" for customers than what is available through one source local banks or even the major banker that a Jumbo or Super Jumbo Loan client uses daily and would normally contact.
Unfortunately, to obtain the best rates or loan for their clients, brokers rely on sifting through hundreds of wholesale lending ratesheets and guidelines that are emailed to them on a daily basis. Each of these wholesale lenders have numerous adjustments to calculate their rates or points involved depending on the loan amount, property type, loan amount versus property value and several other variables that you enter into our rate quote form - this can take several hours. Not only that, but each and every wholesale lender charges different fees to obtain a mortgage from all of these lenders. Single source banking institutions are further limited by only having their internal programs and pricing.
Because of all the variables to consider it becomes nearly impossible for most mortgage brokers to accurately find the best interest rate, point, and fee combination for their customers, so they usually settle with just a few favorite wholesale lenders and choose the best rates from among those few. Because of this these brokers will rarely provide the best possible rate for their customers.
Your MortgageBase representative analyzes each loan based on the information that you input into the rate quote request page. Then, using proprietary pricing software your representative can quickly find the best rate/point/fee combination for various programs and interest rates from numerous lending sources.
Once you have decided that you would like to work with your Loan Officer you need to determine whether it is advantageous to lock or float your loan. Stay in touch with your Loan Officer and decide whether to lock or float based on your needs and your risk aversion and your Loan Officer's recommendation.
Maintaining the service that you deserve . . .
Our goal is to provide mortgage customers such as yourself with better service and a better mortgage program and rate than could find by visiting any other lender. If there is any reason that we cannot help you and there is an alternative that we know of that will serve your needs we will do our best to refer you to another source. We are proud of our service and reputation and hope to be of service to you.