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Home > Financial Services > Mortgage Brokers > Long Beach Mortgage Company
Long Beach Mortgage Company
A mortgage broker is an individual or firm that acts as an independent agent for both the borrower and the lender of a mortgage loan. Mortgage brokers are the middleman between you and the lending institution, which can be a bank, trust firm, credit union, Mortgage Corporation, finance firm or even an individual private investor. A mortgage broker will analyze your financial situation to determine which lender is the best fit for your loan needs. He or she will submit your mortgage application to one or more lenders in order to sell it, and works with the chosen lender until the loan closes. He or she receives a commission from the borrower if the loan closes.
The Company assists you through six basic steps in procuring a loan for buying a house or renovation of your home such as getting your documents organized, convincing the loan company that you qualify for the loan, explains the best loan plans from various companies available within your budget, applies for the loan, obtains approval for the loan, and assists in closing the loan.
The Company has been building strong relationships in the Specialty Lending industry since 1987. Joining the Washington Mutual family in 1999, they created a Specialty Lending powerhouse. Together, in 2001, they funded 176 billion dollars in residential loans. This combined strength positions them as the leading lender across all of the markets they serve.
Their fees are among the lowest in the industry and are complemented by their lender and broker compensation cap of 5 percent. They have set the standard in the specialty lending industry by instituting corporate guidelines and policies to uphold their commitment to responsible lending. Their powerful product lineup, customized underwriting and unsurpassed service give you the edge you are looking for to build your business.
The Company never puts you in loans that don't make sense. If refinancing a loan will cost you more than it will save you, or if it does not make financial sense, they won't do it. They are committed to putting you in the loan that fits your individual needs. Through the process they take you through they take your application, pull your credit bureau report at the same time, getting you pre-approved for your loan. Since they know your time is valuable, they will streamline the process.
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