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Home > Financial Services > Mortgage Brokers > Professional Mortgage Services
Professional Mortgage Services
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 company, credit union, Mortgage Corporation, finance company 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.
Professional Mortgage Services, Inc., a Maryland corporation. was founded in September, 1990 as a service oriented mortgage loan brokerage firm. It consists of a three person operation, each officer, bringing to the Firm 20 plus years of experience in the Mortgage Lending industry. Their major objective is to process high quality mortgage loans secured by single family and to wnhome dwellings, two to four unit apartment buildings, and condominium units located within Maryland, Delaware, and Florida
The company is an Ocean City/Berlin based mortgage banking firm that has earned its fine reputation by consistently providing quality mortgage lending services to its clients. The application process begins when the loan officer interviews the prospective borrowers and completes a formal loan application, which is typically done over the telephone. They have streamlined the process in such a way as to originate and close loans in a short period of time. Loan applications are submitted to the processing staff who collect the minimum amount of necessary documentation verifying income, liquid assets, credit history and the value of the property securing the mortgage. It is at this point in the process that the loan is submitted to a lender for approval. The lender then funds the loan at settlement which completes the transaction.
Professional Mortgage Services assists you through six basic steps in procuring a loan for buying a house or renovation of your home. The six steps are; 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.
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