Small Business Resources, Business Advice and Forms from AllBusiness.com
D&B Credit Reports   Businesses for Sale   What's Your Credit Emergency?   Thriving in Tough Times   Trade Magazines   Reduce Health Care Costs   Finance Resource Center
 

Featured Videos

Finding good brokers

By O'Connor, Robert
Publication: Mortgage Banking
Date: Friday, November 1 2002
HEADNOTE

COVER REPORT: BROKER / WHOLESALE

HEADNOTE

The current refi boom has brought waves of new brokers into the business. Lenders are carefully

monitoring the loans from new brokers to find business partners worth keeping.

STRONG RELATIONSHIPS BETWEEN MORTGAGE brokers and wholesalers are critical to wholesale lending. There is nothing new or trendy about that. Wholesalers depend on brokers to bring in good business and to act ethically in their dealings with the mortgage-buying public. Wholesalers have long recognized the need to ensure that their brokers are adhering to the highest standards.

Such considerations have become even more important in the current record-breaking refinance market, where there has been a surge in the number of mortgage brokers.

Mark Hammond, chief executive officer of Flagstar Bank, Troy, Michigan, says that the growth in mortgage volume has attracted people to the industry. There are more brokers, more loan officers and more originators, Hammond says. This year is on course to exceed the $2 trillion-plus market of 2001, he says.

In addition, make sure to read these articles:

  • CORRECTING and REPLACING Principal...
    • Business Editors CORRECTION...by Prinicpal Residential DES MOINES, Iowa--(BUSINESS WIRE)--Nov. 13, 2003 In BW5341 issued Nov. 13, 2003: Eighth graph, first sentence of release should read: ......
  • Finding good brokers. (Cover Report:...
    • The current refi boom has brought waves of new brokers into the business. Lenders are carefully monitoring the loans from new brokers to find business ......
  • A heaping serving
    • ROOKIE BROKERS ARE GETTING A TASTE OF A BIG REFI BOOM. WHOLESALERS ARE reporting that new brokers in droves are interested in signing up to ......
  • MortgageTree Lending Launches New Premier...
    • MODESTO, Calif. -- MortgageTree Lending, a rapidly growing national mortgage banking company, has introduced its Premier Broker program to give independent mortgage brokerage companies significant ......
  • Commercial brokers: the true professionals of...
    • Many of us who manage commercial property also act as leasing agents in other buildings. I don't do much outside leasing, but occasionally will find ......
  • Selling out.
    • I read several articles in your March 2003 publication about writing options, such as "Soybeans ripe for option writers," "Covering up with options" and "Option ......
  • Seeking a common understanding.
    • In the real world of mortgage lending, mortgage brokers frequently find themselves in a tough spot. Dependent on referrals for business, their customers are king....
  • Is it time for broker competition?
    • You have worked hard in the shadow of skyrocketing premiums to prepare for your upcoming insurance renewals. You benchmarked your firm against every available source; ......
  • Starting with the end in mind. (Broker Business).
    • SUCCESSFUL MORTGAGE BROKERS HAVE A wholesale lender in mind when taking an application--especially if the borrower doesn't qualify for a prime loan. "I tell my ......
  • 14.85% of Interactive Brokers Group Option...
    • GREENWICH, Conn. -- The Interactive Brokers Group (IBKR) is pleased to announce that during the first half of 2007 it received price improvement on ......
  • Money option: Steve Crawshaw, LCV manager at...
    • Historically, vans have been a key element of the fleet broker market. Many intermediaries specialise in light commercial vehicles and offer customers a level of ......
  • A DISTRIBUTED REPUTATION BROKER FRAMEWORK FOR WEB...
    • (ProQuest Information and Learning: ... denotes formulae omitted.) ...
  • ResMAE Provides TotalAccess -- New Online...
    • Business Editors BREA, Calif.--(BUSINESS WIRE)--April 26, 2004 ResMAE Financial Corporation, a wholesale specialty residential mortgage originator and servicer, has taken an important step forward by ......
  • Great expectations
    • Mike Benishek, risk manager for Pacific Tomato Growers, is the first to admit that he is lucky. His company, which has operations in over ten ......
  • American Guardian Enters A-Paper Market with...
    • LAKE FOREST, Calif. -- American Guardian Home Loans, a wholesale mortgage lender serving broker and homebuilder originations for Alt-A and nonprime products, unveils its ......
T T T
art_print_gray Print art_email Email 16x16-digg-guy  Digg It delicious-small  del.icio.us

Related Resources

icon - press release

Press Releases

icon - related resources - pen

Related Posts

default_80
Cold Calling Tips for Mortgage Brokers
I work with a lot of mortgage brokers most of whom are looking for appointments or prospects looking to refinance. Recently, I had the pleasure ...
Read More
lynette denike_80
Beware of Adjustable Rate Mortgages
Risky mortgage products are still being sold. You must decide whether they offer the best way for you to finance your home.
Read More
carol carter_80
One Expert Explains the Financial Crisis
Given that the House just rejected the proposed bail-out, more understanding may be useful.
Read More

Premium Content

presented by

Site Map | Contact Us | FAQs | About Us | RSS Directory | Sign Up for Free Newsletters | Disclosure Policy

Media Kit
Copyright © 1999 - 2009 AllBusiness.com, Inc. All rights reserved.
No part of this content or the data or information included therein may be reproduced,
republished or redistributed without the prior written consent of AllBusiness.com.
Use of this site is governed by our Copyright and Intellectual Property Policy, Terms of Use Agreement and Privacy Policy.

© Copyright Mortgage Bankers Association of America Nov 2002
Provided by ProQuest, LLC. All rights Reserved.

You may not repost, republish, reproduce, package and/or redistribute the content of this page,
in whole or in part, without the written permission of the copyright holder.

Get In-Depth Company Information from Hoover's | Buy a D&B Credit Report | What is in Your Company's D&B Credit Report?
Online Business Database | Online Business Information | Sales and Marketing Solutions | Business Mailing Lists | Company Profiles
Information and opinions on AllBusiness.com solely represent the thoughts and opinions of the authors and are not endorsed by, or reflect the beliefs of,
AllBusiness.com, its parent company D&B, and its affiliates.