Commitment of an Upfront Mortgage Broker

Most borrowers are frustrated by the veil of secrecy that most lenders put between themselves and their clients. By comparison, I have no secrets with my clients, and my 25 years of success demonstrates that over 4,000 clients like it. If you are looking for an open, upfront relationship with your lender, we have the basis for a constructive relationship.

1. The broker will be the customer's agent and representative, and will alway act in the best interests of the customer. More specifically, I look for ways to save you money, not for was to increase my income. YOU get 100% of all benefit.

2. The broker will establish a price for services upfront, in writing, based on information provided by the customer.

  • The price may be a fixed dollar amount, a percent of the loan, an hourly charge for the broker's time, or a combination of these.
  • The price or prices will cover all the services provided by the broker, including loan processing.
  • On services ordered by the broker but paid for by the customer, such as an appraisal, the broker will provide the invoice from the service provider at the customer's request. Alternatively, the broker may have the payment made directly by the customer.
3. Any payments the broker receives from third parties involved in the transaction will be credited to the customer, unless such payments are included in the broker's fee.
  • If the broker's fee is 1 point, for example, and the broker collects 1 point from the lender as a " yield spread premium"), the broker either charges the borrower 1 point and credits the borrower with the yield spread premium, or charges the borrow nothing and retains the yield spread premium.

4. The broker will use best efforts to determine the loan type, features, and lender services that best meet the customer's needs, and to find the best wholesale price (rand and points) for that loan from the lenders with whom we are approved.

5. After the terms have been locked, if requested by the customer, the broker will provide a copy of the applicable lender's rate sheet and/or lock confirmation that discloses the wholesale price.

6.    When directed by a customer who has met lender lock requirements, the broker will lock the terms (rate, points, and other major features) of the loan, and will provide a copy of the written confirmation of the rate lock as soon as it has been received from the lender. At the same time, the broker will guarantee all fees charged by the lender who locks the rate. If you like, you may ask for a revised Good Faith Estimate showing those fees..

7. If a customer elects to float the rate/points, the broker will provide the customer the best wholesale price available from the lenders with whom we are approved on the day the loan is finally locked.

I think that it is important to establish a trusting relationship with clients. Therefore you and I agree to my compensation in writing upfront and I won't change it. To check out the agreement, CLICK HERE.
If this kind of honest and integrity is what you are looking for, click on the button.
To find out more about Upfront Mortgage Brokers , click here.
Randy Johnson Independence Mortgage Company, 1601 Dove Street Suite 181, Newport Beach, CA, 92660
(949)-852-8822 Fax (949)-852-0441 Updated 8-4-06

Copyright 2006  Independence Mortgage Company