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a5950
2 Posts |
 Posted - 06/03/2008 : 07:58:02 AM
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| I have always told my clients to go directly to BOA, Wells Fargo and WaMu. Now I want to do my own loans but don't know where to start. I like dealing with big lenders but read all the ablve have closed their wholesale lines to broker. Who are the biggest wholesale lenders I can go to? I am a licensed broker. Thanks!! |
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loanblast
7 Posts |
Posted - 06/07/2008 : 11:09:06 PM
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quote:
Originally posted by a5950
I have always told my clients to go directly to BOA, Wells Fargo and WaMu. Now I want to do my own loans but don't know where to start. I like dealing with big lenders but read all the ablve have closed their wholesale lines to broker. Who are the biggest wholesale lenders I can go to? I am a licensed broker. Thanks!!
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loanblast
7 Posts |
Posted - 06/07/2008 : 11:12:51 PM
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You may contact me if you like to go through a broker. We work with many lenders.
You may email at loanblast@gmail.com or call at 408-329-2928
Thx
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a5950
2 Posts |
Posted - 06/08/2008 : 06:14:30 AM
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| Thank you but I would like to find a DIRECT lender as opposed to brokers. Can anyone lead me where to start? Thanks. |
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gusatenvision
4 Posts |
Posted - 06/09/2008 : 05:11:20 AM
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Hi a5950,
It depends which state do you plan to originate from. Since you are a realtor, you are out of FHA loans since HUD will not allow you to come with a RE License and MB license. You can find direct lenders at scotsmanguide and apply with them directly as long as you have a brokerage (I am in FL so brokers alone cannot signup with many lenders unless they have a business brokerage setup)...
If you have not done any loans before, I would suggest to start with Erik Webster's free training at http://www.loanofficersurvival.com/
or buy the complete cd's which are worth every penny.
Have a nice trip!!!
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aspiring1
1313 Posts |
Posted - 06/09/2008 : 11:01:50 AM
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quote:
Originally posted by a5950
I have always told my clients to go directly to BOA, Wells Fargo and WaMu. Now I want to do my own loans but don't know where to start. I like dealing with big lenders but read all the ablve have closed their wholesale lines to broker. Who are the biggest wholesale lenders I can go to? I am a licensed broker. Thanks!!
Do you have any experience originating? |
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FLProcessor
429 Posts |
Posted - 06/10/2008 : 12:33:40 PM
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Last I checked, stats show that Countrywide is the largest and Wells Fargo comes in second. If you're looking for the largest, that should be all you need, both have large wholesale divisions.
Now for some information (you didn't ask for, admittadly) that will help you far more... Go do some work with a more experienced broker, before trying to setup with "the largest" wholesale lenders. Even in the few lines you've written, it's clear that you will be significantly more successful if you follow this advice. And if you don't, good luck with your current plan! |
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kellamtom
633 Posts |
Posted - 06/18/2008 : 03:24:05 AM
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most of the loans originated are sold to the "big lenders" on the secondary market right?
wamu shut it's wholesale operations down 2 mths ago |
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aspiring1
1313 Posts |
Posted - 06/18/2008 : 6:53:37 PM
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quote:
Originally posted by FLProcessor
Last I checked, stats show that Countrywide is the largest and Wells Fargo comes in second. If you're looking for the largest, that should be all you need, both have large wholesale divisions.
Now for some information (you didn't ask for, admittadly) that will help you far more... Go do some work with a more experienced broker, before trying to setup with "the largest" wholesale lenders. Even in the few lines you've written, it's clear that you will be significantly more successful if you follow this advice. And if you don't, good luck with your current plan!
IMO, sending anything to Countrywide is a mistake. :) |
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