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HELP TO GET THE
LOAN FUNDED
As a consulting broker, participating in our broker program, you will be assisting your loan officer/underwriter,
in order to get the loan funded in the most efficient and timely manner.
As a consulting broker, you will
provide the borrower to Best Rate Finance (our mortgage division). We will process, underwrite, and fund the loan.
After determining the best loan program for the borrower, we will provide you and the borrower with a good faith estimate
and all the applicable disclosures, prepared by your underwriter, while you and the borrower will determine the rate and price based
on our competitive published daily rates.
We will also provide you and the borrower with a loan checklist,
detailing those items we need from the borrower to approve and fund the loan. You are responsible for consulting with
the borrower and helping us to get those items. You can email the conditions, or fax them to our CONDITIONS fax line.
Your underwriter will be able to answer any questions you or the borrower may have, and is always available,
either by phone or email. Your underwriter can also guide you on how to consult the borrower.
If we pre-approve
the file for a mortgage, we will provide you and the borrower with a Good Faith Estimate . Therefore, along with
issuing a list of conditions needed from the loan checklist, we will also be giving the you and the borrower a good
faith estimate up front, so that you and borrower are fully aware of all charges in the loan from the beginning. Most importantly, you are in constant contact with the borrower, processor,underwriter,
and funder, so you can maintain complete control of the file throughout the transaction.
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