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heloc home equity loan, commercial lending, dscr, non-qm, prime low fico itin, va loan, conventional loans, Jumbo loans

Why Brokers are Better!

Retail Lenders
  • Stuck with a single lender’s retail pricing

  • Loan is completely locked, cannot change pricing midstream if rates plummet

  • Retail pricing incorporates that lender’s high overhead costs: Executives’ salaries, stockholders’ dividends, mass marketing to include NFL, MLB, and ballpark endorsements, brick and mortar offices, high income tax burden, and much more.

  • Costly lock extensions

  • Higher fees also equate to higher rates as lenders can only charge so much. If the loan costs exceed certain state and/or federal thresholds, the lender is precluded from offering lower interest rates.

  • Possibly just another number on the corporate ledger

My Mortgage Lawyer
  • 90-lender network to shop for the very best wholesale rates and fees

  • Can easily transition to another lender midstream if rates plummet

  • Always wholesale pricing

  • Extremely low overhead

  • State of the art credit repair and rapid rescore capabilities.

  • Free lock extensions

  • Because our loan fees are substantially lower, we can offer lower rates as lenders can only charge so much per federal and state law.

  • We form a special fiduciary relationship with each and every client to ensure the very best loan advice and service in the industry

Common Broker Misconceptions
  • Brokers charge higher fees through their commissions:

    • Using the example below, My Mortgage Lawyer saved this client $6,638 in closing costs and achieved a lower interest rate from 6.375% to 5.99% on the exact same loan. This was the same lender but My Mortgage Lawyer used its wholesale channel and funded this loan 7 days later.

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With My Mortgager Lawyer and its Tier 1, wholesale pricing, these savings are the rule, not the exception.

heloc home equity loan, commercial lending, dscr, non-qm, prime low fico itin, va loan, conventional loans, Jumbo loans
heloc home equity loan, commercial lending, dscr, non-qm, prime low fico itin, va loan, conventional loans, Jumbo loans
  • Brokers use substandard loan processors to cut costs:

    • All our loan processors have a minimum of 10 years’ processing experience. Most, if not all our processors, transitioned from major lenders to the broker side.

  • Brokers’ processing and funding turn time is longer than retail lenders.

    • My Mortgage Lawyer uses the same large lenders like Rocket Mortgage for the majority of its Conventional, FHA, VA, and Jumbo loans. Most loans fund in about 15-18 days from origination. However, using Rocket’s WHOLESALE channel our clients save literally thousands of dollars in costs and receive substantially lower interest rates.

heloc home equity loan, commercial lending, dscr, non-qm, prime low fico itin, va loan, conventional loans, Jumbo loans
heloc home equity loan, commercial lending, dscr, non-qm, prime low fico itin, va loan, conventional loans, Jumbo loans

Cameron Oxberry, Esq., LL.M.

Founder

NMLS: 19744858

CA DRE: 02116240

CA Bar: 338819

 

Office/Text: 858-779-0151

Fax: 949-771-2561

heloc home equity loan, commercial lending, dscr, non-qm, prime low fico itin, va loan, conventional loans, Jumbo loans
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heloc home equity loan, commercial lending, dscr, non-qm, prime low fico itin, va loan, conventional loans, Jumbo loans

NMLS: 1566096

CA DRE: 02022356

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Address: 24 Executive Park, Ste 250, Irvine, CA 92614

heloc home equity loan, commercial lending, dscr, non-qm, prime low fico itin, va loan, conventional loans, Jumbo loans
heloc home equity loan, commercial lending, dscr, non-qm, prime low fico itin, va loan, conventional loans, Jumbo loans
heloc home equity loan, commercial lending, dscr, non-qm, prime low fico itin, va loan, conventional loans, Jumbo loans

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