Direct and Nod-direct lenders

Anonymous · ‎08-12-2008

I have a questionl How do I know who are direct and non-direct lenders, and where can I find them for refinance my mortgage? Any help is greatly appreciated.

BrianB_The_Loan_Professor · ‎08-12-2008

Direct are your banks Wells Fargo, WaMu, Chase etc.... most also offer a wholesale line to broker.

A Broker would be a non direct.

In the end very few banks keep your loan these days so whomever you finance with will not necessarily end up being who you pay out to.

Good Luck

Brian

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Brian B The Loan Professor
Mortgage Banker - offering FHA, VA, USDA , and Conventional mortgages in all 50 states -

If I do not respond to a follow up question please feel free to contact me directly

DallasLoanGuy · ‎08-14-2008

BrianB_The_Loan_Professor wrote:
Direct are your banks Wells Fargo, WaMu, Chase etc.... most also offer a wholesale line to broker.
A Broker would be a non direct.

In the end very few banks keep your loan these days so whomever you finance with will not necessarily end up being who you pay out to.

Good Luck
Brian

not to mention that your non-direct lender could actually beat the direct lender.... then turn around and sell it to that very lender. believe it or not!!

Retired Lender