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YOUR INCOME
As a consulting broker, participating in our broker program, you will receive a reasonable fee for consulting
and providing the borrower(s).
As a consulting broker, you will provide the borrower(s) 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 with a good faith estimate prepared by your underwriter and you will determine
the rate/price/commission based on our competitive published daily rates.
We will also provide you 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(s) and getting those items. You can overnight the conditions to us in our prepaid overnight envelopes, or
fax them to our PRE-QUAL line.
Your underwriter will be able to answer any questions you may have, and is always
available to you. Your underwriter can also guide you on how to consult the borrower(s).
We will also provide
you with a Good Faith Estimate . Therefore, upon giving your borrower the list of items needed from the loan checklist,
you will also be giving the borrower a good faith estimate up front, so that borrower is fully aware of all charges in the
loan from the beginning. Most importantly,
you are in constant contact with your borrower, processor,underwriter, and funder, so you can maintain complete control of
the file throughout the transaction.
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