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Frequently Asked Questions |
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How can I be sure that someone involved with us or another Home Mortgage Broker will not steal my loan from me? Answer: When you submit youre apps to our website, we DO NOT accept any personal Borrower information. Our web forms do not accept any Borrower names, addresses, phone numbers or social security numbers. Even if our security was breached, there would be no useful loan information to steal. Will I get a lot of SPAM sent to my email account if I subscribe to your site? Answer: There is no reason why you would get SPAM after registering with your site. We DO NOT sell or transfer our list of registered users to any third party. Registered companies may contact you by email or phone AFTER they provide you with a rate quote related to one of your submitted Home Mortgage loan apps. Otherwise, your contact information is not public. Do the participating companies charge higher rates or points for loans that are Pre-Qualified through the site? No. The companies use the exact same pricing that they use on their published rate sheets. Do the Lenders pay any money to your site either directly or indirectly? No. This site is completely FREE for Lenders. However, some Lenders may choose to pay for advertising space on our web site. What happens after I submit my deal? The scenario is immediately visible on the web site. In addition, an email notification containing the ID number and a brief summary of your scenario is sent to all the reps that can accept in the state where the property is located. Reps can view your entire scenario online and Pre-Qualify it. If it fits their guidelines, the Reps will contact you using a web form on our site. Your contact information is only visible to an Reps after he sends you a quote. How long after I submit my scenario will I have to wait for a company to reply? Some A.E.s watch the site very closely during the day and others only Pre-Qualify scenarios once a day or every other day. Therefore, you may receive replies within a few minutes, hours or days. If the situation is very difficult, it could take several days before you get a reply. Submit your scenarios, then work on getting more applications and closing your Pre-Qualified deals. Let the A.E.s come to you after you submit your scenarios. How many Lenders will Pre-Qualify my scenario? Your scenario can be viewed by over 300 different companies and we are adding new Lenders each day. How can I avoid getting hundreds of emails and phone calls from A.E.s? Your contact information is only made available to the A.E.s that have used our online web form to send you a rate quote. After 5 A.E.s have replied to your scenario, we "Hide" it from Lender view. If I decide to send my deal to one of the institutions that Pre-Qualified my deal, where do I send the complete package? You will send the application package directly to that Lender. We only help you and the Lender get together. Once that happens we are not involved. If my company subscribes to your site, are we automatically approved with the Co's that use your site? No. If you want to send a deal to a particular institution, your company must get signed up with that company. |
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Does a Wholesale have to get approved by you before their A.E.s can register with you? No. We allow any Wholesale A.E. register with you. How much does it cost for a Wholesale A.E. to register with you? It's Free. There are no hidden charges. Does My company have to pay you for tough situations that close. No. We do not receive any compensation from Wholesale institutions. We do accept payment for optional advertising space. Is there a way for A.E.s to make rate sheets available for Brokers to view? Yes. You can Login to your account and go to "My Profile". There you can upload several rate sheets or flyer documents. Brokers can view or download them. Do you have a search engine for programs? Presently we only offer a Wholesale Directory that is searchable for 13 different categories (FNMA, ALT-A, Sub-Prime etc.). A program search engine for Brokers is in development. How many times are the situations viewed on your web site. There is no limit to the number of times a deals can be viewed. However, we only allow 5 lending companies to reply to the loans. After 5 replies, the application is removed and CANNOT be viewed again by any other companies. How old are the Home Mortgage loan deals on this web site? New loans will be Date/Time stamped. Old situations do not have a Date. They can be several weeks or even months old. However, the Brokers remove their loan situations if they are not active. If a situation is on the site, you should consider it active and having received less than 5 replies from Lending institutions. Can A.E.s see the Live Bond Quotes? No. Live Bond Quotes are only available for Broker accounts.
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