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Realtors Prefer Working with Mortgage Brokers

Tuesday Apr 28, 2015
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A very recent national study shows that realtors prefer working with mortgage brokers over banks when referring a lender. Mortgage brokers were the preferred choice at 47%, banks came in at 31%, and non-bank lenders came in at 22% (non-bank lenders can also be classified as net-branches). When indicating their preference, realtors were asked to consider speed, responsiveness, cultural fit, and the breadth of products offered.

Just last week, we outlined how an out-of-state bank compromised a purchase transaction with a lack of responsiveness- so we know that these things really do matter, and just one example of many reasons why realtors feel more comfortable working with local lenders.

A mortgage broker first and foremost works for the borrower, while loan officers at banks and net-branches work for their respective companies. Mortgage brokers can pick between many different lenders in order to ensure that they get the best pricing for their clients and fit all of their unique needs. Banks can only offer what their business offers, which isn't always the best deal for the borrower. If the company website isn't local, then be skeptical! You may be dealing with an out-of-state lender regardless of whether or not their loan officer is local, and that can lead to some response time problems later on.

Have questions? Don't hesitate to get in touch with the local experts at Indigo Mortgage!

Indigo Mortgage is a locally owned and operated company, serving homebuyers in Albuquerque, Rio Rancho, Santa Fe and all across New Mexico. For questions about selecting a mortgage lender, contact Indigo Mortgage in Albuquerque at (505) 836-5700. Indigo Mortgage offers five mortgage divisions including Residential, VA Loans, Reverse Mortgages, Construction and Commercial. They are licensed by the Nationwide Mortgage Licensing System (NMLS #188348), and can provide loans anywhere in New Mexico.

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