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Tuesday, 20 March 2018 16:17

Aggressive and Dishonest Lenders

Many borrowers come to Indigo Mortgage and tell us that they are constantly bombarded with solicitations from large out-of-state lenders. When consumer credit report agencies like Equifax, Transunion and Experion pull credit reports, they automatically sell borrower’s information to lenders nationwide. Many of these big lenders take this information and use it to contact people out of the blue, and their approach is sometimes pushy.

In one extreme case, a lender contacted a borrower offering a loan with a very low fixed rate. Before he knew it, the lender had sent an appraiser to his home. Other lenders were calling him every hour. Interestingly, while the lender was offering was a low interest rate, there were over $11,000 in hidden closing costs! This refinance would have cost our borrower thousands of dollars, and it wouldn’t have improved his situation at all. We advise our borrowers never to use a lender that contacts them out of the blue.

Sadly, this is something that many of our customers have experienced before coming to Indigo Mortgage. Unlike large out-of-state lenders, local brokers like Indigo Mortgage care about you and your loan. We are nearby, so we are always available to thoroughly answer any questions you might have about your loan. When you work with Indigo Mortgage, you work with the same person throughout the entire loan process, no call centers, no ever-changing customer service representative. At Indigo Mortgage, we value education, and we do our best to make sure you have as much helpful information as possible when you’re shopping for a mortgage.

Published in Blog
Tuesday, 24 October 2017 18:00

KKOB October 24

It's come to our attention that several companies have been posing as Indigo Mortgage online in an attempt to obtain sensitive information from shoppers. Ben Lucero addresses this on KKOB and talks about the importance of keeping your information secure online.

Published in Radio
Tuesday, 24 October 2017 17:26

Beware of Imposters: A Note from Ben Lucero

When it comes to shopping for a mortgage, buyers have more options now than ever! This is great for buyers, because it means they have the opportunity to find the lowest rates and best terms, but it also means a lot of searching. To complicate matters even further, for every legitimate broker or lender, there are plenty of scammers out there trying to take advantage of shoppers. Just last week, I googled Indigo Mortgage out of curiosity, and I was completely taken aback by what I found. Three different online companies made it appear that their link was Indigo Mortgage – but each one wanted borrowers to input their social security number and date of birth!

First of all, I want to tell borrowers NEVER give out your social security number online when you’re shopping for a mortgage. At Indigo Mortgage, our online quick analysis form only asks for your name, contact information, and a short explanation of the type of loan you are looking for. We never ask for your social security number online - not until you come into our office to speak with us face to face and you’re ready to move forward with a loan.

I want to let borrowers know that there are unscrupulous lenders out there that are trying to steal local business. If you are looking for Indigo Mortgage online, make sure you’re visiting the correct website – indigomortgage.net. Don’t be fooled by imposters that just want to capture your information.

Published in Blog

As one of New Mexico’s largest mortgage brokers, Indigo Mortgage can offer some advantages to homeowners and prospective homeowners. We believe that no one cares more about your mortgage loan. We work for the borrower, and not the bank. Our goal is to find you the best rate on the market, and save you money!

As a mortgage broker, we can represent our borrowers to a number of different mortgage lenders. This saves the consumer time, and money, because we can find the lowest rate on the market. Banks and other national lenders are limited to offering rates from their rate sheets. Often this is not the best rate for the consumer.

By law, as a mortgage broker, our compensation must be set as a percentage of the loan amount. Most of the time, this is covered by the lender and paid in the rate. If the chosen rate is more than our compensation, whatever is above our fee is credited to the borrower via lender credits. Banks and net branches however, pocket whatever exceeds their fees for profit. In contrast, we have seen many FHA and VA borrowers pay off all of their closing costs using the lender credits we provide, without having to pay a higher rate!

So how do you know if you are working with a bank, net branch, or a mortgage broker? Ask yourself, do the underwriters and loan originators work for the same company? If they do, that means they work for the bank, and not for you. A local broker like Indigo Mortgage however, works for you, the customer, not the bank. If you are searching for a new home or are looking to refinance, contact Indigo Mortgage.

Published in Blog
Tuesday, 14 February 2017 23:04

KKOB on February 14

Today on KKOB, Ben Lucero of Indigo Mortgage discusses why borrowers should be wary of national lenders that promise conventient online loans, and why it's more efficient to work with a local lender.

Published in Radio

From The Blog

  • Stay Local for Your Purchase +

    Finding and getting a mortgage is a lengthy process. Many national institutional lenders promote their fast pre-qualifications and ease of Read More
  • Come to Indigo Mortgage for Your Construction Loan +

    Building your own home instead of buying an existing home, allows homeowners a lot of flexibility. Building allows homeowners to Read More
  • Stay Local for Your Pre-Qualification +

    At Indigo Mortgage, we always advise borrowers to shop local when they’re looking to pre-qualify for a mortgage. Online lenders Read More
  • Aggressive and Dishonest Lenders +

    Many borrowers come to Indigo Mortgage and tell us that they are constantly bombarded with solicitations from large out-of-state lenders. Read More
  • Reverse Mortgage Education +

    Most seniors have seen the ads on television, received the emails or the postcards in the mail. Advertisements for reverse Read More
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