A very important difference with Bachman Lear is agility
Agility is the ability to re-direct a loan to an alternative lender on short notice. That can be critical should a complication in underwriting threaten your closing. If you applied directly to one of the big lenders you will be stuck with an immovable loan application package. It there's a problem you'll probably have no time to start over somewhere else. Our position as a 30 year veteran independent lender gives us the ability to negotiate accommodations or exceptions others can't. Not just because we can move your loan, but because we can move all our loans. We have leverage with the lender that a borrower, or loan officer, especially an online loan officer, is not going to have even with their own company.
Every lender, even the biggest you can name, originate first mortgage loans for resale behind FNMA or FHLMC mortgage backed securities. If the loan in post closing audit is determined ineligible the lender has to buy it back. Somebody's going to get fired. Now, you know that each borrower and property is unique, even among the best examples. Combine a never ending stream of new rules and regulations with inconsistent interpretation by lenders and regulators alike and a loan that was moving along smoothly can suddenly runs into a wall.
Logic isn’t so much ignored today, it’s often irrelevant. Add to the problem that there are fewer and fewer decision makers among lenders and of those, they are all reluctant, you begin to get the picture today. After the fiasco of the mortgage debacle that sent the nations economy into a tailspin, it should come as no surprise that rules and regulations have gone off the deep end to the extreme. Often it makes more sense to simply switch lenders if an issue arrises over some interpretation rather than waste the time to argue logic or even fact with someone not in position to make a decision. It's hard enough for us to get to the decision maker sometimes and we probable do millions of dollars worth of business with that lender. What are the chances you get to one when a complication arrises? Even if you did, from what level of comprehension of the technical issue at question would you be in a position to argue? At least we can argue the situation from the position of expertise.
If ever there was market that favored the independent lender that can broker to a number of lending sources, now would be that time. Bachman Lear has the experience to know in advance how current rules and regulations will apply to your application through a variety of the nations’ top lenders. We can guide the loan in the right direction in the very beginning. That doesn’t mean we still don’t get surprised in the middle of the process by something that nobody saw coming. But, at least our package is interchangeable among lenders. The lenders’ in house packages are not. That is another reason to choose Bachman Lear for “The best mortgage on the Planet.”