John Meussner, #MortgageMadeEasy Walnut Creek, CA 484-680-4852 (Mason-McDuffie Mortgage, Conventional Loans, Jumbo Loans, FHA, 203(k), USDA, VA,)

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Rainmaker
175,464
Spirit Messingham
Tierra Antigua Realty - Tucson, AZ
Third Generation Full-Time Realtor® 520 471-6900

I work with and refer clients to both and do understand the difference.  I personally have no preference, seems to be it has more to do with the loan officer than the place they work.  Get to the client the same day, return calls and emails, and get us the pre-qual when we need it to write an offer.  I do like working with local lenders, if things go sideways I can stop by their office for a little visit.  A little chat, get things straighten out.  Can't do that with a rep from out of state, if you can even get them to return your call(S).

Apr 13, 2015 11:46 PM
Rainmaker
3,960,483
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hi John -- I vote for the person who is knowledgeable, honest, responsive.

The title on their card doesn't make a difference to me.

Apr 14, 2015 04:24 AM
Rainmaker
1,707,347
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

Both, I have been finding non-conforming conventional loans out there including foreign national financing or above 10 mortgages, and it is not hard money.

Apr 13, 2015 10:27 PM
Rainmaker
4,433,483
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

I work with both. I give buyers names of 3 or 4 lenders .

Apr 13, 2015 09:41 PM
Rainer
368,026
Raoul Loustaunau
EXP REALTY - Phoenix, AZ
urhomefinder.com myvaluetoday.com

I work with both and usually they are good , what i don't like working with is bank LOs they are either new and don't know what they are doing or LOs that cant cut it outside of a bank giving them the leads that come in. bank turn around are slow , mortgage bankers and brokers usually close on time banks never do.

Apr 13, 2015 04:03 PM
Ambassador
953,351
John Meussner
Mason-McDuffie Mortgage, Conventional Loans, Jumbo Loans, FHA, 203(k), USDA, VA, - Walnut Creek, CA
#MortgageMadeEasy Walnut Creek, CA 484-680-4852

Thanks for the answers everyone - you've inspired a blog post!  I thought there would be more diversity in answers but it seems like a lot are similar.

Apr 13, 2015 01:45 PM
Rainmaker
4,799,356
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I don't care that much.  It's the person and their service.

Sep 26, 2018 06:53 AM
Rainmaker
3,069,684
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

We know both and let the Buyer make the choice

Sep 14, 2017 04:29 AM
Rainer
66,214
Evelyn M Epperson
Coldwell Banker Residential Brokerage - Johns Creek, GA
A Tradition Of [Excellence, Trust & Service]

Easy Mortgage Broker!  Bankers here can not close a home!!!

Apr 14, 2015 06:09 AM
Rainer
19,647
Jane Kalinowsky
Pantanella & Partners - Redondo Beach, CA
3rd Generation REALTOR® SRES®, CCS® (Luxury)

Direct Lender

Apr 13, 2015 11:12 PM
Rainmaker
1,445,127
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

John Meussner I've worked with mortgage brokers who offered programs a mortgage banker couldn't touch. I've also worked with good mortgage bankers.

Apr 13, 2015 11:06 PM
Rainmaker
2,410,591
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

Good morning John. I have two mortgage banker referral partners. They do some things we don't, so I refer them, they don't do many thing that we can get done.

Apr 13, 2015 08:04 PM
Rainmaker
2,441,966
Evelyn Johnston
Friends & Neighbors Real Estate - Elkhart, IN
The People You Know, Like and Trust!

Mortgage Banker

Apr 13, 2015 01:52 PM
Rainmaker
1,683,050
Larry Johnston
Broker, Friends & Neighbors Real Estate and Elkhart County Subdivisions, LLC - Elkhart, IN
Broker,Friends & Neighbors Real Estate, Elkhart,IN

I would rather it be a Mortgage Broker.  Many of the Mortgage Bankers have trouble getting loans approved, because of their own rules don't allow for flexibility.

Apr 13, 2015 01:43 PM
Ambassador
4,312,167
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

John Meussner I have been working with both - and found more flexibility for my clients when they go with Mortgage Broker.

And I also know, one of the lender (bank) had unique product for first time home buyers with virtually no closing cost - and rates were unbeatable! So in such cases, I had connected my buyers with that lender.

It's about them - our clients - isn't it?

 

Apr 13, 2015 01:06 PM
Ambassador
1,124,997
Russ Ravary ~ Metro Detroit Realtor call (248) 310-6239
Real Estate One - Commerce, MI
Michigan homes for sale ~ yesmyrealtor@gmail.com

Broker has many options of where to place a loan,,,, a banker does not

Apr 13, 2015 11:08 AM
Rainmaker
3,985,771
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Banker...hands down. 

Apr 13, 2015 10:33 AM
Rainer
10,989
Steven B. Harkness
American Capital Corp - Silverdale, WA
360-981-8615-concierge service VA-FHA-USDA

 Here is the simple Answer: Both, please let me explain. There are companies such as the one that I am afffliated with that have banked lines of credit with the big name deposity institutions that you all know. However, we are also allowed to broker which is great because it gives me the freedom to find the best fit for my clients needs. The advantage with keeping it in house on our banked lines of credit are of coarse the in-house underwriting and more direct control through out the process. However if the borrower's loan does not fit the tight little box that the big name mortgage banks are looking for...if you work for a mortgage bank you have one shot and if it doesn't fit so sad to bad your done. Being able to broker allows me to save the day and put the loan with a lender that thinks the loan looks just fine to them. I am happy to say that the Brokers are making a come back along with the alternative financing they offer. We are even once again doing stated income loans, bank statements only, and as the investors that buy these loans grow more confident the loan to values will be relaxed. 

Apr 13, 2015 10:17 AM
Rainmaker
379,589
Cindy Davis
SD Home Source Realty - San Diego, CA

I like mortgage brokers because they usually can do more different types of loans.

Apr 13, 2015 09:32 AM