We were standing at the water cooler the other day discussing recent changes in the Mortgage Lending Landscape. There sure has been a lot happening in the last 2-3 years.
- How have these changes affected the Mortgage Industry?
- How has it affected the ability of Mortgage Professionals to secure Mortgage Financing for clients?
- What has it meant for Consumers who need help but can not get it from their Bank, Credit Union or Finance Company?
Depending on who you speak with, the answers to the above will vary significantly!
All we know, being Mortgage Professionals ourselves, is in the past few years it has becoming increasingly more difficult to secure mortgage financing. Federal Government changes to Traditional financing rules has restricted the amount and methods in which consumers can borrow against the equity in on their home. Changes in the Mortgage Industry has also lead to reduced access to borrowing when consumers have "bumps in the road" and their Credit is damaged. It seems Chartered Banks, Credit Unions and other Lenders are really scrutinizing Mortgage applications these days
So what happens when the Big Banks are not willing to lend as freely as they did in years past?
Based on the increase in financing requests from Mortgage Professionals like yourself, it seems there is an excess in Demand for money and a lack of Supply of money available from traditional means. The principles of Supply and Demand are definitely at work in the Mortgage Industry and it has Consumers and Mortgage Professionals alike scrambling to find Lenders to fill the increase in applications.
If you need help placing a Mortgage Application with a Private Lender WE CAN HELP!
As a Mortgage professional, it can be challenging to find lenders who can help fill the ever increasing demand for Private Lending. In recent years, many new Private Lenders have entered the market place and the policies of these lenders are as varied and unique as each Private Lender.
To properly service your client base, you need to be aware of who can fund the variety of Private Lending requests. We can help!
Our team has combined 70 years of experience in the Mortgage Industry.
Our Team has brings experience from a variety of source as follows:
- Underwriting - Major Chartered Banks
- Mortgage Sales and Service - Major Chartered Banks
- Commercial Underwriting - Major Chartered Bank and Credit Unions
- CMHC Underwriting - CMHC
- Creation and Management of 2 MIC's
- Underwriting - Major Private Lenders
- Mortgage Brokering - 30 years experience
During our time in the Mortgage Industry, we have extablished and built strong relationships with many Private Lenders who can help you secure Private Mortgages for clients in need.
Our competitive edge however, is the new relationships we have formed with New Private lenders entering the Private Lending Arena. They have seen the increase in market demand and have built the structure and have secured the resources to accomodate Private Lending requests.
Our Lenders Feature:
- 90% LTV Financing in Major Centers
- 95% Purchase Assist Financing
- Competitive Rates
- Competitive Fees
- Fast Turnaround times for Mortgage Requests
We will consider financing for:
- Clients with Previous Bankruptcy
- Clients in Consumer Proposals
- Clients with current derogatory credit ratings
- Clients with Writs, Judgments and Garnishee's
- Clients who are Self-Employed
- Clients who require Light Commercial Financing
If you are looking for a Private Lender...give us a Call...We can help!
We look forward to speaking with you!