Broker vs Banker

Real Estate Broker CABRE #01143484 CA Mortgage Broker NMLS: 461708 Frazier, Eric, Lawrence Broker Company NMLS 1273606 | Eric L. Frazier Broker NMLS 461708

Mortgage Broker verses Banker The Consumers Advantage

Why Use Mortgage Broker Verses a Banker • There are three reasons to use a broker instead of a bank/banker: Expertise, Time and Money. • As a mortgage Broker, I am approved with many bankers and portfolio Lenders that offer programs for first time homebuyers, move up buyers, investors, churches, nonprofits and foreign nationals. Mortgage brokers have unlimited access to loans unlike bankers. They also have the time and expertise to search for the loan you need.

Frazier, Eric, Lawrence Broker Company NMLS 1273606 | Eric L. Frazier Broker NMLS 461708 3

Mortgage Brokers Arrange Loans • Brokers do not make loans, we arrange loans for borrowers. We represent the borrower and not the bank. We find the terms and rates our borrowers want from the bank who will provide it. We save them time and money shopping with multiple lenders and the additional time it takes to go through the process.

Frazier, Eric, Lawrence Broker Company NMLS 1273606 | Eric L. Frazier Broker NMLS 461708 4

Mortgage Brokers Arrange Loans • A Real Estate Broker looks high and low for the home their clients want. Mortgage brokers are committed to conduct the same research for the right loan their client wants and saves his client’s time and money in the process.

Frazier, Eric, Lawrence Broker Company NMLS 1273606 | Eric L. Frazier Broker NMLS 461708 5

Mortgage Brokers are Service Providers • Mortgage brokers provide a concierge level of service in that they can conduct business on their clients terms and in anyway their clients prefer: over the phone, online, at their office or home. This is ideal for busy professionals who do not have the time to sit and wait for a banker, or come down to the bank.

Frazier, Eric, Lawrence Broker Company NMLS 1273606 | Eric L. Frazier Broker NMLS 461708 6

Mortgage Brokers are Service Providers • These same professionals need the expertise of a mortgage broker because they also do not have the time to research the products or programs the bank is trying to sell. Everyone needs an advisor or coach to help them make the right decision.

Frazier, Eric, Lawrence Broker Company NMLS 1273606 | Eric L. Frazier Broker NMLS 461708 7

Mortgage Brokers are Service Providers • brokers more than just sales people they subject matter experts, advisors and advocates for their clients. The borrower is the mortgage brokers client - not the bank. The mortgage Broker’s allegiance is to his client only and all mortgage brokers want what their clients want, just like a Real Estate brokers who are assisting their clients to find the home of their dreams.

• Once you work with a mortgage Broker you will never work with a bank or mortgage bank directly again.

Frazier, Eric, Lawrence Broker Company NMLS 1273606 | Eric L. Frazier Broker NMLS 461708 8

Mortgage Broker Licensing & Requirements • California mortgage brokers are licensed by the Federal Government’s National mortgage Licensing System and the State of California Bureau of Real Estate.

• Mortgage brokers are required to take continuing education courses to maintain their license every year like many other professions.

Frazier, Eric, Lawrence Broker Company NMLS 1273606 | Eric L. Frazier Broker NMLS 461708 9

Mortgage Broker Licensing & Requirements • The Great Financial Crises of 2008 brought many changes in lending. Mortgage brokers have more licensing and education requirements to meet than Federally Insured bank loan officers. Mortgage brokers must also meet credit standards, net worth and asset requirements, and pass state and federal exams.

Frazier, Eric, Lawrence Broker Company NMLS 1273606 | Eric L. Frazier Broker NMLS 461708 10

Mortgage Broker Licensing & Requirements • Mortgage professionals who also hold a real estate agents or broker license take a real estate exam, and additional continuing education courses are required. • Mortgage & Real Estate brokers are highly educated, experienced and qualified real estate professionals.

Frazier, Eric, Lawrence Broker Company NMLS 1273606 | Eric L. Frazier Broker NMLS 461708 11

Mortgage Broker Compensation • Mortgage brokers are compensated the same way bankers and portfolio lenders are. The difference between the two is that mortgage brokers embrace transparency and disclose their compensation to their clients just like Real Estate brokers. Banks and mortgage banks are not required by law to disclose their compensation. • Banks should be held to the same high standard that mortgage and Real Estate brokers are, but they are not.

Frazier, Eric, Lawrence Broker Company NMLS 1273606 | Eric L. Frazier Broker NMLS 461708 12

The Mortgage Broker Advantage • Because of the lack of transparency in banking there is an illusion that it may be more advantageous to use a mortgage bank. • In fact, borrowers have more advantages working with a mortgage broker because of their access to unlimited programs and interest rates. They have more programs than any one bank or group of banks combined. In addition, mortgage brokers can compete with any bank or portfolio lender in cost, interest rates and fees.

Frazier, Eric, Lawrence Broker Company NMLS 1273606 | Eric L. Frazier Broker NMLS 461708 13

Mortgage Brokers Save You Money • As a mortgage broker I am a low cost provider of mortgage services in that I do not charge any processing, underwriting, or administrative fees to my clients. I seek out wholesale financial institutions that do no charge any fees. My typical loan will only have the necessary third party fees to facilitate the transaction. In some cases, the wholesaler may have fees that are passed on to the borrower. But this is rare event.

Frazier, Eric, Lawrence Broker Company NMLS 1273606 | Eric L. Frazier Broker NMLS 461708 14

Mortgage Broker Get Results!

• Mortgage Brokers can find the best interest rate for any type of property or loan and do it quickly because they have many options • Mortgage Brokers can process your loan faster than banks because they do not have the bureaucracy that banks have • Mortgage Brokers use contract processors and many lenders so there is no standing in line and waiting to get the loan closed quickly • Mortgage Brokers can work with you regardless of your financial or credit circumstances and will never say no if there is product for you in the world of lending. We know this is cannot be the case for banks.

Frazier, Eric, Lawrence Broker Company NMLS 1273606 | Eric L. Frazier Broker NMLS 461708 15

Mortgage brokers Get Results!

• I am Mortgage Broker and Real Estate brokers and proud to be so. I am indebted to the industry for teaching me and the many people who have mentored me over the years.

• Now I proudly serve the community independently and work to make home ownership a reality for everyone • Once you use a qualified mortgage broker you will never go direct to a bank again. Please call me today. I can help you. 800-261-1634 x 703 • Licensed CA Only NMLS 1273606.

Frazier, Eric, Lawrence Broker Company NMLS 1273606 | Eric L. Frazier Broker NMLS 461708 16

Real Estate Broker CABRE #01143484 CA Mortgage Broker NMLS: 461708 Frazier, Eric, Lawrence Broker Company NMLS 1273606 | Eric L. Frazier Broker NMLS 461708