Asset Mortgage Group was founded in 2001 by Mark Glynn, Loren Shapiro and Richard Shapiro.  Together, the partners of AMG have close to 50 years of experiance in the mortgage industry. 

We all had worked together at large regional lender.  At some point that company was sold and became part of a large national lender. When we opened AMG, we modeled a business plan based on the best practices we learned at our previous employers.  Although we are a small company, we offer the best rates and products from banks and lenders from all around the country. We work closely with our clients to get them the best terms for their individual finacing situation. In 2005, we expanded our product offering by becoming an FHA approved lender which allows us to originate reverse mortgages. As a company, we believe in the best practices and code of ethics from the associations we are affiliated with. These include:

-Massachusetts Mortgage Association

-National Reverse Mortgage Lenders Associan

-National Association of Mortgage Brokers
 

 
Non Mortgage Affiliations include Rotary International, Business Network International, and the MetroWest Chamber of Commerce.

As for licensing, we are licensed only in Massachusetts as both a Mortgage Broker and Mortgage Lender. We will work with clients in any area of Massachusetts.

Massachusetts License #MC3382  
 

Asset Mortgage Group uses industry standard technology which allows us the ability to submit loans electronically to our wholesale lenders, secure fast rate locks ,and  track approvals/conditions with ease.

 

Our technology can allow a client to close quickly, if needed. This will also depend on various factors of the client's situation. We also employ credit tools to assist you in correcting information on your credit. This will help you qualify fo the best rates available.

Asset Mortgage Group will lock your rate once we have a completed application (does not need to be signed), credit report, and certain personal information (pay and asset) confirmed. Our lock times will depend on the wholesale lender we are working with on your mortgage loan.  Some of our wholesale lenders allow for overnight protection (locking after business hours). 

When locking a purchase loan we need to have your closing date. 

Appraisal and Credit

Appraisals will run $375-600 depending on the property type and Credit Reports will run about $32.50-$65.00 depending whether one or two people are applying.

Wholesale Lender Fees
All the wholesale lenders we work with charge an underwriting or commitment fee.  The wholesale lender may also charge a Tax Service Fee and Flood Certification Fee if not specifically included in the Underwriting/Commitment Fee. Discount Points (based on the loan amount) might apply if you are trying to buy the rate down.

Attorney/Closing Fees

This category will include all charges associated with the closing attorney including the Attorney Fee, Plot Plan, Title Search, Title Insurance, Recording Fees, Municipal Lien Certificate, and any Courier or Overnight Fees.

When submitting an application we will provide a Good Faith Etimate that will show fees for the type of mortgage loan you are seeking.   If you are inquiring, we will gladly give you a Cost Estimate Worksheet.

The only fees we charge are a $400 Processing Fee and a Brokers/Origination Fee if choosing the Borrower Paid Option. With the Borrower Paid Option we have the ability to offset the fee you pay to us with a credit from the lender.

You may also choose to have the lender pay us directly. In that case, our fee will be paid by the lender. Call for futrther details. 

Asset Mortgage Group, Inc. is: A licensed Massachusetts Mortgage Broker #5221; licensed by the Nationwide Mortgage Licensing System #2020. 

Richard Shapiro is licensed LO by NMLS #3429.