PrimeSource Mortgage, Inc.; NMLS License #320270; Over 15 years experience as a mortgage broker & loan officer; Member - Upfront Mortgage Brokers; Founding Member - National Association of Mortgage Planners; Certified Financial Planner since 1990; member BNI Tarrant Corporate Connection
Contract With Client
UMB standard agreement; Texas Mortgage Broker Disclosure; agency relationship with clients
Rates are locked when specified & agreed to by the client; assistance provided with rate locks by monitoring appropriate financial markets & on-going extensive research
Third Party Fees
All lender & third party fees are estimated initially & disclosed when providers are determined; appraisals paid by client directly to appraiser or appraisal management company
Broker Fees
Broker Fees: Origination Fee & Processing Fee are the only fees charged
Origination Fee: case by case basis, 1 to 4% of total amount financed determined by size & difficulty of the loan and credit history
Processing Fee: $500 to $650 for most conventional loans; $550 to $750 for government loans (may be done in-house or contracted out); No extra fee on seconds for combo loans unless lender requires a full loan package
Lender Fees: Estimated initially; disclosed once actual lender is chosen; direct pass-through
Appraisal Fee: As billed by the appraiser or appraisal management company; only order what is required by the lender and/or automated underwriting unless client specifies differently (i.e. asks for drive-by, client wants full appraisal); Client pays fee up front directly to the appraiser or appraisal management company; final appraisal inspections if needed paid at closing unless required to be paid prior to closing by vendor
Yield Spread Premium: always credited to client & fully disclosed; any extra spiffs or incentives from lender are also passed through (purchase incentive, broker volume incentive, extra rebate over & above what is on rate sheet, etc.)
Bio
over 15 years experience as mortgage broker/loan officer; Certified Financial Planner since 1990; BBA Finance UT-Arlington 1974; NMLS License #320270 ; founding member NAMP (National Association of Mortgage Planners); dedicated Christian and treasurer for Robinson Road church of Christ in Grand Prairie TX; married (wife - Jo); no children; one cat (Buffy age 17); grew up in Snyder Texas; 35 year member Sports Car Club of America (former treasurer, board of directors, membership chairman, 3-time SW division racing champion, second at national championship runoffs 1981); member of BNI Tarrant Corporate Connection (currently mentor coordinator, former secretary/treasurer (2 terms), former member of membership committee, former education coordinator)
PrimeSource Mortgage, Inc. 1431 Greenway Drive, Suite 800
Irving, Texas 75038
