Answer to Suzanne

Suzanne said...
How can I research a mortgage product that is being advertised by another mortgage broker. I have clients asking me about the product and my competition is not willing to share who the lender is that is offering that program.

Real Example: No mortgage payments for a year...All I was able to find out from the advertising broker is that it depends on credit and equity position and it is a one year arm.

Suzanne,
This is a common problem for newcomers. There is no easy answer except to be aware of most of the lenders in your area. Or to ask someone who already is. Call your favorite lender and ask if they have this program or something similar. If not ask them who does. Your rep should be able to help if he/she does not have the program.

Programs come and go. You will not be able to keep track of all the crazy programs from all the lenders. Just get on the mailing lists of as many lenders as you can find. And go to the free seminars put on by the lenders to learn as much as you can.