Yes! We are not principals so we do not buy the loans ourselves. Instead, we're a virtual trading desk. Kim has been doing this for 25 years and is available when the bond market is open. Her clients rely on her to execute their rate locks in a timely, beneficial fashion. Her clients see the value in having an off-site capital markets desk, knowing they're only paying her if she's doing deals for them.
We will work with you to help you establish the right servicing relationship for your circumstances. Some servicing companies like to control the rate lock process--because they know it's a profit center. Kim is available to provide market interest rates to all lenders so they know what price their interest rate is going for.
Of course! Kim is always available to talk, no matter your loan's issue. If you need a rate-lock extension, just give her a call. If your loan delivery has any other issue, she can reach the right people inside the investor's organization to make things right. She even helps with construction loan draw issues--many months after the rate lock has been executed. After 25 years in business, she's encountered many instances where her involvement has kept conflicting parties talking to each other.
Kim earns her placement fee when the rate lock is executed, though she doesn't receive payment until the full delivery is complete. This is usually a month after you, the lender, deliver the securities to the investor. Her fee is paid by the investor.
Investors are not allowed to speak to each other about the market they're competing in because that would be market collusion. Kim's protects investor information. As a third party, her only goal is to get the best rate and price for each loan. The investors understand that she will always treat them fairly and keep their information private. Investors also trust Kim to keep them abreast of issues related to HUD and GNMA policies that may affect loan delivery timing. They pay her a placement fee for sourcing loans, serving the lender customers who have sold them loans, and mediating disputes before they become a problem.
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