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FMC is proud to be a long time member of the FAMB and NAMB.
Florida Mortgage Corporation finances properties all across Florida.
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OVER 150 MORTGAGE PROGRAMS
Mortgage brokers originate more than
60% of new home loans nationally.
An independent study conducted by
Georgetown University says applicants pay "LOWER" financing costs when
they obtain their mortgages through mortgage brokers instead of from
loan officers directly employed by lenders or banks.
The same pattern holds true for
African-American, Hispanic, and low income borrowers.
This information was presented at a
Federal Reserve Board conference held on April 7, 2005
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FAMB = Florida Association Of Mortgage Brokers
NAMB = National Association Of Mortgage Brokers
A Florida mortgage broker:
Is an expert in analyzing, advising,
structuring, underwriting, packaging, presenting and negotiating loan proposals .
Is knowledgeable in the many types of mortgage loans available.
Has a vast network of lenders and investors that are available
for the placement of your mortgage package.
Is continuously updated as to rates available in the ever-changing mortgage
market.
Is a specialist in all phases of mortgage lending and has the resources
available to handle all your financial needs.
A Professional who…
Is a licensed full time professional who may be a licensed Florida mortgage broker, an
originator working for a lender or the principal representative of a Florida
licensed lender.
Has passed a qualifying examination administered by the State of Florida.
Analyzes, processes, packages and arranges loans for a fee.
Is knowledgeable as to rates and terms available to suit the client’s needs
 One of the best criteria is whether the Florida
Mortgage Broker or originator is a member of the Florida Association of Mortgage
Brokers - FAMB.
FAMB members are pledged to a strict Code of Ethics and Professional Practices.
Members regularly attend mortgage seminars to keep current on mortgage market
conditions.
Florida licensed brokers, loan originators and lender’s principal
representatives must complete fourteen hours of continuing education biennially
covering the laws and business practices of the mortgage industry..
Look for the emblem indicating membership in the Florida Association of Mortgage
Brokers.
They should
be a full-time professional. A seasoned mortgage veteran, a Florida Mortgage
Broker.
They should have a good knowledge of the current day-to-day mortgage market,
including the type and terms of loans that lenders will fund.
They should be capable of analyzing, advising, restructuring, underwriting,
packaging, presenting and negotiating your loan proposal.
Whether arranging the purchase or refinance of your property, the
Florida Mortgage Broker professional
should know your property’s current market value.
Most professionals specialize in different areas of mortgage finance. Choose the
Mortgage Broker or originator whose specialty suits your individual
needs.
Licensed mortgage brokers and lenders are required
by statute to furnish you with a Good Faith Estimate of costs.
Licensed
Florida mortgage brokers must enter into a written agreement with their
clients.
The agreement spells out the obligations of each party and customarily
provides for the exclusive right of the professional to seek the financing
desired by you.
This agreement may require that you place a good faith application deposit
with the Mortgage Broker.
The general format of the agreement also includes delineation of the fees and
points that will be paid at closing.
The agreement must disclose whether the Florida Mortgage Broker or professional
is receiving funds from the lender. This must be disclosed on the Good Faith
Estimate and on the HUD-1 Closing Statement.
Today’s market is very complex. Whether or not you
are sophisticated in the field of real estate finance, you should retain the
services of the FAMB Professional.
Members subscribe to a Code of Ethics of the Florida Association of Mortgage
Brokers, the National Association of Mortgage Brokers and must adhere to
stringent regulations of the State of Florida.
Look for the emblem indicating membership in the Florida Association of Mortgage
Brokers - FAMB.
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