Mortgage technology and beyond: Every mortgage broker needs a LoanToolbox

Oct 09, 2005

With InterFirst's new OneFee, GMPs are easy MortgagePress.comMortgage GMP Ann Arbor, Mich.-based InterFirst Wholesale Mortgage Lending is now offering mortgage brokers its OneFee "Pricing Tool Only." An expansion of InterFirst's OneFee mortgage package program, Pricing Tool Only enables brokers to produce guaranteed mortgage packages (GMP) using local settlement service providers. Brokers can select their own settlement service providers and negotiate the associated costs. In addition, Pricing Tool Only enables brokers to manage their third-party vendor services from the time of the mortgage loan application, through closing and funding. "InterFirst is committed to providing mortgage brokers with the tools they need to effectively compete in a changing mortgage market," said InterFirst senior vice president, Fran Clemens. "Pricing Tool Only offers mortgage brokers the best of both worldsthe ability to offer guaranteed mortgage packages while continuing to work autonomously with their local settlement service providers." Mortgage loan costs that are quoted using Pricing Tool Only are based on InterFirst's wholesale mortgage products and interest rates, and incorporate lender-related costs in the quote. Mortgage brokers using Pricing Tool Only add settlement services and other third-party costs they have negotiated individually to the GMP quote provided by InterFirst. With Pricing Tool Only, the mortgage broker assumes any risk that may be associated with guaranteeing the mortgage costs quoted to consumers at the time of application. For more information, visit www.interfirst.com.

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Oct 09, 2005

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