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.
