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The same it true of any retail lender, the wholesale division offers the
same loan with better pricing.
"ElJay" <LJ@LJLJ.LJ1> wrote in message
news:OPqdnTbyr807q73eRVn-1g@comcast.com...
>I'm just curious. How does that work? If I wanted a Countrywide
>mortgage,
> would I just go to any mortgage broker and say I want a mortgage through
> Countrywide? I thought most mortgage brokers only work with certain
> companies, so I'd have to find a mortgage broker who represents
> Countrywide, right? Just wondering.
>
> "Dollarsign" <rob.roi@verizon.net> wrote in message
> news:oYFTe.3$3B2.2@trnddc02...
>> I tried it. Rainmaker is right.
>>
>> www.mrheloc.com
>>
>> "Rainmaker" <brigadoon_8at@junodot.com> wrote in message
>> news:11fpetvl99o4ce9@corp.supernews.com...
>> > Countrywide Home Loans is one of America's largest mortgage lenders.
> They
>> > are a Fortune 200 company, and report funding over $10 billion in loans
>> > every month.
>> >
>> >
>> >
>> > But, the best-kept secret about Countrywide is, if you want the very
> best
>> > rate and terms for a Countrywide loan, you cannot get it from
>> > Countrywide
>> > Home Loans!
>> >
>> >
>> >
>> > That's right; you read correctly. Countrywide's best rate and terms
>> > can't be had from a branch of Countrywide Home Loans. Instead, you
>> > should call your local mortgage broker.
>> >
>> >
>> >
>> > Countrywide's Wholesale Lending Division (WLD) offers all the same loan
>> > programs to loan brokers that are available from their retail outlets,
> at
>> > substantially lower rates.
>> >
>> >
>> >
>> > Countrywide isn't alone; the same is true for Wells Fargo, Chase, and
>> > virtually every other major lender in America.
>> >
>> >
>> >
>> > The reason for this is something called, "The Cost of Origination", the
>> > time, energy, and resources necessary to find borrowers and write
>> > loans.
>> > Since the wholesale division relies on brokers to bear that cost, they
>> > pass the saving through. The broker, in turn, will share a portion of
>> > that savings with the borrower.
>> >
>> >
>> >
>> > If you do not believe me, you can prove it to yourself. Next time
>> > you're
>> > in the market to purchase or refinance a home, call your local
> Countrywide
>> > Home Loans branch. Ask the loan officer about a specific loan program
>> > that suits your needs. Then call your local mortgage broker and ask
>> > him/her if they are approved to originate Countrywide loans. When you
>> > find one who is, ask them to quote a rate on the same program.
>> >
>> >
>> >
>> > Even with broker origination fees, I guaranty the terms will be better.
>> >
>> >
>> >
>> > Try it.
>> >
>> >
>>
>>
>
>
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Re: Best Kept Secret About Countrywide
