|
About Michael Pacheco
SMARTER SOLUTIONS
Experience— I believe that the right experience can turn a mortgage crisis into a mortgage opportunity. I’ve dedicated my business to a constant environment of learning and change. The goal is to completely understand lender guidelines, loopholes and niches.
Creativity— I believe that a quality borrower may not always fit snugly into the box. As a puzzle always has a solution, so does a loan. We’ll come up with every legal and ethical solution to a loan problem. Sometimes this means finding lenders who are more flexible. Oftentimes, this means brainstorming with you to create workable strategies.
Hard work— I believe that you overcome hard times by working harder. Business is not easy now. Doing loans can be even more challenging. It takes fortitude and determination to bring a loan from inception to funding. If it means arguing with an underwriter or creating a new lender relationship, I’ll find a way.
Relationships— I believe that innovative ideas start with old-fashioned values. Often, knowing how to do something is never enough. I depend on many talented people including; assistants, lenders, underwriters, processors, and other loan consultants to help serve our clients. Our goal is to effectively serve you so that you might become a new referring relationship.About Although I don't regard it as a measure of my ability to do loans well, I hold a Broker's license issued by the California DRE. I've been working as a loan originator with FamilyHomeLoans.net (formerly Park Place Funding) for 6 1/2 years. In 2008 and YTD 2009 I am the top producer of 60 agents. As a sales profession, originators have the ability to offer the type of service that best suits their personality. Some compete by cutting costs and competing directly on price. Some rely on their skills building relationships. I've chosen to build my business as a consultant providing expert advice and solutions based on a comprehensive understanding of lender guidelines and protocol. FAQ's-- Q--What are the fees? A-- In most cases I charge 1.0-1.5 points (% of loan amount). Also, my broker charges $995 admin/processing on conventional and $1195 on FHA. The lender will charge about $950 as well. Q-- Is this expensive? A-- It is about standard for a broker. The nature of a broker is that I cannot directly compete at a price/rate level with direct lenders like Wells Fargo and Bank of America for those clients who are "clean." This is about half of the market. The other half finds having an expert advisor valuable.
|
