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Who are the actual lenders?
Posted: Mon Jan 17, 2005 4:41 pm
by Marcy
I've been calling loan companies about refinancing and they all seem to be brokers who deal with certain "lenders". Who are these lenders and can I access them directly for a loan? I live in California.
Re: Who are the actual lenders?
Posted: Wed Jan 19, 2005 7:51 pm
by Mac
For home-only loans, Washington Mutual used to, US Bank does. Ask the broker who the lenders are. They are all subject to real estate lending laws.
For home/land loans, pretty much everyone does conventional loans here in Oregon. I started with Wells Fargo, bought a new home for existing land, and ended with Wells Fargo again. Loans are often sold - in fact, brokers sell all their loans to banks / others that service them (collect payments/report interest paid, etc.)