Standard Lending Practices

In light of all the turbulent times in the mortgage market, I want to talk about some standard lending practices Professional Mortgage Group, Inc. (PMG) puts into action each and every day. Mortgage Broker's have caught a lot of flack recently for the actions of a few unethical brokers out there. With this being the case, it just makes PMG's set of standard lending practices stand out rather than these practices being the norm for the industry!

PMG's Standard Lending Practices include:

1. We take your application in 1 of 3 ways. Online through our secure application, in person, or over the phone.
2. We promptly process the application and get back with you to discuss options and figures. If for some reason we cannot loan to you, we discuss why and give you pointers on what you need to work on to get where you want to be.
3. A PMG introduction letter and business card are mailed to the prospective borrower.
4. If our customer wants to use PMG, we personally meet with every client and sign disclosures for the loan. All product features, fees, rate, and possible hurdles to overcome during the loan process are discussed in detail. PMG wants no surprises for our borrower!
5. Once you have chosen PMG, a service guarantee is given to the borrower and an real estate agents. This lets you know what to expect form PMG!
6. Your loan is updated on www.pmg-inc.net where you are given a login and password to track your loan. As updates are made, you are emailed the change in status.
7. Phone calls are also placed to the borrower and their real estate agent (if applicable) to keep everyone up to speed.
8. Once the loan is ready to close and we have the HUD, we call and discuss all the details of the loan and what to expect at closing. This way the closing is just a formality! Nobody wants MAJOR questions or issues to be arise at the closing table. This is something to get out of the way prior!
9. PMG makes every effort to attend your closing. If it is a purchase transaction, please know we will be present (unless it is a long distance closing). This makes for a better closing for everyone! If there is a question that comes up or wasn't addressed prior, we are there!
10. Lastly, PMG tracks your loan. We will contact you if it is ideal to refinance or if your ARM is expiring. If only all lenders did this, the problems of ARM's resetting now would not be so severe!

Our goal in implementing these practices is to obtain a "Client for Life"! It is just unacceptable to conduct business in any other way than putting your client first!

It is our hope that these tough times in the industry will weed out anyone who doesn't conduct themselves properly. The ones left standing will then be there to reap the rewards!

Brought to you by:

Professional Mortgage Group, Inc.

"Your Columbia, MO Mortgage Broker"