We have heard all the commercials and seen all the ads for Mortgage Companies promising the "Best Rates" in the industry.

The biggest question that any consumer has when "Shopping for the Best Rate" is whether or not the advertisement or the "Mortgage Professional" that you talk with is truly offering you the best rate!

To give you a better understanding of how things work, or even to just remove the basic confusion of the mortgage industry, we would like to explain, in minor detail, how your "Professional" gets paid!

There are two main types of providers in the market place……

1. Bankers

They use their own portfolio of investments to fund their loans. This is your typical community bank or national branch locations. They are using their own dollars to fund your loan request. Most bankers have very strict guidelines and documentation they request in order to process your loan.

Depending on their loan size, they may sell or transfer your loan to another lender shortly after closing so they can free up those dollars to lend to another potential client. The loan officer who takes your application and documentation, before sending it to the underwriting department, does not have to be licensed by any regulatory State or Governmental body because the bank in which they work for has all the appropriate designations……

We find this interesting since they are a bank. Logic dictates that the need to be licensed and governed.

2. Brokers

This is probably the most common type of Loan Professional out there. Every Loan Officer that works for this type of lender is State licensed and has educational requirements required by the State to assist you in finding the right lender for your specific situation or needs. They can use multiple lenders and multiple product lines to help you achieve your dreams.

As we mentioned earlier…

This is only a minor insight into the two types. Bankers can often broker out loans for a better fit, however this can quickly become confusing to understand by the consumer.

Either way, both types make money on your loan by charging "points". These are additional "bumps" to your interest rate that the lender will charge you to make more money. Then you also have to worry about "Origination Fees" that are points charged upfront, often called the "front end" and are not part of the points charged on the "back end".

Now, I know we would all agree that everyone needs to make a fair wage for fair work, however, those who create a bad reputation in the community have us concerned at CMA Financial Corporation.

Because there are too many variables to list and there is no way we can police the industry, we have decided to limit our relationships to those companies that we can PERSONALLY RECCOMMEND.

Here at CMA Financial Corporation we have a select group of Mortgage Companies that we can refer you too, these companies have displayed the professionalism and caring attitude that mirror us here at CMA Financial Corporation.

When looking at our preferred lenders, it is important to understand that CMA Financial Corp. does not have any interest in the profits of these companies. Therefore, we can honestly say they have demonstrated the same values and morals as everyone on our staff. We only offer you the suggestion to give them the opportunity to help you achieve your dreams, and listen to the professional when they make suggestions.

Always remember, we are here to help guide you through the process, and will always give you insightful information to make sure you are making the right choice.

Thank you for giving all of us the opportunity to assist you in your race to the American Dream!

CMA Financial Corp.
Executive Team