COBALT FINANCIAL CORPORATION, California Broker ID No. 01821025

Cobalt Financial not only demands impeccable professional standards of its highly experienced loan officers, but also it offers optimal access to the largest array of top-notch lenders, which confers a competitive advantage for our clients.

For the clients' benefit, I provide: (1) a tight screen capture from a from a wholesale lender's rate sheet to give you an idea as to where rates and corresponding rebates are, as well as (2) an "Initial Fees Worksheet," that details all the typical loan fees associated with the particular type of loan that I recommend for your specific loan circumstances.

For my benefit, I require NO money or contract to engage in my services, but I hope that prospective clients are mindful of the time investment involved in preparing an excellent loan case to underwriting; particulary, in the recent unprecedented highly scrutinizing banking climate.

In 2010, I think most loan officers use similar software and technology. But something that is a new trend this year is that many are abandoning their "free agent" mortgage broker status, so that the can become "branch managers" for a particular lender. For me, if I can't shop wholesale rates and be the "consumer's advocate," in the loan process, what then is the point of being a broker?

So, why are many of my colleagues going in this direction? Two reasons:

(1) Lenders (e.g. banks, credit unions) do NOT have to provide the same level or volume of disclosure paperwork. For example, they do not have to reveal their "YSP" rebates that collect on rates (or "SRP," which is the lender side equivalent of "YSP").

(2) In California, loan officers of lenders do not have to pass the state or federal license tests.

I will not lock a loan until you have approved the rate. Again, I always share a tight screen capture of the wholesale rate sheet to give the client the full option as to how they want to pay my fee.

How long to keep the rate float window open is completely up to you and your needs--you are always in the driver's seat--but I will no doubt offer my recommendation on the topic.

The ONLY FEE that is paid before the closing of escrow is the home appraisal fee, which is paid directly by the client to a third-party appraisal management company (usually by credit card). Typically, a single family residence will be under $500.

If you believe, as I do, that an"upfront mortgage broker" ought state his or her typical fees on this website--whether negotiated or not--please scroll down to the end here to view mine:

I work extremely hard with my clients to get an amazing deal by shopping rates among many lenders, and I take tremendous pride in ensuring that the loan package that I put together on my client's behalf has the highest possible chance of closing.

My clients ALWAYS get superb personalized service, and they reward me with excellent recommendations that keep my business thriving.

For the privilege of directly sharing the wholesale rate sheets without markup ("YSP"), my standard fees are typically as follows:

1% of loan amount, plus reimbursement for $695 for a loan processing, $695 for my Cobalt admin fees, and that is it--no other fees or hidden compensation.

If you opt to do so, the broker fee can usually be financed by rolling it into the loan amount (as opposed as to being financed by paying a higher interest rate).

Consumer advocate, paralegal, former small business owner, as well as passionate about closing every deal at an enviably low interest rate.