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Organization Affiliation
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Licensed Mortgage Broker- FL department of Financial Regulation
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Contract With Client
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Montvale Mortgage, LLC uses a standardized industry form known as a "Broker Fee Agreement." This agreement clearly spells out, in the "upFront" tradition, all of the fees that Montvale Mortgage, will earn from the proceeds of your loan. It is all there for you to see in black and white.
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Technology Employed
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Montvale Mortgage, LLC utilizes only the latest in cutting-edge tchnology. We employ the industry standard, windows based, loan origination software known as Calyx Point. Additionally we have ultra high speed internet provided by AT&T through their premier T1 internet service. In order to get files and documents to the lender in quickest means possible, we purchased a high speed scanner. This scanner has allowed us to virtually do away with the slower, and older fax technology. Basically, if it helps us, and helps provide our custumers with an increased level of service,
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Locking Procedures
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Montvale Mortgage, LLC provides up to a 60 day complimentary lock. You, the customer, can lock at any point in the loan process. You are in complete control as to when to lock. Upon locking your loan you are provided with a legal document known as a "Lock-In Sheet." This form comes directly from the lender, and clearly illustrates your interest rate, the lock period, the type of loan, and the loan amount. Without this form your loan IS NOT LOCKED. Don't be fooled be verbal locks. They are only that, heresay. It is all there for you to see in black and white, UpFront, the way it is supposed to be.
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Third Party Fees
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ALL lenders have four basic fees. First is an underwriting fee ($495-$895). This fee is simply for the lender to verify that everything is true and correct in your file, and to underwrite your loan.
Second is a tax service fee($81). This is to notify the lender when the taxes are due.
Third is a wire transfer fee ($35) to overnight the funds into the closing agents account to dispurse for you.
Fourth is a flood certification fee ($13). This certifies to the lender that you are either in or not in a federal flood zone. If you are in a federal flood zone, you will be required to get flood insurance.
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Broker Fees
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Credit Report: $7.98 for one borrower, $15 for two borrowers
Application Fee: $465
Processing Fee: $250
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Bio
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The whole purpose of my professional career has been to help people. Originally I had intended to become a physician, but my grades in college left me a little short of getting into medical school. It was at that time that I discovered the mortgage industry, and changed the way that I would eventually help people. Over the last twenty years of originating mortgage loans, I have helped thousands of people purchase homes for the first time, buy second homes, and vacation homes. Additionally I have helped many people get back on financial track through creative means of debt consolidation, bankruptcy refinance, and foreclosure bail out. My customers include people with good credit and also those with slightly bruised credit. I can do loans on 1-4 family properties as well as mixed use and commercial. I am a responsible business owner who does good business.
The biggest compliment one can recieve as a loan originator is a refferal from a past client. I am proud to say that 100% of my business is derived from refferals. I look forward to working with you.
When you call, ask for me, and I will handle your loan personally.
Sincerely,
Bruce Hirschfeld
President
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