Florida Mortgage Blog

Here is a little video I put together that points out some of the many advantages that I enjoy as a Mortgage Broker for Gulf & Western Mortgage .

Many of these advantages have to do with the changes in the actual process of submitting your loan to an underwriter. The process is basically reversed compared to the banking side.

At a bank, an underwriter will look at your file around the 30 day in process. On the broker side, an underwriter is giving us a conditional approval on day 2. It is nice to know where you stand even before you go spend money on an appraisal.



(Click on Logo to play)

Posted by Preston Ware on October 12th, 2017 9:35 AM
The 1% down Program is still available.
Recently Freddie Mac pulled the reins on the Home Possible Program but Fannie Mae still has the Home Ready Program.

The Home Ready has always been ready with less income limits.
Here is a little video that I prepared talking about this program and a loan we closed last month.

There are certain guidelines restrictions such as credit score and loan to value so please give me a call at 561-329-0075 to see if this loan program is right for you.
Posted by Preston Ware on October 6th, 2017 12:04 PM

So far 2017 has been a good year for Real Estate. Fair market conditions, a little bit of a sellers market because the lack of inventory continues in some areas.

Here is a nifty little presentation put together by one of my favorite sources.

Just another reason why I say Brokering is better than Banking

Posted by Preston Ware on March 8th, 2017 1:25 PM

 Once again the Town of Lake Worth had a successful Street Paining Festival.

Lake Worth east is such a fun area. There is always something going on.

I took the liberty of taking a few photos this year.

If you would like to learn more about the very cool town of Lake Worth, visit my

LakeWorthMortgageBanker page.

Posted by Preston Ware on February 27th, 2017 9:53 AM

Nowadays, I call myself a West Palm Beach Mortgage Broker with over 23 years experience helping happy clients all over the state of Florida. 

During the last 5 years, I called myself a West Palm Beach Mortgage Banker helping happy clients all over the state of Florida.

At the beginning of 2017, I decided to move over to brokering again and I am happy to say things are going very well and I am very glad I did.

There are several reasons why I made this decision .

There #1 reason is that I am able to move the file quicker. It is no fun if I have every one in the transaction yelling at you if something is running late. It is a lot of fun if I am ready and I am waiting on a title company or an HOA because I moved so fast.

Whenever possible I like to deal with the #1 wholesale mortgage lender in the country. They have unbelievable pricing, service and technology which in turn allows myself to offer wonderful prices, service and technology.

My first three loans of 2017 took 14 calendar days, 14 calendar days and 17 calender days respectively. Back in the old days of banking the target was 45 days. With the new TRID guidelines that became even harder. My current sources do the TRID documents during the process.

In addition to dealing with the largest wholesaler we have specialty niche sources that go a little further than your typical banking channels. Currently I have a special niche FHA source that can accommodate credit scores as low as 550.

The last major advantage of Brokering over banking is documentation. Documentation on the client is much easier than if you are going to a bank. A bank tends to over document because they will need to sell that loan on Wall Street after you close. If you are sending your documentation to the source that ultimately will service your loan, they can cut corners if they want. Sometimes they do in the name of service.

Preston Ware

Mortgage Originator

561-329-0075

NMLS #216170

www.Prestonware.com

gulf and western



Posted by Preston Ware on February 24th, 2017 2:52 PM

I have just made the transition from mortgage banking for the last 5+ years , back to mortgage brokering and I like the move. I think it is exciting and good and I am happy to say that I think it is good.

There is not much difference in products and pricing except for a few niches but primarily the difference between the two is the ability to give the customer the easy, friendly service.

So far, I see the process a little simpler on the brokering side with less items needed for underwriting. The process seems to have less hurdles because the philosophy is to give a conditional approval asap whereas my old mind set was that I would get that in 30 days. Since the source will ultimately service the loan, they can be a little more lenient then say a banker who has to sell the loan after closing.

Today I received a very nice conditional approval, after my customer signed on line initial disclosures just Tuesday. (Today is Thursday.)

I am subject to clear title, a good appraisal a better ID and two other conditions.

Not bad, I would say,

Amazing!

Posted by Preston Ware on January 12th, 2017 10:03 PM

I think this is interesting. I have run this site for over 4 years now and am use to the traffic. Most of last year I was getting about 25,000 page views a month. But I noticed that after the 1st of the year when I officially became a mortgage broker again, the number of page views increased to approximately 30,000 a month and counting.

Very good traffic!

The primary advantage of being a mortgage broker again over a mortgage banker is speed. The platform that I have now is faster and saves the borrower closing costs as well. Ask me about this.

Normally I will be your sole point of contact from beginning to end.

If you are dealing with a larger lending institution you will most likely be transitioned from one department to the next...

Posted by Preston Ware on January 10th, 2017 9:23 PM
As we start the new year we still are at the end of the year range interest rate levels but slightly improving. Here is a video that I made that explains what happened to interest rates after the election.

When interest rates rise they usually go up quick and come down slow. So far in 2017 ,they have been edging back in our favor.


Posted in:interest rates and tagged: mortgage trends
Posted by Preston Ware on January 6th, 2017 4:53 PM
Here is my latest video providing some sort of a home buyer seminar. I would like to think this is helpful to Realtors as well as customers considering refinancing.



As always the best way to get a hold of me is my cell: 561-329-0075 or email me at Preston@prestonware.com

Posted by Preston Ware on August 11th, 2016 9:13 AM


I am happy to say that I had 800 page views today and about 28,363 page views in the last 30 days but as always, the best way for me to help you is to give me a call directly and have a conversation about your goals. (561-329-0075). We will have a conversation about what you are trying to do and then I will email you a detailed estimate of what the financing should look like. Once I have the estimate in front of you, we can look a little deeper into your loan and get the details of you as a borrower and what you need to document your mortgage and succeed in finding the home that you are looking for.
Posted by Preston Ware on August 10th, 2016 8:14 PM

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