Financing in Rockbrook>Question Details

Scott Francis, Real Estate Pro in Omaha, NE

Omaha agents: Im curious who do you use for your mortgage loans? I know with the QM rules taking effect going to be tougher to get loans

Asked by Scott Francis, Omaha, NE Wed Jan 8, 2014

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7
I've used Michael Petrovich with The Private Mortgage Group (402) 305-4824 for a few years now. I highly recommend him!
1 vote Thank Flag Link Wed Jan 8, 2014
I know and am good friends with him he's a good LO
0 votes Thank Flag Link Wed Jan 22, 2014
Scott, I use Pete Coen at the Private Mortgage Group. I have worked with Pete for 4 years and he has been wonderful to work with. He is very up to date on the mortgage market and works very hard for my clients. Yes, there are new updates in regards to loans and Pete took the time to sit down with me to update me on what we need to do to make sure my clients are informed. Give him a call at 402-968-8946.. Good luck and do make sure you are pre-approved before you start looking for a home.
0 votes Thank Flag Link Wed Jan 22, 2014
I would be happy to chat with any of you about per-approving your clients. Contact me ddodge@natresdirect.com 402-312-9775 Or check out my website. There is an apply now button that makes it very easy to apply. Have your customer choose my name in the drop down box. I will contact them within a reasonable time. I look forward to working with you.

We are also having our open house next week. contact me.
National Residential Mortgage Center
8720 S 114th St.
0 votes Thank Flag Link Thu Jan 9, 2014
We are in Omaha and work directly with Fannie and Freddie.
Flag Thu Jan 9, 2014
Website is http://www.debradodge.com
Flag Thu Jan 9, 2014
Hi Scott!

My name is Stacy Thorne. I am with Franklin American Mortgage Company. I have been financing homes in the metro area for 24 years and have been blessed to have great relationships with many of your Deeb collegues. I would love to visit with you more. We are more than prepared for the QM rules!

Can I call you to set a time to come to your office?
0 votes Thank Flag Link Wed Jan 8, 2014
The smaller lenders who do not sell directly to Fannie/Freddie/FHA are going to be the ones hurt here. Although those loans will be exempt from the 43% DTI rules, they are not exempt from the QM rules regarding the cost of loans.

What this means is that if they are brokering these loans, the brokers will be limited in their ability to pay compensation, otherwise the cost of the loan may exceed the 3% ceiling put in place by QM. Probably won't affect larger loans, but smaller ones will definitely suffer.

Uncertain times for the small shops out there. Glad I'm on the other side of the fence

Tony

Tony Grech | Mortgage Loan Originator | NMLS 977416
PMAC Lending Services, Inc.
Toll-free (855) 642-4762 | Fax (248) 595-7130 | Direct (248) 728-0078
tony.grech@pmac.com
0 votes Thank Flag Link Wed Jan 8, 2014
Scott,

Anything that is sold to Freddie, Fannie, and Ginnie should stay business as usual they are exempt from QM (at least for the next seven years). That is unless lenders add overlays. The loans that will be affected are non conforming loans portfolio loans etc. Most of them were already at 43% DTI anyway.
0 votes Thank Flag Link Wed Jan 8, 2014
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