Log In  |  Contact Us  |  Help
Apply Now
Select a loan application:

GO

Using a Mortgage Banker?

Independent mortgage bankers have had a significant positive impact on the lending industry. Today, the use of a professional mortgage bankers is one of the key strategies used by sophisticated borrowers.

What is a Mortgage Banker (Correspondent Lender)?

A mortgage banker is an independent real-estate financing professional who specializes in the origination of residential mortgage loans. Mortgage bankers normally fund loans in there name while transfering the service to correspondent lending sources. A mortgage banker is also an independent contractor working with (on average) as many as 5-10 lenders at any one time. By combining professional expertise with direct access to hundreds of loan products, your Loan Officer provides the most efficient way to obtain financing tailored to your specific financial goals.

What Do Mortgage Bankers Do?

In the volatile home-lending market, mortgage bankers can serve as safeguards, offering their clients security, safety, and peace of mind. One of the banker's most important functions is escorting your loan application through the entire process, constantly patrolling the component transactions for possible breakdowns. A professional mortgage banker can wade through the mountains of rate data and program options, researching current market conditions to find the most accurate and up-to-date information about cost-effective loan options.

Banker's Handle the Details!

There are literally thousands of variables that can affect the outcome of your mortgage transaction. That's why you need a mortgage banker to act as a liaison between the title and escrow company, real estate agent, lender, appraiser, credit agency, the underwriters, the processors, attorneys, and any other services which may affect your transaction.

A mortgage banker also:

  • Discusses and explains financing program options
  • Informs you, in writing, of lock-in options
  • Explains all documents of the loan application
  • Explains all associated costs of the loan application
  • Explains the disbursement of all loan applications
  • Explains the loan process, from application to closing
  • Provides you with a good faith estimate of cost and fees
  • Communicates with you throughout the loan process in a timely manner
  • Coordinates the final closing of your transaction
BAY CAPITAL MORTGAGE CORPORATION NMLS ID# 39610 (nmlsconsumeraccess.com)
801 COMPASS WAY, SUITE 208, ANNAPOLIS, MD  21401
Office:  (410) 974-6044
Fax:  (410) 500-4584
compliance@baycapitalmortgage.com
Copyright © 2017 BAY CAPITAL MORTGAGE CORP.
Maryland License #2998
Virgina License #MC-5543
Privacy Policy  | Security Statement  |  Site Map