Both mortgage specialists who work exclusively for a bank and brokers serve a valuable purpose in the mortgage industry. Brokers have more options available to customers who have credit issues, other application challenges or for customers who prefer to have access to a variety of lenders.
The advantage of dealing with a mortgage specialist is that they have access to the full suite of products and resources available through the financial institution. The products can be used to restructure debt to increase monthly cash flow to make having a mortgage more affordable, as well; the products can also be used to restructure debt to qualify if the debt servicing is too high.
As a mobile mortgage specialist I work the same hours as brokers and realtors to meet with customers on their time. I am in direct competition with brokers and the rates I offer are competitive to what brokers can offer. I feel it is up to the individual making the decision on whether a mortgage specialist is the right option or a broker. If a customer is simply rate shopping then a broker maybe their best option. If a customer wants the service and availability of products tailored to meet their needs then going with a mobile mortgage specialist who works for a bank would be the best option.
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