American Security Mortgage

Transparency in Mortgage Banking? - YES, if You're Using These North Carolina Based Mortgage Bankers

Cloudy is not in the forecast if you are using North Carolina based Mortgage Bankers Melinda Rothwell & Brian Trainum to assist you with your home financing needs. Their new website offers an abundance of information helpful to those looking to buy or refinance a home and all of it is presented with a transparency unheard of in banking. To start things off here are 3 things you should watch out for when shopping for home-finance products on the Internet.


Huntersville, NC -- (ReleaseWire) -- 12/10/2010 -- North Carolina Based Mortgage Bankers Reveal 3 Things Online Mortgage Search Engines Don’t Want You to Know!

Anyone who’s even remotely interested in shopping for a home loan has probably paid attention to all those commercials on TV touting the ease of using any of a variety of internet services to compare mortgage offers. You may even have tried a couple of them yourself. But Melinda Rothwell & Brian Trainum, Licensed Loan Officers with American Security Mortgage, say borrowers need to know the following three facts before beginning the mortgage process through one of these companies.

“The biggest thing these companies don’t tell you upfront is that your information is being sold to their clients as a lead. AND USUALLY MUCH MORE THAN ONCE OR TWICE. This is why the people that use these services will get an influx of phone calls after they’ve made the request to be contacted. Yes, you may get multiple offers after you’ve worked your way through multiple solicitations, repeating the same information multiple times. I like to call this the shotgun approach. Using a reputable, local mortgage banker can get you a price comparison specific to your particular needs from a variety of lenders without as much hassle and repetition.”

Two more things you should consider when shopping for home-finance products on the Internet – things most online mortgage search engines hope you ignore:

Many times the people that contact you after you enter your information into these sites can be on the other side of the country. “Lending is harder now than it has been in a long, long time. The importance of being able to reach your mortgage professional by phone, by email, and yes in person, cannot be overstated. A preliminary mortgage disclosure package can need up to 50 signatures. Sitting across from a licensed, local mortgage professional while they explain this information, will only help the whole loan process be more comfortable and easy to understand. It’s also a lot easier to choose from the hundreds or mortgage loans and options out there when the process is completed face-to-face. You also feel well taken care of when your mortgage professional shows up at your closing to thank you for your business.”

What do these online mortgage search engines offer people in special financial circumstances – such as the self-employed or people with damaged credit? “While loans for those in these circumstances do exist, most online mortgage search engines are not equipped to handle these scenarios. So you’ll get more calls from more people that can’t help. Even if your credit is great and you have a large down payment, Lending is hard these days. Add to the mix a potential hurdle (i.e. credit issues, self-employed borrower, use of commission and/or overtime income, recent divorce, relocation), and being able to discuss your needs and concerns face to face is even more important.

So, what’s the solution? Use the Internet to gather information and then work with a real human being. You may not have thought about “old-fashioned” methods of finding the best deal, such as working with a mortgage banker. “But for those borrowers that realize this may be the biggest investment they make, having a real person to sit down with that listens to their specific needs and guides them through an often turbulent and illogical process is amazingly comforting,” says Brian Trainum.

Huntersville, North Carolina - based mortgage experts Melinda Rothwell & Brian Trainum specialize in providing essential and transparent mortgage information to residents of North Carolina. This information allows borrowers to make informed decisions about their mortgage financing options and to learn habits that can save them thousands of dollars over the life of their loan.

Melinda & Brian are available for conversations and welcome all your mortgage related questions.

Call 704-237-1333 for a Free No-Obligation Consultation or visit: