M2. Bond Originators

It is no secret that a professional bond originator can get you a better deal, than dealing directly with lenders.

Bond Originators or Mortgage Brokers act as an intermediary who sources mortgage bonds on behalf of individuals or businesses.

These services are absolutely free to clients. 

Traditionally, banks and other lending institutions have distributed their own products. However, as the market for mortgages has become more competitive, the role of the bond originators has become more popular.

In competitive mortgage bond markets, many lenders use an array of rate offers and other incentives to attract customers. To many consumers, due to their infrequent purchases of home loan products, the mortgage market may appear confusing and somewhat daunting.

Bond originators can guide clients through the process of selecting a suitable home loan and offer mortgage and property-related financial advice.

For borrowers with poor credit records, or other unusual circumstances, finding a lender may be difficult.

Bond originators, having specialised knowledge and multiple lending sources, become a valuable resource in obtaining financing. Bond originators receive a fee from the banks and not their clients. The sheer volume of business provided by bond originators to the banks gives the originator negotiating power to muscle low home loan rates for their clients.

Usually, the bond loan process is much quicker when using bond originators.

You should be wary if a bond originator asks you for fees or charges to your clients for services.

  1. Common Duties: Bond Originators
  • To assess the market and offer the mortgage bond product that fits the client needs at the lowest possible interest rate.
  • To obtain a pre-approval by applying for a lender’s agreement in principle.
  • To gather all needed documents (payslips, bank statements, etc.).
  • To assist the client in completing the lender application form.
  • To explain any legal implications to the client.
  • To submitting all material to multiple lenders.

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