There’s really no such thing. I can call myself a “direct lender”, because my company uses a line of credit to buy loans. And we will sell them within a week or two.
Any major bank could also sell your loan right away, or 6 months later, or never.
Once you take out a mortgage, it can be sold to any licensed mortgage servicer, at any time, with only a short notice period, and you can’t stop it.
So, that being said, quit worrying about finding a “direct” lender, and just find someone you trust to work with. Call a couple banks, a couple brokers, or get referrals from people you know.
1 Response to i’m looking for reviews on direct lending mortgage company please help?
fukinluckyfuker
April 26th, 2010 at 4:49 pm
There’s really no such thing. I can call myself a “direct lender”, because my company uses a line of credit to buy loans. And we will sell them within a week or two.
Any major bank could also sell your loan right away, or 6 months later, or never.
Once you take out a mortgage, it can be sold to any licensed mortgage servicer, at any time, with only a short notice period, and you can’t stop it.
So, that being said, quit worrying about finding a “direct” lender, and just find someone you trust to work with. Call a couple banks, a couple brokers, or get referrals from people you know.