Frequently asked questions
How do you work with brokers?
Our relationship with you is based on the needs of both you and your clients. We do not charge you a fee to work with us like some other lenders do. Rather, we speak with you directly to determine the best route to do business together. To find out more on how we can do business, contact an account executive today.
Do I need to be a licensed mortgage broker?
Depending on the state the property is located in, you may be required Real Estate Agent or Broker Licensing to broker the loan. We will advise on the requirements for your states of interest at the time of loan submission.
Can I set my own fee’s on top of yours?
Yes, as a broker you are free to negotiate and charge your client a fee.
What do you need from my clients?
Basic documentation required for your clients is the same as any loan. A purchase agreement, 1003, credit report and appraisal if available.
Do you work with clients directly for items needed or through me?
We understand and respect the relationship between you and your clients, and we do our best to communicate with you at all times. There is minimal direct communication with your client that is needed for approval of loan terms to draw loan documents, as well as the signing of loan documents.
How do I get paid?
Your fee’s are processed through the close of escrow. Once the transaction has closed and there has been confirmation of recording, your payment is processed by Anchor to be disbursed via your preferred method of payment, Check or Wire. If you are in a licence required state your W-9 and copy of your Real Estate Agent or Broker License will be required prior to payment