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Nexus Financial
Group®, one of the area’s fastest growing
mortgage companies, was recently honored at the National Association
of Mortgage Brokers’ Conference in Reno, Nevada, for their
ground-breaking use of one-hour automatic loan approvals. Company
President Brian Peart was asked to be a keynote speaker on behalf
of Fannie Mae (FNMA/NYSE), the nation’s largest source of
home mortgage funds, and to discuss the company’s use of
this exciting new technology. After being treated to special breakfast
with former President George Bush, Brian went on to explain what
this technology can do for the consumer. “One of the most
exciting features of this system,” says Brian, “is
that it makes it easy to take the guesswork out of the home loan
process with lightning fast pre-approvals. We can get the borrower
fully pre-approved from the comfort of their home or office or,
even better, over the phone in less than one hour!” Brian
goes on to explain how pre-approval (not to be confused with pre-qualifying)
can literally save you thousands when going to buy your home. When
you get pre-approved you actually have a written loan commitment
from the Lender; in a sense, the money to buy the home is set aside
for you. You become the equivalent of a cash buyer. This alleviates
one of the biggest fears of the home seller - that the transaction
will fall apart weeks later because the buyer got denied his financing.
The seller will be much more willing to accept a lower offer if
they know that the loan will close. Pre-approval gives peace of
mind to both the buyer and the seller. The Nexus Financial Group® brokers
carry high powered portable computers, allowing the borrowers’ application
to be taken electronically. The information can be entered anywhere,
even from the comfort of the customers’ home, and is then
uploaded through the phone lines to the main server system at our
Headquarters. Once there, the system sorts the information through
a special “case-sensitive” lender database to determine
which lender provides the most favorable interest rates for that
customers’ particular financial situation. The file is then
electronically transferred through that Lender and on to Fannie
Mae where approval is just minutes away. “The fact that this
whole process can happen in less than one hour is downright miraculous,” says
Brian. “Now peace of mind, great rates and fast approvals
are just a phone call away.”
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