Wholesaler for Would-be Originator?

[moneybags]

We recently had negotiations with a mortgage wholesaler to become an originator/manager fall over when the principal decided his back office couldn't cope.

Can anyone suggest any wholesalers that I could approach?

(My apologies if this is considered inappropriate on this forum, but there are obviously some very knowledgeable people here...)

 

[Rolf Latham]

Hiya

Interstar, AMS, Origin, etc all have wholesale programs.

Whats the focus for using an originator rather than balance sheet lenders ?

ta

rolf

 

[moneybags]

Hi Rolf

Thanks, tried Interstar, but don't have req'd 4 years in the industry.

What's a "balance sheet lender" please?


MTIA

 

[Rolf Latham]

Hi Max

A balance sheet lender is one that doesnt use other peoples money and at 80 % LVR carries their own risk.

This includes most major lenders and some wholesalers such as Origin
ta

rolf