Question:

What is an Upfront Mortgage Broker (UMB)?

Answer:

An Upfront Mortgage Broker (UMB) differs from a regular mortgage broker in that they deal with borrowers in a truly open and ethical manner. You can locate an Upfront Mortgage Broker through the Upfront Mortgage Brokers Association.

Upfront Mortgage Brokers' Advantages

UMBs make known their fees as well as the wholesale rates to the customers upon application, they shop loans on customers behalf. They are not going after the largest markup, do not let the rate float after the borrower requested a lock, and do not charge the same rate if the rate actually dropped.

With a Upfront Mortgage Broker, borrowers can be assured that they will receive the best of value for their money - in terms of loan rates and services. Also, borrowers are going to receive reliable counseling and advice how to better qualify for a loan.

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