Protecting the Homes of Our Veterans

Did you know that according to the U.S. Department of Veterans Affairs (VA), over 57,849 veterans are homeless on any given night and about 1.4 million other veterans, meanwhile, are considered at risk of homelessness due to poverty, lack of support networks, and dismal living conditions in overcrowded or substandard housing.

This makes protecting the value of residential home loans for veterans the upmost importance. Sadly, many veterans are at risk for mortgage lending scams.

Recently, I received an inquiry about a loan originator and “local” VA lender.

I was appalled when I looked on http://www.nmlsconsumeraccess.org, to see that this loan originator had surrendered his individual mortgage license in 2009. Unfortunately, I see this frequently, and want to alert others to loan originators who do not have up to date mortgage licenses in North Carolina.

As a result of being unlicensed, the loan originator bypasses the state of North Carolina requirement for licensure testing along with 8 hours of annual continuing mortgage education.

This person was recently hired by a national firm with a small core group of employees located in San Diego, CA, which may include a veteran or two.

They then hire local people in other states with some level of past mortgage experience to pose as local lenders.  Then, they use patriotism to attempt to gain the business of veterans and active military personnel in their area.

What is promised are: a dedicated VA department, 100% cash out refinance, streamline process for VA to VA refinance, aggressive programs to assist veterans, and many years of experience doing VA loans (which may or may not be accurate).

The VA administration sets the parameters and available products for VA mortgage loans. While they are the same for every lender, the difference is in the experience and professionalism of the loan originator.

In many cases, my clients are better served by obtaining a less expensive conventional loan and using their VA benefit in another manner that better serves the veteran and/or their family.

As a small, independent lender with access to over 20 different wholesale lenders who compete for my business, my rates and pricing are very competitive.

Here’s what you need to get started: http://www.davidmdamare.com/buyers.html

“Mortgage Lending is Our Business: Customer Service is Our Passion.”

Stay tuned and stay in touch with your mortgage professional.  Thank you for the opportunity to serve you.
David.  919.851.0999.

Raleigh Mortgage Man, NC Mortgage Man, Triangle Mortgage Man, Triangle Mortgage Expert all owned and licensed by David M. Damare’.  All rights reserved.