What wholesale lender can close loans the fastest?

JackD77

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Apr 1, 2014
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I figured that a wholesale lender would be the most efficient place to turn to when it came to a mortgage, because they are lenders that deal strictly with mortgage borrowers on a primary basis.

I came across this website through another person though and thought I could get some answers to some details I may not know about. My question is straightforward, and is exactly what I ask in my title. Do any wholesale lenders close within a specific time period 100% of the time, maybe within 30 days?

I've seen some people claim that their wholesale bank closed exactly within that time period, but I can't be sure if this is only the case sometimes or most of the time. What factors go into deciding this time frame as well?
 
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Moe Bedard

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Wholesale lenders mainly deal with mortgage brokers and lenders. I have been working with various mortgage brokers and loan officers for many years now and they often share their lender stories with me.

A fast closing depends on many factors, but a lot depends the 3 main factors which are #1, the loan officer - #2, the borrower and #3, the lender. If anyone of these entities drags their feet or misses a step, it can cause delays and even kill the loan. However, if both the loan officer and borrower have all their documentation, have dotted their i's and crosses their t's, then it will be up to the lender who will be the link who makes this process fast or tedious. Some lenders are easier than others, and some not so easy.

Here are some wholesale lenders who I know close fast and are fairly easy to deal with:

Stearns Lending, Inc. Costa Mesa office

United Wholesale Mortgage (UWM)

Freedom Mortgage

Provident Bank

Flagstar Bank
 

JackD77

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Apr 1, 2014
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I can't begin to thank you for the information you provided that I've been searching for for months now. I'll take a look at those lenders! Do any of these specific lenders deal with VA mortgages by any chance?
 

Moe Bedard

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Loan Safe Mortgage
Aug 10, 2007
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I think you are a bit confused Jack. Again, wholesale lenders deal only with mortgage brokers and loan officers, not consumers. You need a lender who is not a wholesale lender. Hence, none of the lenders above can help you unless you are a mortgage broker or loan officer.