Mortgages services list

Mortgages

In the developed countries credit brokers are high-grade components of the financial market. Traditionally, banks and other credit institutions realize the products independently. However, as the real estate market becomes more competitive, the role of the credit broker becomes more and more popular. For today in the most developed financial markets (especially in the USA, Great Britain, Australia, New Zealand, Spain and Canada) credit brokers are the greatest distributors of bank products for borrowers.

In the post-Soviet territory countries the given kind of activity has appeared more recently. Now, besides traditional credits, there is a considerable quantity of derivative credit products — letters of credit, demand lines of credit, , bills, credit cards — about which majority of borrowers have not full idea, and, hence, need the help of advisers.
The credit broker — the participant of the financial market who mediates between banks and borrowers in the course of realization of operations of crediting physical and legal bodies.

In the course of work credit brokers cooperate with many financial structures and the companies: banks, the insurance, estimated companies, real estate agencies, showrooms, etc.

Into a complex of the services given by credit brokers enters: selection of the optimum scheme of the crediting, full support of projects of clients, negotiations with creditors.

On the basis of individual arrangements with banks and financial structures, brokers can offer the clients the most favourable conditions on rates below the bank. The profit of brokers is formed at the expense of percent from business deals.

The list of services by the credit broker:

* the analysis of documents;
* an estimation of solvency of the borrower;
* selection of the optimum credit program according to inquiries of the borrower;
* detailed calculation of all accompanying expenses;
* the comparative analysis of schemes of repayment of the credit;
* an explanation of features of crediting in banks;
* recommendations about increase of the status of the borrower;
* formation of a full package of documents for giving in bank;
* the preliminary coordination about possibility of crediting of the borrower;
* application in bank;
* support of consideration of documents of the borrower in bank;
* reduction of term of consideration of the demand;
* drop of risk of refusal on credit reception.

Unfair Brokers

There is big enough category of the persons, wishing to obtain in bank the consumer or automobile credit, without possessing thus ought payment - and credit status. Credit falsification occurs when one or more physical persons deceive financial institution, purposely representing false information . Some credit brokers, bankers, etc. can be involved in illegal crediting.

Most often meeting types of a deceit of the broker are more low listed:


* falsification of the inquiry on incomes, certificates on the property right to actives and other documents;
* an incomplete explanation to the borrower of credit conditions and a policy of bank;
* belief of the borrower refinance* the credit without obvious benefit;
* concealment of percentage compensation or other payments, before signing of the agreement with the borrower;
* influence on the appraiser for the purpose of increase of an estimation of property;
* use in the purposes of absence of experience of the borrower in crediting questions.