Veitengruber Law and the Mortgage Broker: How We Can Help You

Last week in our “Veitengruber Law and the Professional” series, we discussed the ways in which bankruptcy attorneys and divorce lawyers can team up to help clients more effectively.  This week, we take a look at the mortgage broker or banker who is faced with a difficult scenario: a potentially qualified borrower…..with credit issues. Many times, you are forced to deal with rejections of potential borrowers by your underwriting department, based solely on some past credit issues that may be showing up on the borrower’s credit report at the time of application.  This can be very frustrating if the borrower meets all other qualifications easily, has the money ready for closing, and seems like a shoe-in for a loan.

Mortgage brokers sometimes get a bad reputation, but we know that most of you really do want to help the qualified borrowers that you come into contact with. You come face to face with their struggle to get a loan or to hold on to their house after a divorce, and you know that they qualify in every way for a loan other than a marred credit rating. This may have been caused by mistakes in the past, a difficult divorce, a previous job loss that was out of their hands, starting their own business, or something else that has now receded into the past and is no longer relevant.

By all appearances, this client presents a great opportunity for you to earn a great commission and also help a qualified applicant who is in need of a loan. When you pull their credit report and find that their credit history is “less than ideal”, this will no doubt put a damper on your initial enthusiasm.  But have no fear – Veitengruber Law can help you in this type of situation! We specialize in credit repair and can take that client’s credit history, get it back on track, and send him/her back to you with a better credit report, a higher credit score and a better chance at that loan.  It should only take us several months to get your potential borrower up to snuff because we have the means and the experience to legitimately and lawfully raise your client’s credit score by 100 points or more in a relatively short period of time.  We can easily get them into the range of what is considered acceptable by your underwriting team.

Having us on call when you are faced with clients who need some credit help before being approved for a loan will benefit you in several ways.  First, you will have the peace of mind of having Veitengruber Law to turn to when you need quick results for an otherwise totally viable loan applicant. You will have the satisfaction of knowing that you have a solution to offer to your potential borrowers who are quite upset at the notion of being rejected for a loan. Helping people in their time of need is an incredible feeling, and having a partnership with us will make helping them that much easier.  Not to mention, you will not lose the potential commission due to a numbers game, which means that everybody wins.

Image Credit: Philip Taylor

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