Lotus Mortgage

The Right Service

Customer service is the “proof in the pudding”. We make sure our customer service excels in multiple ways.

We start by making less money than the industry standard. The ultimate customer service is saving you money. The industry standard is to make 2% to 5% on each loan (which may or may not include junk fees, Yield Spread Premium, and Serviced Released Premium… the industry is good at obscuring these statistics). In 2006 we averaged 1.8% and in 2007 we averaged 2%. We keep most loans at the minimum fee, and increase only when we know from the start that it will be a very unusual and difficult loan. If we think it will be straightforward and quote a client a low price, we stick to it even when the going gets tough. We charge less, we make our profit transparent, and we offer you many options in how we make our fee. This ensures that you understand what you’re paying, and what you’re paying for.

Our transparency policy goes through the whole loan. When working with anyone else, you’ll rarely be shown which fees go to whom, often resulting in many different-seeming fees all going to one place: the bank or broker. Your rate will typically be higher than it has to be, in order to allow the bank or broker to receive profit when they transfer or sell the loan. The higher the rate, the higher your interest payments, and the more the loan is worth. Here, you’ll always be offered the lowest rate you can get without a buy-down, selected from several different competing lenders. Then we’ll show you who makes how much, and whether that money is coming from you at closing, or whether any of it is coming from you having a higher rate. And we’ll prove it all!

Last but not least, we’ll close your loan with a reputable lender. We only work with well-established banks who cooperate with us to close your loan on-time or often, earlier than originally estimated.

You’ll pay less for a better loan (see “The Right Loan”, above), and we’ll stay ahead of the curve to get you your new property on time. In this day and age, that’s pretty impressive.