Generally speaking, a 'direct lender' is a lender who lends his own funds. Some mortgage lenders use this term to differentiate themselves from mortgage brokers, who arrange loans between you and a lender. A direct lender should have control over the loan process from start to finish, but simply being a direct lender doesn't guarantee that you'll get great pricing or great service.
Is it safe to use a direct lender to refinance
Recommended Reading
-
The plumbing in my home is failing. Is there help?
You should first check with your homeowner's insurance company to see how much of any damage might be covered. -
When do you predict the housing market to turn around?
There are already signs that pockets here and there are starting to recover. -
Why didn’t my bank notify me of my reduced HELOC?
If you mean "advance notification," the answer would be "no." -
How do I get answers regarding CAIVRS?
HSH.com's article, “On the feds' deadbeat database? Here's how to get off it,” explains what CAIVRS is, why you may be on it, and how to get off it. -
Can I lower my interest rate without refinancing?
In general, lenders require borrowers to refinance in order to lower their mortgage rate. However, there is another way to lower your mortgage rate without refinancing: a loan modification.
