24/7 Real Estate Loans offers daily wholesale rate sheets from over a dozen wholesale mortgage lenders. They are being provided by us so that you can make the best informed decision concerning a home loan. We believe that the more information that the borrower has at their disposal the better loan they will be able to obtain.
What Are Wholesale Rate Sheets?
Rate sheets are tables of interest rates and points prepared by a mortgage lender. The prices are those the lender is willing to accept at the time the sheet is distributed. Think of a wholesale rate sheet as being equivalent to the auto dealer’s invoice for a new car.
Who Gets Rate Sheets? When and How do They Get Rate Sheets?
Each morning, retail mortgage lenders distribute rate sheets to their loan officers employees, and wholesale lenders distribute theirs to all their approved mortgage brokers. The prices are good for the day, unless they are replaced by a new rate sheet (i.e. reprice) issued later in the day. Rate sheets are usually distributed over the internet or by email.
Do Borrowers Get to See Rate Sheets?
Borrowers seldom see them. Keeping such critical information under wraps gives the loan provider a negotiating advantage. In addition, rate sheets are quite complicated, and few loan providers want to take the time required to explain them. This is especially true of mortgage brokers, who receive different rate sheets, no two of them alike, from every wholesale lender with whom they do business.
Please read How To Read A Wholesale Rate Sheet
Wholesale Rate Sheets
At 24/7 Real Estate Loans, we have access to wholesale rate sheets from some of the top wholesale mortgage lenders including JMAC, US Bank, ING and many more. . .
To see wholesale ratesheets from all the lenders please go to the Wholesale Mortgage Lenders.
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