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Wednesday, October 8, 2003 Metro Brokers Financial promises five-day contract-to-close Metro Brokers Financial has become the first retail mortgage lender in Atlanta to guarantee loan closings within five days of a qualified loan applicant signing a contract to purchase a home. The new program, called “The MBF Express,” also gives purchasers a loan approval within 48 hours. And loan applicants can choose from any one of 18 metro Atlanta locations to conduct the closing. Metro Brokers Financial, the 18th largest retail mortgage lender in metro Atlanta, created The MBF Express in response to the rising epidemic of closing delays and postponements as homebuyers take advantage of the lowest mortgage rates in 40 years. “Homebuyers are fed up with having their closing delayed because of problems in underwriting,” explained Judy Jones, Vice President of Metro Brokers Financial. “We’re the only company in metro Atlanta that guarantees a five-day turnaround.” MBF loan officers can determine if a borrower qualifies for The MBF Express by asking a few simple questions. If the homebuyer is determined to be eligible, the loan officer will only need the borrower to submit three documents to start the 48-hour approval process: A recent pay stub, W-2 and bank statement. Jones likens The MBF Express to the “10 items or less” checkout line at the grocery store. “If you only need a few items, there is no need for you to wait in line behind someone with a shopping cart full of groceries,” Jones said. “It’s the same principle with The MBF Express. Some loans take longer to process than others. We’re simply separating those loans from others that require more time to process. “To our knowledge, no other mortgage broker in Atlanta offers such a quick turnaround time.” Jones’ decision to create an in-house underwriting department several months ago has made The MBF Express a reality. In the past, Metro Brokers Financial had outsourced its underwriting services and that resulted in exaggerated wait times for loan approvals. Now, computer programs quickly tell underwriters whether a borrower qualifies. MBF loan officers are giddy with excitement. “It’s such an awesome marketing tool to be able to tell my clients that we can close on their home in five days if necessary,” said Denise Gines, a loan officer with Metro Brokers Financial. “No other mortgage company in Atlanta is able to tell them that.” Metro Brokers Financial is the 18th largest retail mortgage lender in metro Atlanta. A full-service mortgage company founded in 1990, Metro Brokers Financial is the in-house mortgage company for Metro Brokers/GMAC Real Estate and serves the 20-county Atlanta region through 18 area offices. To learn how your loan can catch The MBF Express, contact a Metro Brokers Financial loan officer at 404-847-2525. The MBF Express: Metro Brokers Financial guarantees it can close qualified loans within five business days of receiving a fully executed sales contract.
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