Why we opened 908 Mortgage

The industry has started making big changes lately. With the possibility of the CFPB disappearing and rates rising, the “Direct Lenders” (Bigger Mortgage Companies) cannot compete anymore. We opened 908 Mortgage, Based in Long Beach (zip-code 908) to better serve the Borrower. 

Hello, I’m Troy Barnum. In 2016, after 25 years on the Broker side, I was invited to work with Bay Equity Home Loans, a Direct Lender. The intention was to open my own branch office in Long Beach. This was the first time I have  worked for a Direct Lender.

After 2 years of trying to make it work, I decided to go back to the Broker world. I realized quickly that Direct Lenders had a lot of Bells and Whistles and a Marketing department, A Salary even if you didn't close any loans, Benefits and also CEO’s, District and Branch Managers AND were paying "Desk Fees" to local Real Estate offices to be their "IN-HOUSE" Lender of choice.  ALL had to get paid. Ultimately who paid for all of this? ... THE BORROWER, YOU, through higher rates and costs. That is NOT what we are all about! 

We offer rates at wholesale prices. We do business with lenders who work with Brokers. These Lenders do not have all of the overhead that DIRECT lenders have. Therefore, they will not charge you excessive fees and rates.

If a Real Estate Agent Refers you to their "IN-HOUSE" lender, chances are they are paying a fee to be there which corporate has built in to their rates, which you pay for.  

Give us a call, text or email. We will be glad to sit down with you and find you the right loan program at a great rate.

THE RATES YOU WANT WITH THE EXPERIENCE YOU NEED!