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 There is no fee to loan officers to obtain repair setaside estimates. Our contractors pay an annual subscription fee to be in the Contractor Network. This helps to assure that they will be willing and able to assist you to obtain your estimate within 48 hours to close loans as quickly as possible.
Loan
Officers often experience delays in their loan closings after
receiving the appraisal for their loan and discovering that
there are repairs and/or renovations required to be completed
in order to achieve the appraised value and allow the closing
of the loan. This sometimes forces the loan officer to spend
days or weeks to assist their clients by helping to locate a
qualified contractor to provide an estimate for the work that
must be done.
The scenario described above can be very frustrating and time
consuming for Loan Officers. Fidelity Homestead Associates LLC was
established primarily to address and alleviate this situation.
Our Contractor Network is ready and available to provide fair
and complete estimates for the work needing to be done
allowing Loan Officers to concentrate on providing loans.
Fidelity Homestead Associates
LLC often receive inquiries from
our Contractor Member Subscription Network regarding their
clients refinancing their homes in order to complete repairs
and/or renovations.
As an additional service, we
pass these opportunities on to Loan Officers enrolled in our
Loan Officer Registry.
All Loan Officers that would
like the opportunity to participate in this program can
register at our
Loan
Officer Registry.
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