Borrowers fill out forms and we forward via fax a 1003 just as outlined above, except all applications go to you regardless of your other participation in the network. Brokers or lenders without a web site recieve the biggest free-bee of all. No cost, no risk, no design fees, no monthly fees. When participating in any form of these services you pay only for 1003 applications generated and even those costs may be offset . Referrals into the system provide these credits.
Most referrals fall into one of two categories.
Either the lead may be a potential mortgage customer for another lender, or the lead can not be funded at all because of LTV, other credit issues or foreclosure. Mortgage leads may be forwarded as simple email or full 1003 applications and will go to another lender. Un-fundable borrowers cases go for review at American Mortgage Debt Resolution, Inc. where they will attempt to solve the debtor's problems and return them to the lead source if a loan becomes possible. These leads may be made as simple email or the originator may work with the client to fill out the information needed for the American Mortgage Debt Resolution, Inc. client intake form. American Mortgage Debt Resolution, Inc. will request and evaluation fee from the client which will be used as a credit toward a number of services which may help resolve their debt issues.