Is The Emery Federal Net Branch Program The Best?
Each Emery Federal Net Branch has to pay a Per File Fee that is significantly greater than
our fee of $495 per file. In fact, they have a fee that is equal to the greater of $500 or 10% of the
lender's check. So if the total lender's check is $7,500 then Emery FCU will take $750. Additionally
they charge you a quarterly fee of several hundred dollars. When everything is said and done you will
pay significantly more than with our program.
In a direct comparison we have many more approved lenders. However, Emery is approved with a sufficient number of lenders for you to conduct business if you chose to use them. We still believe that having access to more programs is an advantage worth having in today's market. This is why we also offer Loan Modification, Debt Settlement and Loss Mitigation programs whereas Emery does not. For many brokers having programs that reflect today's market is essential; this is why we offer such programs to you. For this reason we offer you full access to FHA and VA programs. Emery Federal Credit Union does not offer FHA or VA programs. What they offer as an alternative is usage of the 'Advisors Program'. This means you can refer your FHA loans to them and they will pay you a maximum of 1.5 points for referring the file (if they can close it). So if you have FHA files you must relinquish control over the file and your fees are capped at 1.5 points.
This company does not offer any benefits to you in terms of health insurance or 401K programs. All in all we think you'll find that we provide a much better alternative to Emery FCU.
In a direct comparison we have many more approved lenders. However, Emery is approved with a sufficient number of lenders for you to conduct business if you chose to use them. We still believe that having access to more programs is an advantage worth having in today's market. This is why we also offer Loan Modification, Debt Settlement and Loss Mitigation programs whereas Emery does not. For many brokers having programs that reflect today's market is essential; this is why we offer such programs to you. For this reason we offer you full access to FHA and VA programs. Emery Federal Credit Union does not offer FHA or VA programs. What they offer as an alternative is usage of the 'Advisors Program'. This means you can refer your FHA loans to them and they will pay you a maximum of 1.5 points for referring the file (if they can close it). So if you have FHA files you must relinquish control over the file and your fees are capped at 1.5 points.
This company does not offer any benefits to you in terms of health insurance or 401K programs. All in all we think you'll find that we provide a much better alternative to Emery FCU.