Financial Advisors Get Mortgage Advice Program

Mortgage borrowers increasingly are seeking advice on costly or complicated loans from their financial planners. At the Mortgage Bankers Association's annual conference in San Francisco, one technology firm touted a deal to roll out its mortgage analysis product to a network of 330 financial advisors. Broker/dealer GWN Securities, Palm Beach Gardens, Fla., has licensed Independent Advisor from Financial Crossing, Palo Alto, Calif., to allow its advisors to help borrowers analyze and potentially restructure their loans. Adrian Nazari, CEO of Financial Crossing, told MortgageWire that his firm has a number of other financial advisors on the platform, and his analysis is that two of three of their clients would benefit from restructuring their mortgages, achieving an average savings of $650 per month. Financial Crossing has affiliated with mortgage fulfillment provider Lydian Data Services, real-time pricing vendor NYLX, and Citizens Community Bank of New Jersey to provide loans to financial planner clients that would benefit from such a restructuring.