InterFirst Unveils Broker Packaging Tool

InterFirst Wholesale Mortgage Lending, Ann Arbor, Mich., has announced the introduction of OneFee "Pricing Tool Only," which is designed to help mortgage brokers create their own guaranteed mortgage packages.The tool, an expansion of InterFirst's guaranteed OneFee mortgage package program, allows brokers to create their own unique guaranteed mortgage packages using local settlement service providers. The broker picks his or her own provider and negotiates the associated settlement service cost. Previously, the broker was subject to third-party service providers and costs negotiated by InterFirst. Mortgage loan costs are based on InterFirst's wholesale mortgage products and interest rates, and they incorporate the lender-related costs in the price quote. By using the tool, the broker assumes the risk that may be associated with guaranteeing the mortgage costs quoted to consumers at the time of application. InterFirst is a division of ABN Amro Mortgage Group, which can be found online at http://www.mortgage.com.