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Kelli Sullivan & Renata Murphree
Beachy Beach Real Estate
17500 Panama City Beach Parkway
Panama City Beach, FL 32413
Kelli: 850-819-8246 Renata: 850 527-3923
Email: info@gotbeach.com

Testimonials Page

I am so grateful for Kelli and Renata. They helped me navigate through the process and made selling my home easier than I could have ever imagined. Would highly recommend to anyone in the area looking to buy or sell their home!!  June, 2019 Sara Sullivan
They explained the process and walked us through the sell of our home. They were always available as questions arose, and would offer suggestions to help sell our home. They will have all my beach business.  June 11, 2019 Johnny Bell
Kelli is an absolute joy to work with . She is extremely knowledgeable and walked me through the whole process of selling my condo. I don't think she ever takes anytime off she was right there for me no matter what time or what day I needed her.  June, 2019 Ann Martin
My partner and I was looking for our dream vacation home on the beach and Renata found it on the first shot. She is an amazing agent with high knowledge of the area. She made this search seamless and provided important information in regards to the closing process for condos in Florida (very  different from home, Rhode Island) Over all we can say we made a friend during this journey and we couldn't have asked for anyone else. Thank you Renata. 06/04/2019 - robertstarnino
Originally My family was looking for a condo for a second home in Panama City Beach, but ultimately, we decided to relocate and look for a house for a primary residence. Renata was Fantastic! She listened to what we wanted and showed us exactly what we were looking for every time. We were new to  this, and she was always patient and helpful when we had a million questions about ( closing, financing options, local activities, schools, furniture, etc...) She had an answer for every question we asked and a few we didn't know to ask!  We found a home we loved and closed a month later. I would recommend Renata to anyone interested in property in PCB, she made the process fun and fast! 06/03/2019 - taylorcasey63
Recently just bought my first Condo in Panama City Beach and their knowledge of the area and expertise made the purchase perfect and smooth. Loving PCB. With so many choices out there, its great to have such experienced people to help get exactly what you are looking for. :-) Don't hesitate giving  them a call!  2/20/2019 Brent Brooks
Earlier this year, we hired Kelli and Renata to sell a property in Laguna Beach. We also met with several other top realtors in the area. Kelli is the only one who impressed us with her advice and recommendations to help get top dollar for our property. She does this because it’s obvious she cares for her clients, and isn’t afraid to ask top dollar. During the time the property was on the market, Kelli and Renata were invaluable to us since we don’t live in the area. From meeting our contractor, to ensuring any repair was successfully completed, we really couldn’t have done this without them. Our property didn’t stay on the market very long, and we were happy with the sale. These ladies are rock stars! I would not hesitate to recommend them or hire them again. 09/25/2018 - markfla4
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Types of Mortgage Lenders

Mortgage Bankers

Mortgage Bankers are lenders that are large enough to originate loans and create pools of loans, which are then sold directly to Fannie Mae, Freddie Mac, Ginnie Mae, jumbo loan investors, and others. Any company that does this is considered to be a mortgage banker.

Some companies don’t sell directly to those major investors, but sell their loans to the mortgage bankers. They often refer to themselves as mortgage bankers as well. Since they are actually engaging in the selling of loans, there is some justification for using this label. The point is that you cannot reliably determine the size or strength of a particular lender based on whether or not they identify themselves as a mortgage banker.

Portfolio Lenders

An institution that lends their own money and originates loans for itself is called a portfolio lender. This is because they are lending for their own portfolio of loans and not worried about being able to immediately sell them on the secondary market. Because of this, they don’t have to obey Fannie/Freddie guidelines and can create their own rules for determining credit worthiness. Usually these institutions are larger banks and savings & loans.

Quite often only a portion of their loan programs are a portfolio product. If they are offering fixed rate loans or government loans, they are certainly engaging in mortgage banking as well as portfolio lending.

Once a borrower has made the payments on a portfolio loan for over a year without any late payments, the loan is considered seasoned. Once a loan has a track history of timely payments it becomes marketable, even if it does not meet Freddie/Fannie guidelines.

Selling these seasoned loans frees up more money for the portfolio lender to make additional loans. If they are sold, they are packaged into pools and sold on the secondary market. You will probably not even realize your loan is sold because, quite likely, you will still make your loan payments to the same lender, which has now become your servicer.

Direct Lenders

Lenders are considered to be direct lenders if they fund their own loans. A direct lender can range anywhere from the biggest lender to a very tiny one. Banks and savings & loans obviously have deposits with which they can fund loans, but they usually use warehouse lines of credit for drawing the money to fund the loans. Smaller institutions also have warehouse lines of credit from which they draw money to fund loans.

Direct lenders usually fit into the category of mortgage bankers or portfolio lenders, but not always.

Correspondents

Correspondent is usually a term that refers to a company that originates and closes home loans in their own name, then sells them individually to a larger lender, called a sponsor. The sponsor acts as the mortgage banker, re-selling the loan to Ginnie Mae, Fannie Mae, or Freddie Mac as part of a pool. The correspondent may fund the loans themselves or funding may take place from the larger company. Either way, the sponsor usually underwrites the loan.

It is almost like being a mortgage broker, except that there is usually a very strong relationship between the correspondent and their sponsor.

Mortgage Brokers

Mortgage Brokers are companies that originate loans with the intention of brokering them to lending institutions. A broker has established relationships with these companies. Underwriting and funding takes place at the larger institutions. Many mortgage brokers are also correspondents.

Mortgage brokers deal with lending institutions that have a wholesale loan department.

Wholesale Lenders

Most mortgage bankers and portfolio lenders also act as wholesale lenders, catering to mortgage brokers for loan origination. Some wholesale lenders do not even have their own retail branches, relying solely on mortgage brokers for their loans. These wholesale divisions offer loans to mortgage brokers at a lower cost than their retail branches offer them to the general public. The mortgage broker then adds on his fee. The result for the borrower is that the loan costs about the same as if he obtained a loan directly from a retail branch of the wholesale lender.

Banks and savings & loans usually operate as portfolio lenders, mortgage bankers, or some combination of both.

Credit Unions usually seem to operate as correspondents, although a large one could act as a portfolio lender or a mortgage banker.

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