1. How is the mortgage market in general at this moment , especially in Los Angeles? The mortgage market is really good at the moment for Prime borrowers (consumer with good credit scores).  Since the Federal Reserve have lowered their interest rates, I’ve been getting alot of calls from my past clients looking for a rate and term refinance.  Our company have been experiencing alot of purchase loans as well due to the declining values of homes here in California.   2. How has the underwriting changed from 1 year ago and now? Underwriters are more careful now and take a longer time to underwrite files.  Lenders are spending alot of time verifing all informations, such as employment, assets, and appraisal.    3.  What type of customer is the lender looking for? The lenders now are looking for customer with good credit and have alot of equity.  Alot of lenders are not offering second mortgage anymore.  There are still 95% loans but the rates are very high.    4. Have any of your customer default in the mortgage? How do you help them to resolve the mortgage issue?

 None of my customers have defaulted on their loans.  When I structure a loan for my customers, I make sure they can afford it.    5.  What makes you apart from other mortgage broker? What sets me apart from most of the mortgage broker is that I understand my business is heavily base on referals.  To keep my customer happy, I put in a lot of time and effort putting together several customized loans that will fit their unique financial situation.  I give them options and explain the pros and cons of each program I present to them so they can make an educated decision.  I periodically followed up with my clients once the loan is closed to give them updates on the mortgage market and to see how they are doing with the loan.      
Anthony Tran
Transcend Mortgage and Reatly, Inc.
p: 626-274-7126
f: 626-270-4140