Chicago, IL. (August 23, 2024) — Executive Vice President and National Director of Retail Lending Neil Bader of The Federal Savings Bank was featured in National Mortgage News’ article How one bank is aiding borrowers facing new broker fees.
National Mortgage News highlights how The Federal Savings Bank’s Smart Loan product can help borrowers with new commission fees as a result of the recent National Association of REALTORS® (NAR) settlement.
“In the last six months as this became a hot topic, we realized we could repurpose the loan to satisfy some of the needs of people who have an unexpected buyer’s broker fee,” Neil said.
The Smart Loan utilizes a separate credit pull, comes with fixed-rate monthly payments and doesn’t have a prepayment penalty. Designed to help both buyers and agents, The Smart Loan helps to deepen these relationships as the industry shifts.
Learn more about The Smart Loan from the article at https://www.nationalmortgagenews.com/news/how-the-federal-savings-bank-is-addressing-new-buyer-broker-fees
Contact:
The Federal Savings Bank
Neil Bader
NMLS#1005678
https://www.thefederalsavingsbank.com/leadership/neil-bader/
About The Federal Savings Bank:
The Federal Savings Bank is a federally chartered bank, veteran founded and operated. We are proud to be a nationwide mortgage lender, supporting borrowers in all 50 states. We believe in unparalleled experience, exceptional customer service, operational excellence, and community beyond walls.
This information is intended for educational purposes only. Products and interest rates subject to change without notice. Loan products are subject to credit approval and include terms and conditions, fees and other costs. Terms and conditions may apply. Property insurance is required on all loans secured by property. VA loan products are subject to VA eligibility requirements. Adjustable Rate Mortgage (ARM) interest rates and monthly payment are subject to adjustment. Upon submission of a full application, a mortgage banker will review and provide you with the terms, conditions, disclosures, and additional details on the interest rates that apply to your individual situation.
