Benefits of Using a CalPERS Lender
December 18, 2009

Benefits of Using a CalPERS Lender

CalPERS is the acronym that stands for California Employees’ Retirement System.  As a part of this program are various opportunities specific to investments, one being real estate.  Under this program, lenders and brokers are approved and trained for membership, gaining incredible insight into mortgage loans that have set interest rates.  For the person that becomes a CalPERS lender, all the guidelines of the program are provided to help real estate professionals secure the best mortgage loans possible.

For mortgage lenders that want to offer their customers the best, being a CalPERS lender gives them a huge advantage.  In addition to being able to create great loans, the program also helps the lender develop a new method for revenue, which ultimately boosts business.  To ensure that lenders involved with this program are on track, various resources and tools are provided.

One of the factors that created the current real estate downfall was that loans were not qualified.  To ensure the market can get back on track and remain there, a CalPERS lender is required to meet very specific criteria.  For example, the lender or broker has to be approved by Fannie Mae, have a net worth of $500,000 or more, and have been in business for at least two years, showing profits during that time.  While criteria is set for becoming a member of the CalPERS lender program, getting involved is actually uncomplicated.

Brokers can also become a member of the program but in this case, the rules for membership are slightly different.  The broker would need to have a sponsor from a wholesale lender that participates in the program.  The easiest way would be for the broker or individual working for a broker to look at CalPERS lender rate sheets, and then contact one or more lenders addressing interest in the program.  Brokers wanting to get involved with the CalPERS lender program would also be required to undergo special training and agree to follow the program guidelines, to include marketing efforts.

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