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Pre-Qualification Process

Thanks for considering me for your loan officer.

If you’re curious about my company, we are the biggest mortgage lender in MN that you’ve never heard of. We underwrite and fund our own loans and then subsequently sell off the loan to any one of many different  “end investors” that I’m sure you’ve heard of (i.e. Wells Fargo, Sun West, Franklin American Mortgage Company, GMAC, Flagstar, Mortgage Services III, LLC, Chase, Affiliated, Provident, PHH, etc.). While I have the capacity to broker loans to other lending institutions, I primarily act as a correspondent lender with funding and delegated underwriting authority for Fannie Mae, Freddie Mac, RD, MHFA, VA and FHA loan products. For my personal resume click here and for our company Better Business Bureau rating, click here.

A lot of the mortgage process can be handled online and over the phone these days. What I typically like to do is get all of the essential information that would be needed to process the pre-approval ahead of time and then, when we meet or schedule a conference call, we’ll take that time to go over options. Otherwise, we’ll end up going over paperwork and forms that are less relevant to your interests. A third option (and a very popular one) would be to do a video conference at http://conference.charlesdailey.com/ where you can see me, hear me and see my computer screen. This seems to work better for most of my clients but I can accommodate a change in plans if you need.

This front-end process comes in 3 steps. The three steps come in this order:

(1) Apply online. To start this process, click here. You can schedule an application over the phone if you prefer but the online application is quicker and most people opt for it because it is less intrusive on a person’s schedule.

(2) Collect needed paperwork for the transaction. Although I can provide you with a checklist that’s tailored to your specific transaction, it’s a better idea for you to get an idea of what will be needed now; to see this list, click here. This information is not required for a pre-approval but the strength of your pre-approval will be reinforced by proper review of this material so it is highly recommended.

(3) Schedule a face to face meeting, conference call or video conference to go over the options that you have, how these options will fit in with your short and long term plans, suggestions that could improve your options (if applicable), principles of floating a rate vs. locking a rate, interest rate forecasts, general lending industry questions and anything else that you have on your mind.

After these 3 steps, I’ll pre-underwrite the loan directly through FHA, Fannie Mae or Freddie Mac so that your approval can be strong and you can have full confidence in your financing. I really look forward to working with you. Feel free to e-mail or call me anytime about any of this.

Charles Dailey – NMLS ID # 79048

612-234-RATE (7283)



Charles Dailey, Branch Manager, NMLS # 79048 NMLS #79048
iLoan NMLS #4474
2324 University Avenue West, Suite 202, St Paul, MN  55114
Office:  (612) 234-7283
Cell:  (651) 428-6968
Toll Free:  (888) 373-4467
Fax:  (651) 829-2202
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Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act.
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