QRB week 4

Mortgage Providers Comparison

Student’s Name

Institutional Affiliation

Mortgage Providers Comparison: Selected Choice

The main differences between these three companies is in the rates and other features on accessing important information about the mortgage. The best company in this regard is Lending Tree. It has a rate of 3.927% APR which is the lowest. It does not offer the loans directly but offers several offers from different companies with a base APR rate of 3.927% (Fitzpatrick & Mues, 2016). there may be companies offering less rates than that which is why consumers find the firm endearing from an interest point of view.

Further, the firm offers the clients the chance to compare up to five lenders in minutes with no additional cost. The only downside of this feature is that the company cannot explain the underwriting process because it varies from one lender to the other (Fitzpatrick & Mues, 2016). The best thing is that the firm offers a wide network from which clients can compare and choose the best loan fees, rates and terms that can fit their specific financial situation.

Another added benefit that Lending Tree has that makes it my selected choice is the high chance of qualifying. With plenty of offers received by the client, the chances of qualifying for the loan is high because of the varying and competitive requirements that are offered by different lenders (Fitzpatrick & Mues, 2016). This increases the chance of being accepted.

As well, the firm saves time by giving a credit score for the clients. It offers its services in most parts of the U.S. making a well distributed company that reaches many people. Moreover, the firm ensures that its website is well arranged to offer vital information easily to the users. This information includes details on various loan matters that may be of use to the client (Gordon & Rosenthal, 2016). In short, this company offers convenience in ways that no other company offers.

References

Fitzpatrick, T., & Mues, C. (2016). An empirical comparison of classification algorithms for mortgage default prediction: evidence from a distressed mortgage market. European Journal of Operational Research, 249(2), 427-439.

Gordon, S., & Rosenthal, H. (2016). Political actions by private interests: Mortgage market regulation in the wake of Dodd-Frank. Working Paper, NYU.