Midwest Mortgage Capital History

Midwest Mortgage Capital was founded in 2001 in St. Louis by a group of industry veterans with the common purpose of acting in our customers’ best interests and delivering superb service.  Wanting to retain as much control over each of our transactions as possible, we quickly gained the ability to originate and underwrite FHA and VA loans in-house and developed strong investor relationships for great interest rates.  Subsequently, over the last decade, Midwest Mortgage Capital has grown to one of the largest mortgage bankers in the Midwest, now doing business in 13 states and counting. We are committed to helping people achieve the dream of home ownership and a financially sound future.

Whether you are looking for a home, a present homeowner wanting to save money on interest or remodel your home, or a senior citizen looking to make your equity work for you, Midwest Mortgage Capital has creative, no-hassle solutions to meet all your financing needs.

Contact one of our experienced Mortgage Consultants today

Why a Mortgage Banker?

In-House Operations. Brokers and bank branches have to send all their loan files states away to the big banks’ corporate processing centers for approval before you can close, which can take weeks.  This causes inconvenience for you and, in a home purchase situation, can place you in breach of contract.

Unlike a mortgage broker or a retail bank branch, a Mortgage Banker performs all loan activities in-house, from origination to processing to underwriting to closing.  A Mortgage Banker has proven itself worthy of delegated authority from the big banks, FHA, VA, USDA, and the mortgage insurance companies to review borrower information and to approve and make loans on its own, which results in a quicker, smoother transaction for you.

Better Interest Rates. Bank branches have a set interest rate schedule with no flexibility, and mortgage brokers either have to increase your rate or charge you fees to make money.

Thanks to our good relationships with our investors, we can offer you the most competitive interest rates out there without junk fees or some bait-and-switch.

Loan Officer Licensing. Employees of banks do not require education, training, examination, or licensure regulated by state or Federal governments, nor do they have to pass any background or credit checks other than what their employer deems necessary.  They can lend in any state without having to pass an examination on that state’s lending laws.  In addition, the systems in place to monitor loan originators’ lending activity (National Mortgage Licensing System, or NMLS) do not apply to banks; they are all exempt by law.

A Mortgage Banker, on the other hand, is required to have every one of its loan originators submit to thorough background and credit checks, pass a national mortgage originator exam and pass state exams for all states in which they want to do business to become licensed.  Then originators for a Mortgage Banker participate in several hours annually of continuing education, and background and current monitoring information concerning state-licensed companies, branches, and licensed individuals is available online at the National Mortgage Licensing System’s consumer access portal.  We offer accountability in mortgage lending, which gives you peace of mind.

Contact one of our experienced Mortgage Consultants today