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Shop globally... borrow locally!

While books and CDs may be conducive to centralized order placement and fulfillment, mortgage applications are probably best handled locally. Growing in popularity, however, are websites sponsored by lenders who can make loans nationwide, but through one type of distribution network or another can service the borrower locally. LoanCity.Com is a "wholesale" lender whose multi-lender conduit can be searched by the borrower at LoanCity's website, while the actual loan application is serviced locally by one of hundreds of affiliated mortgage brokers. This sort of "best of both worlds" system is one that many potential homeowners may want to check out.

Tue, 16 Nov 1999 13:35:03 -0800