Professional Mortgage Consultants (PMC) was established January 1, 1991 by Laurence E. Ostrom, who is the sole proprietor of the firm. PMC is a Pennsylvania licensed, residential Mortgage Broker, primarily servicing the southeastern region of Pennsylvania including, but not limited to Chester, Delaware, Montgomery, Bucks, Berks, and Lancaster counties. PMC is proud to be a member of the National and Pennsylvania Association of Mortgage Brokers, and fully endorses their Code of Ethics and Best Lending Practices.
Laurence graduated from Dickinson College (Carlisle, PA) with a B.A. in Economics. He also studied Economics at the University of Southampton, England. He shortly thereafter entered the mortgage business, working in the mortgage servicing department of Naples Federal Savings & Loan (Naples, FL). This two-year exposure into the "back-end" of the business educated him about concepts that often aren't understood by most mortgage originators — property tax & hazard insurance escrow accounts, investor reporting, collection activities, foreclosure law, and most importantly, the understanding of the legal instruments (the actual mortgage and note) which all borrowers must sign at closing.
After two years and a promotion to track and coordinate the bank's foreclosure activities, Laurence returned to southeastern Pennsylvania to get into the "front-end" of the business. Laurence became a Mortgage Loan Originator with one of the largest national mortgage bankers, and learned how mortgages were originated, but from a retail mortgage banking branch point-of-view. At the time, this retail lending (customer dealing directly with a bank) was how mortgages were primarily originated. But the structure of this system led him to believe that real customer service was unobtainable. After all, the Mortgage Loan Originators WORK for the lender, whose interests are often times not the customer's. After learning and working within this system for two years, Laurence left to establish his own firm, structured as an independent "Mortgage BROKER."
Just as the name implies, Brokers put together transactions between lenders and borrowers. We have ACCESS to many different lenders, but don't work for them -- we work exclusively for our customers. We work for you, so we can independently advise and construct the best mortgage plan, which usually costs you less than if you went directly with the lender itself.
The customer truly gets the best of both worlds — access to big bank cost of money with "Mom 'N' Pop" lower overhead and better service. Brokers were responsible for closing nearly 25% of the mortgage volume in the first half of 2020.
PMC believes that this explosive growth in our field is due to better pricing and certainly better and INDEPENDENT service than that provided by retail lenders, real estate brokerage-owned lenders, or the real estate brokerage's affiliated business arrangements. Feel free to call to better understand these distinctions, besides other types of mortgage lenders such as banks, S&Ls, credit unions, among other possible sources. Brokers are better.
PMC takes pride stating that in our history, not one loan application has ever been denied. Our 100% approval rate over 29 years and our 100% referral rate in 2020 are strong testimonials that we truly are delivering real "customer service."