It will be a tough job. The main mortgage lenders in California are difficult to trace, since a search in a directory mortgage returned hundreds of entries. If the premium listing is a sign of a leadership position in the world of mortgage lending after Bank of americas and RMI Loan must be the top lenders hold the top positions gold list.
Prequalification California with major mortgage lenders

However, if you use a search service for high quality mortgage lenders, creditors must include providing extensive information and prequalification and personal information, including Social Security number must not be imposed.

The variety of lenders in California is so large that may have hard time choosing someone. You may have to use referrals from friends and relatives, or a mortgage broker or loan of specialists who you can trust. Make a right choice is important and given the number of lenders, you may have to spend a lot of time to find the best lender, and still be too many to choose from out there.

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Due to the collapse of the mortgage market, there are a lot of the majority of subprime mortgage lenders closure or bankruptcy. In any case, there are thousands of people laid off in the street.

Despite the failure of subprime borrowers to repay their loans is considered the main reason for mortgage lenders to close businesses, there are some signs (and concerns) that is also upper class citizens who seem to experience financial difficulties.
How mortgage lenders try to prevent the closure?

Basically, lenders raise credit needs and reject loan applications for high LTV loans. The element of risk has been removed from a mortgage application. That income, low credit is impossible to find funding for non-payment.

Government seeks to lower the prime rate on several occasions and some government-backed mortgage programs have been created or modified again to help alleviate the levels of exclusion and allow borrowers to refinance better, more affordable.

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Each lender that charges higher interest rates that the rates offered by conventional lenders is a sub-prime lender.

Sub-prime lenders are offering loans to borrowers with weaker credit and loans and certain characteristics that do not conform to Fannie Mae and Freddie Mac criteria.

For example, a bad credit borrower will be one that has less than 620 Fico, and need a loan with high LTV. Sub-prime lenders consider that the borrower qualify for higher rates - 2-3% higher than conventional loans. The wholesale cost sub-prime home loans are justified by the greater risk - for both borrowers and lenders.

Sub-prime loans, also known as paper-B funding, is more expensive because of the increased risk associated with these loans - combined poor credit history, low incomes and high interest rates.
Sub-prime lending sometimes targets minorities

Loans abusive sometimes targets lower income and / or minority borrowers are sometimes also are less educated and have difficulty understanding some more sophisticated mortgage products and features. Some of these loans may carry prepayment penalties and other expensive hidden terms that cause borrowers to default and ultimately lead to exclusion.

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