Laurence E. Ostrom
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 including, but not limited to Chester, Delaware, Montgomery, Philadelphia, Bucks, Berks, and Lancaster counties. PMC is proud to be a member of the National and Pennsylvania Association of Mortgage Professionals, and fully endorses their Code of Ethics.
Professional Mortgage Consultants was founded on the belief that real customer service, not lip service, is paramount. We have pledged to work hard, honestly, and intelligently. Our loyalty is only with you, the customer, not the lender nor the real estate firm. We share the conviction that the customer should be treated as a person, not a loan number. The customer should have the same contact person, from start to finish during the entire transaction. This one-person contact is available 24 hours a day/7 days a week. We believe in being very accurate with quotes regarding interest rates and estimated closing costs - and, we take this belief one step further - we attend settlement with every one of our customers to make sure what we quoted in the beginning is what shows up at the end from the lender. Lastly, we believe it is important for our customers to understand the issues which impact the decisions that only they can make. We take the time to provide the necessary information because only a well-informed customer can make the best decisions.
About the Owner
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 2-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 2 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 loan officer with one of the largest national mortgage bankers, and he 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 originators WORK for the lender, whose interests are often times not the customer's. After learning and working within this system for 2 years, Laurence left to establish his own firm, structured as an independent "mortgage BROKER."
The Concept of a 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 the customer. 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 (for instance, Chase Manhattan is one of PMC's lenders) with "Mom 'N' Pop" lower overhead and better service. Mortgage brokers, nationwide, originated 64% of all residential mortgages in 2007 compared to banks/savings & loans and retail mortgage bankers! That's astounding considering that mortgage brokering is such a new profession. For example, in 1987, mortgage brokers accounted for only 20%! Laurence believes that this explosive growth in our field is due to better pricing and certainly better and INDEPENDENT service than the retail lenders, or realtor-owned and realtor-associated lenders can provide. For more information, click to The National Association of Mortgage Professionals.
Accomplishments -- PMC takes pride stating that in our history, not one loan application has ever been denied. Our 100% approval rate and our 100% referral rate in 2016 are strong testimonials that we truly are delivering real "customer service."
"The PMC Pledge":
Honesty, hard work, and attention to detail
Accurate Rate Quotes
Mortgage-related closing costs at settlement, exactly as initially quoted
Professional & confidential interaction with clients
PA Dep't of Banking
The Lending Integrity Seal of Approval helps homebuyers find hardworking, ethical mortgage professionals. To earn the Lending Integrity Seal of Approval, professionals undergo a rigorous processcomplete continuing education, pass a criminal background check, and pledge to adhere to a strict code of ethics, best business practices and an ethics grievance review process. Look for the Lending Integrity Seal of Approval when you are finding a mortgage professional.
Click here to find out more