Mortgage brokers are well aware we are making a comeback. I recently listened in on a webinar by Matt Ishbia of United Wholesale where he said: “Brokers have the option to go to whatever wholesale lender has got the best opportunity, the best turn times, the best availability at that given time,” Ishbia said. “The best place for a borrower to go is a mortgage broker.”
In 2014 mortgage brokers accounted for 9.4% of all mortgage loan originations with 20% of the purchase market. Prior to the financial collapse mortgage brokers accounted for 30% of … (0 comments)
mortgage brokers: HOW DO MORTGAGE BROKERS GET PAID?
- 05/07/12 07:10 AM
HOW DO MORTGAGE BROKERS GET PAID? How I get paid comes up early on in a conversation with a home loan applicant. Mortgage brokers are paid by either a consumer or by a lender, but not by both. Prior to April 2010, mortgage brokers could get paid by a combination, but the loan officer compensation rule that went into effect on April Fools Day put an end to that. When a lender accepts a loan from a mortgage broker they pay "yield spread premium" or YSP. A mortgage broker is required to disclose to the borrower the gross amount of money (YSP) the firm … (6 comments)
DO YOU BUY LOCAL? During this time when many of us are frustrated by waiting on our government to "fix" everything, I wonder how many people make an effort to BUY LOCAL?
I saw a TV program where a restaurant owner was about to lose his business because of the bigger restaurants coming into his market. When word got out, the town came in and ate, provided income for him to stay in business. When someone like this can stay in business, that person has money to spend in the local economy. It helps not only the restaurant … (0 comments)
mortgage brokers: ALL BROKERS ARE GONE!
- 06/14/11 06:28 AM
ALL BROKERS ARE GONE! According to Jamie Dimon of J P Morgan Chase ALL BROKERS ARE GONE in testimony to Ben Bernanke. In his list of things that have already been done to remedy the housing crisis citing that brokers are all gone was high on the list. Well, along with thrifts. You can watch this clip at www.TBWSDailyShow.com I love the look on Bernanke's face. Though there has been much discussion regarding the cause of the housing collapse, and granted the mortgage brokers have taken it on the chin, I think a lot of folks have come around to … (3 comments)
MORTGAGE BROKERS MAKING A COMEBACK
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