Home > Blogs > Chris Mamone > HomeLendingByChris

So What I Charge An Origination Point? Do You Value My Service?

By Chris Mamone

Mortgage and Lending with Keller Mortgage NMLS#1239544

August 13, 2015 07:25 AM

Dear Clients and Realtors? Do you value my service?

My business is about value and experience, not cost. I'm not the McDonalds of the mortgage industry. Lowest costs equal lower experience and managing problems as you go along. I'm less concerned with price and more concerned with giving you the best experience during the largest financial decision of your life.

Realtors get paid between 3% and 6% of the purchase price. The same question applies here, did your realtor work hard for you? Did they provide you with the service and experience you expected? You'll pay your realtor three to six times what you'll pay me during the transaction. Value and Experience override cost everytime.

I charge an origination point. Do you value my service?

Re-Blog

Comments(8)

Comment

Show All Comments

Sort:

David Shamansky

US Mortgages - David Shamansky - Highlands Ranch, CO

Creative, Aggressive & 560 FICO - OK, Colorado Mtg

Great quote. I agree if price is your only focus you are almost guaranteed to have serious problems come closing time (assuming it even gets that far)

Aug 13, 2015 07:28 AM

Chris Mamone

Tacoma, WA

Troy Erickson AZ Realtor (602) 295-6807

HomeSmart - Chandler, AZ

Your Chandler, Ahwatukee, and East Valley Realtor

Chris - There definitely is a difference between price and value, and the higher the price does not always mean the more value you get.

Aug 13, 2015 08:04 AM

Chris Mamone

Keller Mortgage - Tacoma, WA

Senior Loan Officer

David I couldn't agree more.

Troy Erickson your absolutely right. Higher prices don't always mean best value. However in my experiences, price shoppers always end up costing you more in time and effort than those who value your services.

Aug 13, 2015 08:07 AM

Tammy Lankford,

Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA

Broker GA Lake Sinclair/Eatonton/Milledgeville

Perhaps a better take would be to explain what value you bring to the process for that origination fee.

Aug 13, 2015 01:11 PM

Tammy Lankford - I always do this as part of my first conversation with a client. One of the reasons we charge this at my company is so we can have underwriting, doc drawing, and funding all in house so we can cut out the delays in the process. Its actually the very reason we can close loans in 20-25 days. I explain what this means and how its important to the borrower.

Aug 16, 2015 03:33 AM

Chris my point is, if a consumer finds this post and reads it, then it becomes the first conversation you've had with with them. Trust me when I tell you I learned the hard way to put a positive spin on my posts and ask myself before I publish "will this bring me business if someone reads it?"

Aug 16, 2015 07:15 AM

Thomas F. Scanlon

Borgida & Company P. C., CPA's - Manchester, CT

CPA, CFP

Chris Mamone - Well done. I agree with David Shamansky , awesome quote.

Cheers,

Tom

Aug 16, 2015 11:46 PM

Thomas F. Scanlon - I utilize this moto in my business daily. I'm all about value because that is what you pay for. When you try to pay for something your unclear on the value you get, you'll end up wasting a lot of money!

Aug 17, 2015 03:08 AM

So What I Charge An Origination Point? Do You Value My Service?

Comments(8)

Chris Mamone

Service Areas

Recent Posts