RESPA changes coming from The Department Of Housing and Urban Development.

Jeff - There are all sorts of people involved in a transaction capable of "dropping the ball."  While I understand what you're saying, that you have those you can trust and know will get the job done, we all should have that same stable of reliable lenders (and others).  As a Realtor, I know who I think can get the job done, as well as who I think will work best with a particular client (some clients like a lender to be just the facts, some like a lender who is a bit more compassionate, etc.).  I'm not totally against the idea of builders having a list of preferred lenders, that isn't so bad (having several to choose from), but when a builder confines you to one lender, that bothers me.  I've even run numbers on some loan offers from a preferred lender (with incentives) vs. an outside loan and the outside loan came out on top (in terms of financial benefits), but the client (not mine I was helping another agent in the office do some calculations) took the preferred lender because they only saw the list price change and and not the big picture of the long term financial gain.  They couldn't see past the incentive number.

Jeff - I see what you're saying and I can't disagree with that too much.  A good lender on your side that you know and trust to get the job done in the correct amount of time is very important.  I have crossed lenders off my list of "people I know" simply because they wouldn't return my emails or calls.  I think my problem with the current arrangement is less a builder like you who has several lenders that you know and trust, but rather the exclusive deals that tie in to a builder and their incentive (as some of the large builders have done).

As for the BTSA - ugh.  I'm with you on that.  I love the "free" money of those bonuses, but what I don't like is the constant advertising of them to agents.  It concerns me a lot, as I have heard agents say "well, you should look to see what the available bonuses are like right now."  If I think of a bonus before showing a property, I am doing my clients no justice at all.  I have become nothing more than a money collector the minute I do that and a) that's not why I am an agent, and b) that's putting your interest above your clients, a serious violation of everything I stand for.  Everyday I go through my mailbox and discard all the builder's advertisements telling me how much extra money I can earn for selling their houses.  I do the same with emails from agents doing the same.  I find the home for my client first, then if there is a bonus - its exactly that...a bonus.  Its not the reason I showed them the house.  I had a builder tell me the other day "well the bonus is now down to $2500."  I told him I didn't care, I just hoped to sell the property (I was doing an open house for them) or meet some new potential clients.  If the $2500 was in my stocking for Christmas this year, I would appreciate it, but I won't push the sale because of it.

GWV5903 - Please see the comments in my reply to Jeff.

Rick - Thanks for the link.  Its nice to see it broken down like that.