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My new title will be Non-Profit rep - Thanks to the Dodd-Frank Act

 
It's bad enough that some loan officers, aka MLO (mortgage loan originator), make less than what they should on a borrower for several reasons.
Examples :
1.) If I spend countless days and hours helping someone work on their credit instead of them going to a credit repair person that could charge from $500 to $1,000. And just by helping them, this is already included in my total pricing, and is just another part of my service to my borrower's.
2.) Or if some issues come up to where the borrower doesn't have some of the money for closing now and or has to pay off something, I will dip into my profit margin to make the deal work.
Where am I going with all of this? It's about the big guy, aka the government, pushing out the small guy who wants to help out the consumer. Can we say conspiracy, that the big banks might have a hand in this? Possibly, but that is not my argument here.
 
 
Janet Guilbault wrote this excellent post :
You, Me, and the YSP: Dirty Rotten Kickback or A Borrower's Best Friend? This post couldn't be more spot on and ... more

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