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no more fun? You can't compare realtors to us... they have a flat fee for their services.
We sell money, have different feescausing more competition...
Hmm...I've found a lot of useful information on this forum and have an my questions answered very quickly. On my one post to the realtors' forum, I received a couple good answers and an insult. I think I'll stick to this forum. Additionally, reading through the complaints has been educational.
Lender rating
Since January 2009
Lender rating
Since November 2009
Then I guess I am just wrong in my efforts.
Tammy,
I agree with you. Our industry has been through a lot. The more people see the bashing, the more people get discouraged in working with brokers. The word broker is scary and if people see what others are saying is bad practice in business. Be ethical in what you do and say. Call people out but in a respectful matter.
How many of us have really spoken to a consumer? How many of us are closing loans left to right? Those that sya they are I have news for you applications are down both purchases and refinances. People are scared and we as an idustry need to change that image.
TS,
Mornin' and say hi to Bambi for me.. I'm sitting on the forn porch my single-wide scratching my bell (shirtless) fending off the Possums that got into the Dog Chow on the porch... "SKAT" critters!! (Just kidding) It would be neat to "scuttle" in the backrooms to settle differences, but becoming more transparent is not so bad, either. There are "cheaters" and they will get caught, by me or you or clients or Zill.... The mortgage area is like the newspaper quotes from WED in Sunday's paper, but they are live so the LO can not or shoud not have a subject to change "out" so easily. Yes, ratesheets are daily and can change, but this industry is filled with "sales people" masquerading as financial wizards... and then you have the "watchdogs", so it can appear to be an alley fight with fur flying everywhere. Kudos to the good... Shame on the bad and always try to help when asked without "pimpin".. Anyone read me... "I hate pimpin", directly that is.. When you help someone...they can click on your pretty face (implied pimpin') and when they verify what you said was correct... they like you and say nice things, yada yada... Like CC from NY.... We are porfessionals in the mortgage business and the ones that really don;t act like it are not the "watchdogs", but the "stealthy sharks". I'll take AA, CL, GD & GVD and JEN and Cl as well as you and others for my loan for my client moving to you area over the "confusing" rhetoric being broadcasted as "advice". Good Stuff... Anyone know how to cook "possum"? Is there are recipe for it on the Food Network?
Lender rating
Since November 2009
Thank you DM and MM, it's good to know my efforts are not in vain! Recipes.com, you might find possum soup. LOL
Amerisave..I have been kind of surpised that no one has mentioned that realtors don't have the same fees - in addition some of the RE brokers add fees at closing that are additional profit over and above the traditional % listed on the listing agrement.
FatNoah .. if these discussions have helped you it makes wading through a lot of this a worthwhile endavor.
AA... right you are!
Tammy, As long as you are licensed in a state where you choose to quote and are willing to do the work necessary to justify your fees you should be able to quote at will. To a borrower that feels proximity is important you will win. You will win by being you - no one else can do that - offer the many things that make you unique. Certainly thats more than a rate isn't it. And you have the freedom to make your offers where you feel most comfortable.
Good to see you again MM.
And now we know why you have the name "Master".. Good read, good info, good stuff.. Go Tigers!
I agree that Zillow was created as grass roots approach to help the average JOE. But business is business, and its slowly turned into a graveyard for everyone in the industry tryiing to make a buck.
The internet will always be a great source of info, but I think the day where people still trust it to make profound decisions is over.
Companies will have websites, but must be able to back it up with traditional sources such as brick and mortar branches and localized face to face service.
The internet was the perfect invention for scam artists. Enshrouded with mystery, and no way to police it.
You could be negotiating your mortage with some guy online and he is actually someone in a federal prison, or someone in Iran for all we know.
This is also why you folks give 100 quotes, then the homeonwer goes and plays it off their own local bank or broker .
Good point Tom, Fortunately Zillow has verified each of us as legitimate - in addition we post our license information. Perfect? No! Will it get better? I hope so. On the other side is the bank that does cookie cutter loans only and won't spend the money to train LO's. Reason? No management stomach for the expenditure necessary to train and RETAIN educated, intelligent, thinking LO's. Are brokers perfect? No! But a borrower interested in good, thoughtful advice and direction at least has some choices here. And the opportunity to read what all of us have to say. I still haven't seen anything close anywhere else.
Lender rating
I agree Tammy. What happend to professionalism?
Lender rating
Since November 2009
:)
Lender rating
Since January 2009
Again. Nothing is wrong with giving advise. But this is basically all you end up giving.
If Zillow listed the bidders by distance to the borrower, it would work much better.
TD,
That suggestion has been made to give the borrowers the sort mechanism by the same mile markers we can use.. To limit them against their will is probably a NOGO.. All will learn in good time.. No worries... I'm on my side of the fence.. Keep rockin'.
Martin
I have disagree. I believe dealing locally face to face is the only thing that will be left by 2010 , besides the huge banks like BOA and whatnot who can still advertise on TV nationally, and standard lenders like Chase, Citi etc.....
The era of fly by night middlemen like Ditech and others who simply flip the loans are coming to an end.
My advise to all of you is to corner a local market, go out and meet the mayor and all the major news sources there . Join the chamber of commerce and get the referral base around town .
This is what I did, and it took me years to have word of mouth keep me afloat.
Lender rating
Since November 2009
Why can't a plug be pu into the quote section asking:
Do you prefer local quotes only? Y or N
Search Radius:
10 miles
20 miles
50 miles
etc.
Just like what they do for us when we set up a Search Radius on the loan requests.
Lender rating
Since January 2009
What would Rich do with his time?
American Mortgage Specialists
480-315-3239
Michael Faulkner
30/15 Year Fixed Rates Available
Call for a no commitment free Quote.
Lender rating
Since November 2009
HUH???? SPAM = BAD
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Just a thought for lenders and Zillow
Tammy Stockdale, "Colorado Mtg Broker"
Mortgage Lender
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4.5/5.0
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Zillow All-Star
Since November 2009
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I'm was sitting here this morning with my cup o joe, watching the deer eat away at my flowers out back. I started thinking about these forums. Weren't these forums created as an informational tool and educational tool for the potential homebuyer or individual wanting to refinance? What they have turned into is a forum to complain, gripe and throw other lenders under the train, which I myself, am guilty of doing.
With all of the consternation in our industry these days, why don't we unite to help these people out. Why don't we unite to make our industry as a whole, look better. Imagine all of those consumers reading our forums, what are they to think? Why can't Zillow create "private" forums, just for the registered lenders to go to to continue to pin point these pin heads. We can continue to do what we are doing by calling these people, out, but calling them out in private. Zillow should be able to create an area that lists, by state that they can lend in, all of the lenders that have been called out because of bad quotes. They can also "flag" the lenders profile, so that when consumers go in and look at their profile, they see that they have been called out for bad quotes.
I was looking for realtors who were calling eachother out for bad business practices, I didn't find any, and we all know, they are out there. Most realtors were answering questions and providing advice. Why can't we do the same? Maybe in doing so, we all might end up with a deal or two for helping people.
Just a thought.................................
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