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Profile picture for hmbv20

lender or broker

for mortgage which one is better,lender or broker, I mean is there any advantage for any of them and do the brokers charg extra fee?
thanks
  • March 11 2010 - US
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Answers (405)

hmbv20, don't ever work with a lender who is unable do their own homework... they'll just steer you in some loan they're pressured into by management. 

 
  • March 22 2010
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Thanks Jim I am trying to come around.  Help me out with this.  In your notes you mention...

A Flat Lender Fee Guarantee: Loan amounts or rates don't affect our fee so our advice is objective and never conflicts with your best interests.

So I read this and figure okay his broker fee should be the same no matter the loan amount or the rate right...

ZQ-DGTRQWT  $2800 broker fee
ZQ-FVBJRWF    $492 broker fee
ZQ-QFXXQWX   $2400 broker fee
ZQ- MXCCVGP  $23 broker fee

I do not know about you guys but that seems pretty straight forward....
  • March 22 2010
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Profile picture for Blue Nile
Only a views to post ratio of 12.15.  That is very low.  Average threads have a views to post ratio of 15.  Good threads have a views to post ratio of at least 20.  The best threads have views to post ratios of 50 to 70.

Sure, most of the ones I start have only a views to post ratio of 10; but that is because I'm not that skilled at creating thread titles, but I have gotten better.

And as far as "most posts" on a thread...  you have a long way to go to set any records.  The record is 1564 replies, with a second place of 1006 replies.  This thread is presently in 75'th place.
  • March 22 2010
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hmbv20,

don't ever work with a lender or broker that never answers your questions and make sure they answer your question and don't dance around them.
  • March 22 2010
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Profile picture for Blue Nile
"Could it possibly be..." -

It is more than possible; but Hamp already answered before you; perhaps you should check out some re-runs to see for yourself?

Sure, some people got the house up the street that burned down confused with it; but other than their architectural style, date built, back yard views, and neighborhood, there is no comparison.

Perhaps that's why you thought it was "Threadiators battle"?

I thought it was just a friendly discussion on how to select a good loan officer...  But if you thought it was some kind of battle, why did you choose the side that loses?
  • March 22 2010
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Andrew if you need to know our Flat Fee... go look at my quotes & figure it out for yourself... that is if can count above ten without taking your shoes off... geez some peoples loan officers... 

Thank you Joe, you've graduated "lender or broker" and finally learned what our clients already know.

  
  • March 22 2010
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Profile picture for shapiroamg
only 324 views to 3000. Hmbv20, you started a masterpiece of a monster thread. This buds for you mister monster thread starter.
  • March 22 2010
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But Andrew..He credits all that YSP to the borrower so the borrower can pay for that broker fee so it all good..........
  • March 22 2010
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I am just waiting for you to answer a simple question...

What is your flat fee?

  • March 22 2010
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Andrew are STILL grindin' axes... when's the last time you had a Happy Ending?... never mind, I don't want to know. 
  • March 22 2010
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I agree with Nic, the answer is less about the role -  lender or broker and more about the provider's expertise and willingness to work to match a borrower to the most suitable loan option available.  The challenge for borrowers is that they are not always in the best situation to assess which lender or broker can best meet their needs.  A loan officer really is in a position to help a homeowner or prospective homeowner plan for their financial future. 

More than ever, a qualified loan officer can help ensure that your transaction for your chosen purchase closes on time and with terms that work best for you.
  • March 22 2010
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That flat fee you don't disclose....
  • March 22 2010
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@ hmbv20... if your in WA state consider it done... We'll give you our best rate and charge you double our flat fee LOL ;-) 
  • March 22 2010
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The answer is it doesn't matter what they call themselves.  The quality of the individual loan officer is what matters most.


  • March 22 2010
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Profile picture for hmbv20
I think I asked one of the best questions in this page and I think the best part in the ? was the title.Anyway, every body is discussing around this subject but could you please give me a favoure, as the producer of this discussion, and give me a good deal for mortgage?! lol 
Thanks
  • March 22 2010
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Could it possibly be Stately Wayne Manor??? 
  • March 22 2010
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pasadenan is Alfred Pennyworth.
  • March 22 2010
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Profile picture for Blue Nile
Maybe the reason that Jim couldn't identify the Pasadena house in my present avatar is that he has forgotten Pasadena's connection to the television and movie industry?  Perhaps he didn't think the house was physically in Pasadena?  Perhaps if he thought of a fictional city that starts with the letter "G" from an old cartoon strip that became a television series instead he might remember?  (They didn't use the same house for the more recent movie, so that may also get many movie goers confused).

Yes, he is a bit young for the original series, but they were still playing the re-runs as he was growing up.

Come to think of it, Jim posted a reference on this thread to the cartoon when he referenced his Twitter account; but it appears he still didn't make the connection.  Perhaps if I said the popular house name begins with a "w"?
  • March 22 2010
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I am sure this thread was enlightening to not only hmbv20 but to any consumer that read it.  How they feel about it will differ from person to person.  The more educated the consumer is the better off they are and the easier they are to work with.
  • March 22 2010
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Pasa, thank you for bringing the url to my attention and I did correct it. 

"you can do anything and say anything you want until you are caught" - Pasa I'm glad you recognize the error of your ways... 

I have to defer to JP's observations... (as I can only begin to guess at the shock & horror of hbmv20)... so I'm going to TRY to check out of this thread and focus my attention on more positive, yet less entertaining, endeavors.

And yes Pasa, thank you, I did have a good time sailing. The weather was beautiful for Seattle standards. 
  • March 22 2010
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Profile picture for Blue Nile
"Find a few that you're comfortable with and whose rates and fees are acceptable." -

Yes, he did post the solution.  So the only question is how to determine if you are comfortable with a person you never met, and if they can close with those rates and fees on time.  I suggest you do that by whether they post misleading information, and if they have to create trademarks for data they provide.  And if they forget to register the trademarks that they claim are exclusive to them.
  • March 22 2010
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Profile picture for Blue Nile
On the health care vote issue; the news article was updated since I posted (same web address).  The house passed a second bill to revise the senate version of the bill, and now that bill goes to the senate for a vote there.

So, if the revised bill passes, anyone making over $40,000 per year will have to pay 2.5% of their income for health care to the IRS if they don't want to pay for health insurance to an insurance company or cooperative.

And companies with over 50 employees?  They will have to pay $2000 per person to the IRS for health care if they don't want to pay for heath insurance for their employees.

So, what does that mean for companies of 49 or 50 employees?  It means they won't be hiring.  And what does that mean for companies of 53 employees?  It means they will be laying some people off.
  • March 22 2010
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Profile picture for Blue Nile
It used to be in this country, a person was "presumed innocent until proven guilty"; but for some reason more and more people seem to be of the opinion that "you can do anything and say anything you want until you are caught".

I'm glad Jim corrected his name, phone number, address, and other contact information on his domain name registration; but I shouldn't have had to point it out for him to do it.
  • March 22 2010
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Profile picture for John Paunan
Look at Hutchins trying to insert something civil and substantive in the middle of flame-war.  How dare you sir...how dare you?!
  • March 22 2010
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Profile picture for Blue Nile
By the way, after Jim read the post about his ICANN registration data on Godaddy.com, he has gone back and fixed it.

Still, the prior information is still in the browser cache on this computer; not that anyone cares.

For those that don't know how to do a "whois" on the Godaddy site; the web address is:
http://who.godaddy.com/whoischeck.aspx
  • March 22 2010
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Paul...Tip of the hat amigo... At least you have the courage to post your under real name and profession. 

What? are you not entertained watching Threadiators battle in the area? ROALMAO...

  • March 22 2010
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Profile picture for Blue Nile
By the way, did you figure out which Pasadena house is on my Avatar yet?
(No, of course it is not mine; you can see mine by tracing my posts through my old profile).
  • March 22 2010
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Profile picture for Blue Nile
"Inquiring minds want to know???" -

Nobody wants to know, and it is already posted.

What they want to know is how to determine if a loan officer can provide the competitive quote they gave or not, and if they can do it on time without hassles and games.

I suggest they make that determination on if they follow the laws and provide correct information in other areas of their life and in other discussions.

The 555-1212 phone number used for the ICANN domain name registration should make it clear enough.
  • March 22 2010
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Profile picture for Paul Mondello
Jim, you seem to have quite a bit of time on your hands as well...

moving forward if you think you can produce anything on this thread that can negate the fool you have made of yourself thus far, keep posting, otherwise... 

(don't you usually preach against the likes of the sludge you are slinging here?)


 
  • March 22 2010
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hmbv20,

Lenders and brokers both participate in order to provide a competitive environment for the consumer to educate themselves about the available options and choose the best for their particular circumstances. Find a few that you're comfortable with and whose rates and fees are acceptable.





 
  • March 22 2010
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