Aaron Opfell's Discussions

http://www.zillow.com/mortgage/LoanRequestAndQuotes.htm?loanRequestId=X1-ZRz1e6kj14x98m_846a05.75 , $1200 lender fees on a mobile home 

I think he was reaching for reasons to talk bad about Zillow. You know, the type of critic where even the most excellent idea must have a few minor flaws just to round it out.  Wait, I'm describing myself. I have worked Lending Tree and Lower My Bills and I can say I actually prefer to work Zillow leads, for the pure fact I don't have to chase anyone. Then there is also the insane cost of those leads. If the client likes me and my qoute, they reach out.  Brilliant. I just wish there was more requests. Hope the novelty isn't fading.

*enters the ring*OnePaw- I see where you are coming from, and I relate. Informed consumers shop; this is a reality in the business now.  However, since rates change several times daily, and fee structures are still not very transparent, it is extremely for you to accurately compare your options.  Also, if someone decides to simply lie to you and then bait and switch, you've got a heart attack at closing at best.Loan officers get frustrated when you shop the crap out of them.  They may out of hunger take a low revenue deal but they may not be as motivated.  What you need to do, is get pricing (GFE's) from two or three lenders, maybe a broker and bank or two on the same day. Then, compare the different structures of rate, apr and points, choose the balance of the one you are most comfortable with and best deal, and commit to them.  Tell them though if they try to change it up you will walk.then once your offer is accepted, get your rate lock and a new GFE, double check with one of the other lenders to make sure it's reasonable; if it is just move forward and keep the other guy in your pocket.You are making it much, much harder than it needs to be and actually may not be helping yourself. Whatever you do don't wait till you get into escrow to decide on your lender. This could have horrible delay and consequence to your purchase.

What is funny is that I haven't done a conventional loan in like 12 months. FHA, VA, D-paper; but no FNMA.  Funny article on bloomberg about how Fannie and Freddie used their emergency increased lending caps not like they were supposed to (buying the new jumbo mortgages) but purchasing their own securities.

I think the summary viewed status is triggered both on viewing the qoutes recieved page and/or opening the email it sends to them with the qoute info..

FHA works with bad credit and allows 100% financing through use of a Seller Sponsored Gift program such as Neihmiah or Ameridream.  Seems like the best choice for you based on what you wrote.

You know, I think that we've fallen away here from the main goal of this site.Its to close deals and make money.Seems like every one of these threads are huge pissing contests.Each and every one of my qoutes has appraisal, cr, processing etc disclosed. even the flood cert. I think a discerning borrower can wonder why other qoutes are missing them. I've even had a few clients mention that they picked me because they were concerned about this specific issue and appreciated that I disclosed.Zillow I think oddly has bit off a little more than they can chew.  They make a decent amount of ad revenue I'm sure but it's not enough to hire a fleet of IT and admin people. Oddly enough though I have seen them implement a few of the changes I've suggested.  Just last week I reccomended they enhance the flaggin system to one like craigslist; (if you've never been on there, if enough people flag a post as offensive it is automatically deleted) the current system of review for flags is slow and takes about a week for mod review.I like integrities idea- the review system needs more exposure overall, but there needs to be staff review involved. Perhaps a 3 strikes and your out policy for those types of things. Obviously you don't want to put the wheel fully into the consumers hands though.But finally I also think they should implement a "leveled" review system. if no closed loan has occured people are only able to make an experience review. if they have funded their deal, maybe Zillow could verify it with the title company or something, issue the borrower a code, and only then they could make a more detailed review. This other review could be weighted more heavily for the overall score.

They got delisted off the exchange last week and I am curious if they are still liquid enough to close loans. If they are, for how much longer?

Because that would require a lot of manpower. Lending Tree and other sources of online business do get that involved but they charge us on the front and back end remember? Me, I'd rather just build a better mousetrap i dont mind if there's cats around. read my post on page 3 of this thread I think they are moving towards a system like this. If its full blown moderation you want, i don't think you'll get it unfortunately. Not without some cost somewhere else.

Salem- why do you go to work in the morning? I don't know about you, but I go to feed my family. Thats at the bottom line of any business endeavor. You wrote: "It is about information plain and simple" to which I wholeheartedly agree. Maybe I'm waxing philosophical here, but why is that information being collected/stored/developed here? Not in the name of charity certainly. Now I will say while making money is my intent, I have a code of ethics that determines how I pursue that goal. And when making money on Zillow, transparency and truth are the only thing that will help you achieve that goal. I only meant that some here are spending all their time in the discussion boards complaining when they could be instead out there sharpening the game. What I meant to say is they fell away from the original reason they came here.