Hi everyone!

First, I would like to say that, as a mortgage professional, I have the utmost amount of respect for what you all do. You see, I have always looked at Real Estate as a team sport...the more we understand one another's challenges, the easier it becomes to find solutions that will make the home buying experience more satisfying for our clients...which in turn, will generate more referrals for all people involved in the transaction. Answering these 3 questions would be extremely valuable to any mortgage and real estate professional who cares about making the process more efficient and satisfying for their clients. So...

As an agent, what is the most challenging part of your job? What do you struggle the most with? (finding prospects/qualified leads, time management, lack of system or training, lack of support, competing with discounters...you see where I'm going with that.)

What are your biggest issues with mortgage providers? (Communication, integrity, service, performance issues, lack of support, internet lenders and call centers...be as specific as you can.)

What could we ALL do to make sure our clients (buyers and sellers) are "wowed" from the listing to the sale!

Solutions are easier to find when the problems are identified. Thank you in advance for your feedback.


"In it together"

All of the above, plus outrageous fees.

This will probably be the one and only time I will agree with the above agent:

Quit charging people JUNK fees and taking huge Yield Spreads!!!

I have as much distain for mortgage brokers who charge these fees as much as I do for agents charging 6% to sell a house.

My biggest problem is when the mortgage broker tells my clients "Do you need new furniture for your house or how about a decorating allowance--All Terry needs to do is amend the contract and have the seller issue you a credit at closing"--this can create a bunch of problems and is just one of the reasons that mortgage brokers are at the bottom of my preferred lender list (and in very smalll print).

"I have as much distain for mortgage brokers who charge these fees as much as I do for agents charging 6% to sell a house."

Rick
In my view your point could be made without saying this at all. We also have concern over so called discount companys who give the industry a bad name by not delivering what they promise.Which is full service for a lower price. If it does not sell I call that NO service.

Terry:
It's typical Rick. Until the whole world is sold for 1.5% Rick will continue his Jim Jones "Drink the Kool-Aid" rants on this board. Always has. Always will.

Alea:
Honestly, I have had one issue with some fly by night mortgage broker that I told my buyer not to go to in the first place. I knew it would be a bad situation and it was.

I have four lenders that I use exclusively and I've never had a problem. If I did - I know it would get fixed immediately through any one of these people. We have an understanding, I keep them stocked with buyers - they have no junk fees.

Can someone outline what the typical junks fees are?

Here we go...Rick..what do you charge and how many sales that you can document have you closed in the last 12 months?

First posting, great to be here. I have a resolution to all your problems! I work for a direct lender by the name of InhouseLender. Every deal that funds through my company, the agent or broker gets compensated 100% of the commission. Yes, you receive both Origination and Rebates (up to 3% per deal). Not only will you finally be compensated for your loans but you have 100% control over the transaction. You charge the points and fees, not myself, i dont act as a loan officer. So if a broker or agent wants to do their personal loan, of course your not going to charge yourself points, so we would do a 0 point loan and get the par rate, meaning lowest possible rate without a payback to me or yourself. Its the closest you will get to doing your own loan. What the realtors i work with love most is the fact that rebates are not disclosed to the borrower. So if you have a good referral client or a friend, you can charge them a 0 point loan and still make money on the back end. #1, you look like a hero to your client and #2, your making money at the same time. Check out our website www.inhouselender.com. We are in full compliance with RESPA and are licensed by the DRE for credability purposes. Some of you might be familiar with our company, we are one of the first to provide this service to real estate professionals however keep your eyes open for companies like ours opening up shop. There are 2 companies in my local area trying to duplicate our system... Too bad we are 7 years ahead of the game (founded in 1999 by Alfred Hannah). Touch base with me if further elaboration is needed.

You need to come up with better trolling material than this. Rick, do you ever post anything of substance?

With all due respect, this is exactly why the lending industry has earned such a bad rep.!

We obviously are dealing with two different breeds of real estate and mortgage professionals here. You see, reputable agents and LOs alike conduct their day-to-day business by answering a few very simple questions:

Q: how do we, as customers, like to be treated?
A: fairly and honestly.
Q: how do our customers want to be treated?
A: fairly and honestly.

I disclose the rebate to all my clients and let them pick their interest rate. You may think that I earn less by doing that but you're wrong. Not only do I earn the same but I've built a solid reputation and earned many referrals because of it. At the end of the day, all you've got is your name. People are not as dumb as most would like to think they are.

Who are the heros now?