House Bill Looks to Kill Yield Spread Premiums

bobrobs at 07:16 2009-03-29 said:

Hooray! Let's hope Congress follows through on this one! Permalink

mbrownkc at 03:31 2009-03-31 said:

I just love how so many people believe that every customer is the same and every lender sells the exact same thing. It isn't that easy. I don't care if you are a 800 credit score with a LTV of 50%. Banks offer different rates and you can call every bank in the phone book and hope to get the best deal or you can call a professional who can help. Don't even get started on customers with a 620 credit score and 85%ltv. These customers need professional help to find the best deal. Most people don't shop but atleast when the call a broker they will have options of different banks.

I am fairly confident a large majority of my customers are greatful for the service I provide them. Yes I have had a customer or two that thinks they got ripped off but that is usally the guy I saved from a death arm and dropped his payment $300 per month. But this is the same guy who bitches about everything. I have had customers I have worked with for many months to get thier ducks in a row and found them excellent deals. I can't imagine how hard that would have been for them.

The broker is not the bogeyman. The bad guy is a much larger player than the broker. You need to take the witch hunt up the ladder.

Good luck with that! Permalink