tag:blogger.com,1999:blog-2951729905080621137.post3077171024769129021..comments2024-01-28T03:46:02.683-05:00Comments on Mortgage News Digest: Banker v Broker: Future of the Broker Business is its PastThomas Morgan 202-550-LOANhttp://www.blogger.com/profile/03341328785507458855noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-2951729905080621137.post-71289082452351811852013-08-22T10:47:43.509-04:002013-08-22T10:47:43.509-04:00Hello my name is Steve Avrus thank you for this gr...Hello my name is Steve Avrus thank you for this great article.Avrus Mortgagehttps://www.blogger.com/profile/15806355236257078600noreply@blogger.comtag:blogger.com,1999:blog-2951729905080621137.post-55160760102752141672013-08-16T02:12:28.569-04:002013-08-16T02:12:28.569-04:00Great blog regarding the future of mortgage broker...Great blog regarding the future of mortgage brokers or brokering system. This clearly defines that it has long way to go , lots of changes and efforts are required. Really a decent and a knowledgeable blog.johnyanghttp://www.redrockbrokers.com.au/noreply@blogger.comtag:blogger.com,1999:blog-2951729905080621137.post-20574026246600719672013-07-29T09:06:56.215-04:002013-07-29T09:06:56.215-04:00Truly an interesting history and article - thank y...Truly an interesting history and article - thank you for sharing - we always need food for thought to keep is moving toward the positive of why we are in the lending arena to begin with!!ida Dunnnoreply@blogger.comtag:blogger.com,1999:blog-2951729905080621137.post-70269906150088030032013-07-28T21:26:59.264-04:002013-07-28T21:26:59.264-04:00Interesting history and very thoughtful views on t...Interesting history and very thoughtful views on the mortgage broker story. The best brokers (and I know many) are excellent researchers and spend a good deal of time studying lenders products and procedures.Arthur Arandahttps://www.blogger.com/profile/15622093641189812514noreply@blogger.comtag:blogger.com,1999:blog-2951729905080621137.post-75371740892563659032013-07-27T10:26:45.878-04:002013-07-27T10:26:45.878-04:00Michael - I think it's about being local and b...Michael - I think it's about being local and being willing to drop the "lender paid" comp model exclusively. If I charge a flat fee, then I can go around to local banks, insurance companies, industrial loan associations and even private investors to see what they are offering their clients. A lot of smaller institutions without wholesale infrastructure won't pay premium pricing, so you have to add to par. <br /><br />In the mid 90's I had a robust array of portfolio programs from local banks; everything from construction/perm, high ltv investment property and high ltv purchase money 2nds. Anything outside the box got added to my product menu. Once, I found a small bank that was offering 5/5 ARMs at, literally, 2% below market. They only changed their rates once a quarter. I did $9MM of the product until they moved rates. Half of your work as a broker should be searching out new programs. <br /><br />Of course, you'll always have the agency stuff through your investors, but that shouldn't be your primary competitive advantage. Thomas Morgan 202-550-LOANhttps://www.blogger.com/profile/03341328785507458855noreply@blogger.comtag:blogger.com,1999:blog-2951729905080621137.post-92138183991649428692013-07-27T09:47:41.982-04:002013-07-27T09:47:41.982-04:00Well written, it makes me wonder of what kind of p...Well written, it makes me wonder of what kind of product menu a really good broker could develop, and to start to look for one to refer people too.Anonymousnoreply@blogger.com