Trado opportunities for mortgage brokers and Alex Jones fans
I just posted a couple new listings at http://trado.info/
Heard an NPR interview today about the SAME subprime lenders who caused the mortgage crisis now being FHA approved and getting ready for massive refis. There’s talk about FHA 4.5% loans and I can just see scummy brokers AGAIN making a ton of money on refis.
Only in America ...
I know that brokers don’t like to disclose how much they make. It used to be the LAW when I brokered loans in California in the 90s and that’s how it SHOULD be. I charged a flat fee of $2,000 for loans + a processing fee ($350?) and it didn’t matter to me whether the borrower wanted a no cost loan or the lowest rate. Often my clients got a check from me at closing to refund commissions over $2,000.
In the 90s, we had to do a TON of paper work, submit loan packages with over an inch of paper, usually in duplicate. A TON of work, especially when it was a difficult loan that had to be submitted to several lenders. I assume that loan packages are now mostly electronically transmitted and that it’s a lot less labor/paper intensive.
I rarely worked with real estate agents because they often have buyers apply with several lenders and I didn’t like working for free. My clients did NOT double app. When I took an application, I would do the loan. I’d like Trado members to also commit and not make the broker work for nothing.
It takes TWO to create an honest deal.
If you know a mortgage broker who you think qualifies, please have him/her contact me at Trado. And if they’re not interested, that’s a strong indication that they’re not quite as honest and competent as you thought.
Brokers usually charge whatever they can get away with.
Regarding the job to post interviews or links to online interviews/movies, there should be many Alex Jones fans interested.
Posted by Christine on 12/05/2008 at 11:23 PM
2009: Creating a NEW system - jobs, trade, money • (0) Comments • Permalink
