It's a breath of fresh air to read a tell it like it is approach to finding a good deal on the mortgage. It was also impressive to see you talk about how reform should actually take place.

It's easy for people to criticize but alot more difficult to come up with some common sense solutions. The people that can fix these problems are not the politicians it's the leaders of the real estate and mortgage industry. The people actually doing this on a day to day basis.

I look forward to more of your insightful post about mortgages.

Just a word of wisdom, if you get a client who is determined to use a finance company advertised in the back of their professional journal…be afraid, be very afraid. Although I strongly counseled my client against using this finance company, she proceeded. Needless to say, the financing rate the company promised never materialized. Luckily, we found a local bank who pulled the rabbit out of the hat and closed the deal in seven days.

You had me at “Honestly, the whole industry is a scam…”

I agree.

The mortgage business is built from bottom to top on concealing information — NOT transparency. Concealed information is (in my opinion) rarely a good thing and in the mortgage business what it allows is people to push their own agenda/greed without others supposedly knowing.

If there ever was a business that needed reform from the top down, it is the mortgage business.

In my opinion.

But whoever is doing the reforming will most likely start at the bottom (the originator) and stop there — but it needs a total overhaul. There are way, way, way too many “hands in the pot” between the organizations who have the money to lend and the person who wants to borrow.

Just my opinion.

Thanks for taking the time to comment!

Justin

Sweet. Thanks for giving good feedback, it is always nice to hear. My goal is to just call it like I see it — realizing that I don't see everything and sometimes I get it wrong.

But if people who are “in the know” agree with me, it isn't always a bad sign…

Justin

I agree with you when you say “the key is your loan officer”… I think that matters more than ever in today's crazy mortgage-world.

Thanks for taking the time to share.

Justin