J.: You are the kind of guy who thinks he knows everything and winds up getting fucked over for thousands of extra dollars in fees, points, PMI, etc.
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So if someone uses a mortgage broker, the mortgage broker will protect them from extra fees, points, PMI, etc? Isn’t it the usual course that mortgage brokers get the highest commission on loans that make the most money for the lender?
[quote=Ex-SD]
I’m not in the mortgage business (like HLS) but I have friends who are and your source (or sources) for mortgage information are grossly misinformed.[/quote]
Mortgage brokers may be well-informed, but their commission comes from the lender, so they are incentivized to put the borrower in the loan that is best for the lender, not the borrower. Does HLS disclose how much he makes on a particular loan? Last I heard, mortgage brokers were fighting like crazy to keep from disclosing this type of information.
