Bob, in the future when you are posting rate quotes here to promote a company make sure you post accurately and disclose to everyone the 2.5 points that you have to pay to get that rate. You did not do this initially.
Ray, I am also a broker who posts often here at the pig. In response to your post, no broker is going to pay 1.25% points to Bob to split the discount points of 2.5%. How is he going to make money? (the broker)?
He is not getting a YSP from the lender….Bob…is he charging you points on top of the discount points of 2.5% to underwrite the loan? What are the fees involved?
Let’s make sure we are talking Apples to Apples with these types of things here…..always get a GFE and a confirmation of rate lock from the broker and tell him or her that if that GFE changes significantly at close you are not signing the docs…..
