Wow I don’t even know where to start… First off I could not agree more with sdr. I would have to check previous posts but I believe that the DRE should absolutely segregate the practice of real estate and financing. Realtors should not engage in financing and mortgage brokers should not engage in real estate. I think most of the problems I have read about seem to occur when a person is doing both. It is a monstrosity of a conflict of interest.
Don’t even get me started on Elegado as well. Many a client has told me horror stories about the guy. I also have first hand experience submitting offers on his short sales awhile back and they received the same sort of black hole treatment that another high volume prominent realtor gave to short sale offers.
Buyers beware… if your mortgage broker offers you realtor services run…. if your realtor says they can do a loan for you run. Now if your realtor has some references for independent mortgage brokers it doesn’t hurt to include those references in your list of potential mortgage providers you intend to interview.
