Recommendations for a good mortgage broker

[SD Realtor]

Per Chris’s post, I have worked with Annica and found her to be a very good broker. There are some other clients I work with who are working with her and are very happy with her.

SD Realtor

[paramount]

“If you decide to call her, use my name as a referral. She does not take on alot of new clients without a referral of some kind. 949-859-0808 is her office number. I know that Adam ( SD Realtor ) is working with her after dealing with her during my last home purchase, where he represented me.

She refuses to take on marginal clients, but has always gotten me the lowest rates I could ever find and prefers doing no cost loans. She does not need the money at this point in her life, so she picks her clients versus just dealing with anyone.”

Why not just go to a big bank? If you can’t get a mortgage at Wells Fargo, BofA or similar type bank, you probably should not be in the market for a mortgage.

Now for my rant: 1st of all I want to identify what I think are the Top 3 scam/bloodsucking industries in America:

1. Mortgage industry/brokers: “She does not need the money” These mortgage brokers get paid more than surgeons – where in the hell are our values in this country?! 95% of all mortgage brokers are scam artists IMO.

1. Real Estate Agents – when I grew up I didn’t even know of a real estate agent. Now they’re everywhere – is this the result of the ‘new’ economy where people change jobs frequently? If so, what a terrible side effect. When I acquire real estate, I keep it.

1. The insurance industry – for proof of that in my opinion just watch “Real Wives of Orange County”

Go ahead, flame me, I don’t care.

[paramount]

“If you decide to call her, use my name as a referral. She does not take on alot of new clients without a referral of some kind. 949-859-0808 is her office number. I know that Adam ( SD Realtor ) is working with her after dealing with her during my last home purchase, where he represented me.

She refuses to take on marginal clients, but has always gotten me the lowest rates I could ever find and prefers doing no cost loans. She does not need the money at this point in her life, so she picks her clients versus just dealing with anyone.”

Why not just go to a big bank? If you can’t get a mortgage at Wells Fargo, BofA or similar type bank, you probably should not be in the market for a mortgage.

Now for my rant: 1st of all I want to identify what I think are the Top 3 scam/bloodsucking industries in America:

1. Mortgage industry/brokers: “She does not need the money” These mortgage brokers get paid more than surgeons – where in the hell are our values in this country?! 95% of all mortgage brokers are scam artists IMO.

1. Real Estate Agents – when I grew up I didn’t even know of a real estate agent. Now they’re everywhere – is this the result of the ‘new’ economy where people change jobs frequently? If so, what a terrible side effect. When I acquire real estate, I keep it.

1. The insurance industry – for proof of that in my opinion just watch “Real Wives of Orange County”

Go ahead, flame me, I don’t care.

[paramount]

“If you decide to call her, use my name as a referral. She does not take on alot of new clients without a referral of some kind. 949-859-0808 is her office number. I know that Adam ( SD Realtor ) is working with her after dealing with her during my last home purchase, where he represented me.

She refuses to take on marginal clients, but has always gotten me the lowest rates I could ever find and prefers doing no cost loans. She does not need the money at this point in her life, so she picks her clients versus just dealing with anyone.”

Why not just go to a big bank? If you can’t get a mortgage at Wells Fargo, BofA or similar type bank, you probably should not be in the market for a mortgage.

Now for my rant: 1st of all I want to identify what I think are the Top 3 scam/bloodsucking industries in America:

1. Mortgage industry/brokers: “She does not need the money” These mortgage brokers get paid more than surgeons – where in the hell are our values in this country?! 95% of all mortgage brokers are scam artists IMO.

1. Real Estate Agents – when I grew up I didn’t even know of a real estate agent. Now they’re everywhere – is this the result of the ‘new’ economy where people change jobs frequently? If so, what a terrible side effect. When I acquire real estate, I keep it.

1. The insurance industry – for proof of that in my opinion just watch “Real Wives of Orange County”

Go ahead, flame me, I don’t care.

[paramount]

“If you decide to call her, use my name as a referral. She does not take on alot of new clients without a referral of some kind. 949-859-0808 is her office number. I know that Adam ( SD Realtor ) is working with her after dealing with her during my last home purchase, where he represented me.

She refuses to take on marginal clients, but has always gotten me the lowest rates I could ever find and prefers doing no cost loans. She does not need the money at this point in her life, so she picks her clients versus just dealing with anyone.”

Why not just go to a big bank? If you can’t get a mortgage at Wells Fargo, BofA or similar type bank, you probably should not be in the market for a mortgage.

Now for my rant: 1st of all I want to identify what I think are the Top 3 scam/bloodsucking industries in America:

1. Mortgage industry/brokers: “She does not need the money” These mortgage brokers get paid more than surgeons – where in the hell are our values in this country?! 95% of all mortgage brokers are scam artists IMO.

1. Real Estate Agents – when I grew up I didn’t even know of a real estate agent. Now they’re everywhere – is this the result of the ‘new’ economy where people change jobs frequently? If so, what a terrible side effect. When I acquire real estate, I keep it.

1. The insurance industry – for proof of that in my opinion just watch “Real Wives of Orange County”

Go ahead, flame me, I don’t care.

[paramount]

“If you decide to call her, use my name as a referral. She does not take on alot of new clients without a referral of some kind. 949-859-0808 is her office number. I know that Adam ( SD Realtor ) is working with her after dealing with her during my last home purchase, where he represented me.

She refuses to take on marginal clients, but has always gotten me the lowest rates I could ever find and prefers doing no cost loans. She does not need the money at this point in her life, so she picks her clients versus just dealing with anyone.”

Why not just go to a big bank? If you can’t get a mortgage at Wells Fargo, BofA or similar type bank, you probably should not be in the market for a mortgage.

Now for my rant: 1st of all I want to identify what I think are the Top 3 scam/bloodsucking industries in America:

1. Mortgage industry/brokers: “She does not need the money” These mortgage brokers get paid more than surgeons – where in the hell are our values in this country?! 95% of all mortgage brokers are scam artists IMO.

1. Real Estate Agents – when I grew up I didn’t even know of a real estate agent. Now they’re everywhere – is this the result of the ‘new’ economy where people change jobs frequently? If so, what a terrible side effect. When I acquire real estate, I keep it.

1. The insurance industry – for proof of that in my opinion just watch “Real Wives of Orange County”

Go ahead, flame me, I don’t care.

[HLS]

Your assertions are partially correct.

However, mortgage brokers don’t get “paid” anything UNLESS they charge the borrower a fee for their service
OR
overcharge the borrower in rate and get a commission back from the lender.
It’s a reward for screwing the borrower into a higher rate than they actually qualify for. The lender gets a higher return for the life of the loan and shares the bounty with the mortgage salesperson. Welcome to America.

The don’t get a penny if they offer the borrower the PAR rate. It’s all highly regulated beyond what most people know.
Paying a fair fee to get the PAR rate in the best loan that they qualify for is what most people should do, assuming that they plan on keeping the loan for at least 5 years.

Assuming that ” a big bank” will give you the best rate is simply ignorant.

Most people have no idea what they actually qualify for.

The service that one should be paying for, is to have someone get them a PAR rate, and have their loan choices and options explained to them in words that they can understand.

Banks have retail prices and wholesale prices. When you deal direct, you are dealing with a “retail” salesperson who has limited products to offer, and are at their mercy in both knowledge & programs.

It MUST be disclosed on your escrow statement if a commission was earned by a mortgage broker.
Banks and direct lenders do NOT have to disclose that you were overcharged, it’s internal and the salesperson may not even know it. There actually is a purpose for an honest person to get you into a loan, the problem is finding one.
Your 95% is probably pretty accurate.

Anybody who plans on keeping their loan for 5+ years is usually making a poor decision to get a “no cost” loan.
It will cost much more in the long run.

Most people have been screwed on their loans in either rate, fee or term; and it was often by a family member, friend or neighbor.

Shopping for a rate is silly. Shopping for a person to trust isn’t.

By your logic, if you don’t shop at Albertson’s, Vons or Ralphs, does that mean that you shouldn’t be buying groceries ?

[HLS]

Your assertions are partially correct.

However, mortgage brokers don’t get “paid” anything UNLESS they charge the borrower a fee for their service
OR
overcharge the borrower in rate and get a commission back from the lender.
It’s a reward for screwing the borrower into a higher rate than they actually qualify for. The lender gets a higher return for the life of the loan and shares the bounty with the mortgage salesperson. Welcome to America.

The don’t get a penny if they offer the borrower the PAR rate. It’s all highly regulated beyond what most people know.
Paying a fair fee to get the PAR rate in the best loan that they qualify for is what most people should do, assuming that they plan on keeping the loan for at least 5 years.

Assuming that ” a big bank” will give you the best rate is simply ignorant.

Most people have no idea what they actually qualify for.

The service that one should be paying for, is to have someone get them a PAR rate, and have their loan choices and options explained to them in words that they can understand.

Banks have retail prices and wholesale prices. When you deal direct, you are dealing with a “retail” salesperson who has limited products to offer, and are at their mercy in both knowledge & programs.

It MUST be disclosed on your escrow statement if a commission was earned by a mortgage broker.
Banks and direct lenders do NOT have to disclose that you were overcharged, it’s internal and the salesperson may not even know it. There actually is a purpose for an honest person to get you into a loan, the problem is finding one.
Your 95% is probably pretty accurate.

Anybody who plans on keeping their loan for 5+ years is usually making a poor decision to get a “no cost” loan.
It will cost much more in the long run.

Most people have been screwed on their loans in either rate, fee or term; and it was often by a family member, friend or neighbor.

Shopping for a rate is silly. Shopping for a person to trust isn’t.

By your logic, if you don’t shop at Albertson’s, Vons or Ralphs, does that mean that you shouldn’t be buying groceries ?

[HLS]

Your assertions are partially correct.

However, mortgage brokers don’t get “paid” anything UNLESS they charge the borrower a fee for their service
OR
overcharge the borrower in rate and get a commission back from the lender.
It’s a reward for screwing the borrower into a higher rate than they actually qualify for. The lender gets a higher return for the life of the loan and shares the bounty with the mortgage salesperson. Welcome to America.

The don’t get a penny if they offer the borrower the PAR rate. It’s all highly regulated beyond what most people know.
Paying a fair fee to get the PAR rate in the best loan that they qualify for is what most people should do, assuming that they plan on keeping the loan for at least 5 years.

Assuming that ” a big bank” will give you the best rate is simply ignorant.

Most people have no idea what they actually qualify for.

The service that one should be paying for, is to have someone get them a PAR rate, and have their loan choices and options explained to them in words that they can understand.

Banks have retail prices and wholesale prices. When you deal direct, you are dealing with a “retail” salesperson who has limited products to offer, and are at their mercy in both knowledge & programs.

It MUST be disclosed on your escrow statement if a commission was earned by a mortgage broker.
Banks and direct lenders do NOT have to disclose that you were overcharged, it’s internal and the salesperson may not even know it. There actually is a purpose for an honest person to get you into a loan, the problem is finding one.
Your 95% is probably pretty accurate.

Anybody who plans on keeping their loan for 5+ years is usually making a poor decision to get a “no cost” loan.
It will cost much more in the long run.

Most people have been screwed on their loans in either rate, fee or term; and it was often by a family member, friend or neighbor.

Shopping for a rate is silly. Shopping for a person to trust isn’t.

By your logic, if you don’t shop at Albertson’s, Vons or Ralphs, does that mean that you shouldn’t be buying groceries ?

[HLS]

Your assertions are partially correct.

However, mortgage brokers don’t get “paid” anything UNLESS they charge the borrower a fee for their service
OR
overcharge the borrower in rate and get a commission back from the lender.
It’s a reward for screwing the borrower into a higher rate than they actually qualify for. The lender gets a higher return for the life of the loan and shares the bounty with the mortgage salesperson. Welcome to America.

The don’t get a penny if they offer the borrower the PAR rate. It’s all highly regulated beyond what most people know.
Paying a fair fee to get the PAR rate in the best loan that they qualify for is what most people should do, assuming that they plan on keeping the loan for at least 5 years.

Assuming that ” a big bank” will give you the best rate is simply ignorant.

Most people have no idea what they actually qualify for.

The service that one should be paying for, is to have someone get them a PAR rate, and have their loan choices and options explained to them in words that they can understand.

Banks have retail prices and wholesale prices. When you deal direct, you are dealing with a “retail” salesperson who has limited products to offer, and are at their mercy in both knowledge & programs.

It MUST be disclosed on your escrow statement if a commission was earned by a mortgage broker.
Banks and direct lenders do NOT have to disclose that you were overcharged, it’s internal and the salesperson may not even know it. There actually is a purpose for an honest person to get you into a loan, the problem is finding one.
Your 95% is probably pretty accurate.

Anybody who plans on keeping their loan for 5+ years is usually making a poor decision to get a “no cost” loan.
It will cost much more in the long run.

Most people have been screwed on their loans in either rate, fee or term; and it was often by a family member, friend or neighbor.

Shopping for a rate is silly. Shopping for a person to trust isn’t.

By your logic, if you don’t shop at Albertson’s, Vons or Ralphs, does that mean that you shouldn’t be buying groceries ?

[HLS]

Your assertions are partially correct.

However, mortgage brokers don’t get “paid” anything UNLESS they charge the borrower a fee for their service
OR
overcharge the borrower in rate and get a commission back from the lender.
It’s a reward for screwing the borrower into a higher rate than they actually qualify for. The lender gets a higher return for the life of the loan and shares the bounty with the mortgage salesperson. Welcome to America.

The don’t get a penny if they offer the borrower the PAR rate. It’s all highly regulated beyond what most people know.
Paying a fair fee to get the PAR rate in the best loan that they qualify for is what most people should do, assuming that they plan on keeping the loan for at least 5 years.

Assuming that ” a big bank” will give you the best rate is simply ignorant.

Most people have no idea what they actually qualify for.

The service that one should be paying for, is to have someone get them a PAR rate, and have their loan choices and options explained to them in words that they can understand.

Banks have retail prices and wholesale prices. When you deal direct, you are dealing with a “retail” salesperson who has limited products to offer, and are at their mercy in both knowledge & programs.

It MUST be disclosed on your escrow statement if a commission was earned by a mortgage broker.
Banks and direct lenders do NOT have to disclose that you were overcharged, it’s internal and the salesperson may not even know it. There actually is a purpose for an honest person to get you into a loan, the problem is finding one.
Your 95% is probably pretty accurate.

Anybody who plans on keeping their loan for 5+ years is usually making a poor decision to get a “no cost” loan.
It will cost much more in the long run.

Most people have been screwed on their loans in either rate, fee or term; and it was often by a family member, friend or neighbor.

Shopping for a rate is silly. Shopping for a person to trust isn’t.

By your logic, if you don’t shop at Albertson’s, Vons or Ralphs, does that mean that you shouldn’t be buying groceries ?

[Rich Toscano]

You already got some suggestions but I will throw in one more — my colleague from my “day job” is a mortgage broker among other things. John Simon, [email protected]. He’s extremely honorable and smart, and he’s never written a neg-am or IO loan (and I think maybe only one or two adjustable rate loans).

Rich

[Rich Toscano]

You already got some suggestions but I will throw in one more — my colleague from my “day job” is a mortgage broker among other things. John Simon, [email protected]. He’s extremely honorable and smart, and he’s never written a neg-am or IO loan (and I think maybe only one or two adjustable rate loans).

Rich

[Rich Toscano]

You already got some suggestions but I will throw in one more — my colleague from my “day job” is a mortgage broker among other things. John Simon, [email protected]. He’s extremely honorable and smart, and he’s never written a neg-am or IO loan (and I think maybe only one or two adjustable rate loans).

Rich

[Rich Toscano]

You already got some suggestions but I will throw in one more — my colleague from my “day job” is a mortgage broker among other things. John Simon, [email protected]. He’s extremely honorable and smart, and he’s never written a neg-am or IO loan (and I think maybe only one or two adjustable rate loans).

Rich

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