Quicken – Lending Tree & Other Smoke and Mirrors

by Snets ~ July 21st, 2011. Filed under: Blog.

First of all – this is NOT an instruction to you to avoid calling these places.  Go ahead…  These are mostly lead capturing services – the lead will be farmed out to numerous mortgage companies who will fill up your inbox and ring your phone off the hook.

What everyone has to understand is that there are no “economies of scale” in the mortgage business.  What I am talking about is, there is no concept like where a Wal Mart, with their tremendous buying power, can sell bicycles cheaper than the local store can buy them for.  If there was, micro companies such as myself, could never exist.  Mortgage rates are basically set with economic factors – there are no volume discounts (not exactly true but these don’t make much of a difference)

My advice to you is check these companies out – if you can stand the amount of soliciting you will get bombarded with – then check out a company like mine.

You will find these MAJOR differences:

1.  I have had the same phone number for 20 years.  If you call it at 2:00 in the morning – I will answer it – try that kind of service with any bank or nameless company from a website

2.  Our rates and closing costs will just about always be lower – I mean after all, I’m not where are prosolution pills sold paying a lead generator for business – someone has to pay for it.

3.  Ok it’s two days before closing and you can’t get the guy from Omaha on the phone – what are you going to do?  You can always come and smack me over the head if you feel you haven’t been getting the service you need.

4.  You have a problem with the company you are going to deal with – what protections do you have.  Yeah there’s RESPA and all that but trust me, we fear the State of Florida and it’s investigators – we never do things that would get us in trouble because if you complain – they follow up – every single one.  If you deal with an out of state lender – they are going to tell you “Sorry – no jurisdiction”  The state has only come to my office one time – about 15 years ago – I had not filed my audited financial statements within the first 90 days (didn’t know I had to back then).  I had them when the guy got there so he didn’t make trouble but trust me – when they say jump – we say how freaking high!!!!

Well you get my point – check them out but don’t let me catch you only going that route – I know where you live.

Give us a call – can’t hurt!





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