{"id":2892,"date":"2008-04-04T10:08:39","date_gmt":"2008-04-04T17:08:39","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=2892"},"modified":"2008-04-04T10:08:39","modified_gmt":"2008-04-04T17:08:39","slug":"zillow-mortgage-marketplace-one-way-transparency-like-a-bad-online-dating-site","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2892\/zillow-mortgage-marketplace-one-way-transparency-like-a-bad-online-dating-site\/","title":{"rendered":"Zillow Mortgage Marketplace: One Way Transparency Like A Bad Online Dating Site"},"content":{"rendered":"

Zillow Mortgage MarketPlace rang the opening bell<\/a> and loan requests came flying in the door. I was pleasantly flabbergasted! It’s no secret that I’m a Zillow-phile; I believe they are leading the way to transparent loan and real estate transactions.<\/p>\n

I’m tenuous, however, about spending too much time there. My comments at BusinessWeek<\/a>:<\/p>\n

Brian Brady, managing director at San Diego’s World Wide Credit, a national lender and broker, said he signed up for the Zillow mortgage marketplace a few weeks ago and has mixed feelings about it. <\/em><\/p>\n

Advice Needed?<\/em><\/h3>\n

He said it has the potential to be a great tool for both consumers and lenders. But he’s concerned that borrowers will be seeking quotes without first getting advice from mortgage professionals about the loan that best fits their needs. <\/em><\/p>\n

He’s also concerned about the kinds of leads the site might generate. <\/em><\/p><\/blockquote>\n

“Zillow is going in the right direction, in that the consumer gets to rate us as [loan] originators,” Brady said. “I certainly wish it were a mutual rating system because customers need to be rated, too.”<\/em><\/p><\/blockquote>\n

Take a second look at my final comment. Consumers should be rated, too.<\/strong> The challenge for quality originators, today, is time. With so many loan applications that are unable to be funded, we have to be judicious about where we spend our time. My concern is that I’m shooting craps with loaded dice when I engage in anonymous quoting; I have little upside. If I deliver a great quote, I am rewarded with an opportunity to “sell” a new customer. If the customer is disingenuous about her information, I am accused of delivering a “phony quote” and am rated poorly, within the community.<\/p>\n

Wade Young expands upon my concern on Lenderama<\/a>:<\/p>\n

When I pull the actual credit, I\u2019m not going to be able to make good on what the Zillow consumer will most definitely consider to be a \u201cpromise\u201d made by me via my rate quote. The lady gives me one star (undeservedly, of course), and I move on to other things. <\/em><\/p><\/blockquote>\n

Wade is more concerned about the Read more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Zillow Mortgage MarketPlace rang the opening bell and loan requests came flying in the door. I was pleasantly flabbergasted! It’s no secret that I’m a Zillow-phile; I believe they are leading the way to transparent loan and real estate transactions. I’m tenuous, however, about spending too much time there. My comments at BusinessWeek: Brian Brady, […]<\/p>\n","protected":false},"author":15,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4,29,26,25],"tags":[],"class_list":{"0":"post-2892","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-disintermediation","7":"category-group-therapy","8":"category-lending","9":"category-zillowcom","11":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":3237,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/3237\/zillow-mortgage-must-verify-consumers-to-become-a-marketplace\/","url_meta":{"origin":2892,"position":0},"title":"Zillow Mortgage Must Verify Consumers To Become A Marketplace","author":"Brian Brady","date":"June 16, 2008","format":false,"excerpt":"Mike Mueller is leaving the Zillow Mortgage Marketplace. A poor consumer performance review drove him to do just that. From the consumer review on Zillow Mortgage: Rating: 1 \/ 5 Comment: I asked for conforming quote, got sent jumbo quote with huge fees. I even specifically noted the request in\u2026","rel":"","context":"In "Lending"","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2904,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2904\/zillow-mortgage-bourse-how-to-acquire-long-term-clients\/","url_meta":{"origin":2892,"position":1},"title":"Zillow Mortgage Bourse: How To Acquire Long-Term Clients","author":"Brian Brady","date":"April 5, 2008","format":false,"excerpt":"I might have been hasty in my original assessment of the Zillow Mortgage Bourse. I sometimes suffer from TB; true believer disease. I'm one of the few guys in the mortgage business that actually wants to see the cost of loan acquisition, for the consumer, dramatically reduced. I have never\u2026","rel":"","context":"In "Lending"","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2910,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2910\/the-odysseus-medal-competition-voting-for-the-peoples-choice-award-is-open-25\/","url_meta":{"origin":2892,"position":2},"title":"The Odysseus Medal competition — Voting for the People’s Choice Award is open","author":"Greg Swann","date":"April 6, 2008","format":false,"excerpt":"We have 14 entries on the short list this week, out of a long long list of 96 posts. I've already decided on the winner of the Odysseus Medal, so I'm not linking that way. This week's Short List is all Zillow Mortgage Marketplace posts, all of them written by\u2026","rel":"","context":"In "Blog Carnivals"","block_context":{"text":"Blog Carnivals","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/blog-carnivals\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2958,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2958\/zillowcoms-mortgage-marketplace-brings-anonymous-apples-to-apples-mortgage-rate-quotes-to-consumers-free-consumer-leads-to-lenders\/","url_meta":{"origin":2892,"position":3},"title":"Zillow.com’s Mortgage Marketplace brings anonymous apples-to-apples mortgage rate quotes to consumers, free consumer leads to lenders","author":"Greg Swann","date":"April 13, 2008","format":false,"excerpt":"This is my column for this week from the Arizona Republic (permanent link): \u00a0Zillow.com's Mortgage Marketplace brings anonymous apples-to-apples mortgage rate quotes to consumers, free consumer leads to lenders Wouldn't it be great if you could get a broad array of mortgage quotes without having to make dozens of phone\u2026","rel":"","context":"In "Disintermediation"","block_context":{"text":"Disintermediation","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/disintermediation\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2716,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2716\/zillow-mortgage-zoriginators-delight-or-bane\/","url_meta":{"origin":2892,"position":4},"title":"Zillow Mortgage: Zoriginators’ Delight or Bane?","author":"Brian Brady","date":"March 7, 2008","format":false,"excerpt":"Greg Swann covered the big Zillow Mortgage announcement so I won't regurgitate the details here.\u00a0 I will weigh in my opinion and speculate about the consumer offering. I share Greg's enthusiasm for an independent originator database.\u00a0 The industry can't get it together and the Federal government may be violating the\u2026","rel":"","context":"In "Lending"","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2717,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2717\/mortgage-complaint-welcome-to-the-world-of-consumer-policing-at-zillow-mortgage\/","url_meta":{"origin":2892,"position":5},"title":"Mortgage Complaint? Welcome to The World Of Consumer-Policing at Zillow Mortgage","author":"Brian Brady","date":"March 7, 2008","format":false,"excerpt":"How can Zillow Mortgage become the online edition of the Better Business Bureau for mortgage lending? It just did. The future of consumer complaints is in transparency; breaking down the walls of the \"smoke filled rooms\" where industry insiders shear sheep and protect their own. This mortgage crisis has seen\u2026","rel":"","context":"In "Lending"","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/2892","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=2892"}],"version-history":[{"count":0,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/2892\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=2892"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=2892"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=2892"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}