{"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_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":"","jetpack_post_was_ever_published":false},"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":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":2},"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":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":3},"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":2884,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2884\/zillowcoms-long-awaited-mortgage-lending-service-to-offer-anonymous-customized-loan-quotes-to-consumers-affording-loan-originators-the-opportunity-to-compete-transparently-for-free-mortgage-leads\/","url_meta":{"origin":2892,"position":4},"title":"Zillow.com’s long-awaited mortgage lending service offers anonymous customized loan quotes to consumers, affording loan originators the opportunity to compete transparently for free mortgage leads","author":"Greg Swann","date":"April 2, 2008","format":false,"excerpt":"Seattle-based real estate start-up Zillow.com tonight releases its long-anticipated mortgage lending product. We've known for nearly a month that Zillow's offering would include working loan originators in some fashion. What becomes clear tonight is that Zillow will basically be acting as a hands-off intermediary between mortgage-seeking clients and loan originators.\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":2901,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2901\/zillow-mortgage-im-still-looking-for-the-yellow-brick-road\/","url_meta":{"origin":2892,"position":5},"title":"Zillow Mortgage: I’m Still Looking for the Yellow Brick Road","author":"Sean Purcell","date":"April 4, 2008","format":false,"excerpt":"There sure have been a lot of posts recently regarding Zillow Mortgage Marketplace.\u00a0 Greg Swann gave us a pre-opening preview here, the advertising aspect here, and the capitalist and cookie aspects here and here.\u00a0 Brian Brady takes a \u201cthe last shall be first\u201d attitude here and presents Zillow Mortgage as\u2026","rel":"","context":"In "Zillow.com"","block_context":{"text":"Zillow.com","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/zillowcom\/"},"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}]}}