Originator: I’m being paid $7, 000 from the lender because you chose a rate of 6%<\/p>\n
Client: Got it. Cool, thanks for saving me money<\/em><\/p>\n Originator: If you chose a rate of 5.5%, YOU would have to pay me my $7,000<\/p>\n Happy Client: Understood. I’m down. Let’s roll with the 6% option.<\/em><\/p>\n Originator: You realize that if you negotiated better, I might have done it for less? It would have depended upon the demand for my services.<\/p>\n Confused Client: I’m sure I could have gone to Zillow and gotten a better price but I was impressed with your execution<\/a>– I think it’ll save me a lot of money. Your blogging efforts convinced me that I need to be in relationship with you.<\/em><\/p>\n Originator: I just want you to affirm that I’m worth every single penny of my fee. I’m not a discount mortgage broker; I’M A PROFESSIONAL. You’ll also notice that I didn’t opt to put an anonymous rate search widget, like this<\/a> or this<\/a>, on my website.<\/p>\n Irritated Client: Understood. I trust you.<\/em><\/p>\n Originator: Transparency is great, isn’t it? You made the right choice.<\/p>\n Frustrated Client: You’re so smart. You’re so strong. You’re the best choice for me.<\/em><\/p>\n Originator: In the interest of transparency, should I drop my trousers to prove it?<\/p>\n Lost Client: Good bye. <\/em><\/p>\n My admiration for what Zillow has given the lending community is clear<\/a>. I love that they’ve created a virtual Bourse for mortgages<\/a> because I think like a trader. If my pipeline dries up, I’ll be in there, slogging it away. There’s a difference between playing by their rules, on THEIR platform, and adopting that “shopping technology” on my platform.<\/p>\n I’m virile but I don’t walk on the beach, in a Speedo, to prove it. Maybe that makes me deceitful, maybe it just makes me…<\/p>\n …smart.<\/p>\n","protected":false},"excerpt":{"rendered":" Originator: I’m being paid $7, 000 from the lender because you chose a rate of 6% Client: Got it. Cool, thanks for saving me money Originator: If you chose a rate of 5.5%, YOU would have to pay me my $7,000 Happy Client: Understood. I’m down. Let’s roll with the 6% option. Originator: You realize […]<\/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":[4,26],"tags":[],"class_list":{"0":"post-2962","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-disintermediation","7":"category-lending","9":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":3366,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/3366\/greed-is-good-but-greedy\/","url_meta":{"origin":2962,"position":0},"title":"Greed is Good, but Greedy?","author":"Sean Purcell","date":"July 16, 2008","format":false,"excerpt":"In a comment on a recent post, I shared with David Shafer\u00a0the \"revulsion that an ignorant, greedy originator causes.\"\u00a0 The Great and Powerful Oz - one of the sharpest minds in lending... actually just one of the sharpest minds\u00a0period -\u00a0called me on it and asked if I might\u00a0define \"greedy originator\".\u00a0\u2026","rel":"","context":"In "Real Estate"","block_context":{"text":"Real Estate","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/real-estate\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":810,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/810\/a-realtors-guide-to-alien-lenders-2\/","url_meta":{"origin":2962,"position":1},"title":"A Realtor’s Guide to Alien Lenders","author":"Brian Brady","date":"December 26, 2006","format":false,"excerpt":"\"First you get the money, then you get the power, then you get the ....\" -Tony Montana in the movie, Scarface The professional Realtor has always helped a would be homebuyer by referring her to a credible financing source. That paradigm has shifted much in the past few years as\u2026","rel":"","context":"In "Enduring Interest"","block_context":{"text":"Enduring Interest","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/enduring-interest\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6681,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/6681\/david-bartels-redefines-mortgage-originators-as-borrower-advocates\/","url_meta":{"origin":2962,"position":2},"title":"David Bartels Redefines Mortgage Originators as “Borrower Advocates”","author":"Brian Brady","date":"January 23, 2009","format":false,"excerpt":"I had fun today because\u00a0 I got to hang out with a bunch of mortgage salespeople.\u00a0 I drove up the 5 to Irvine, epicenter of the sub-prime mortgage industry, to see the High Performance Strategies Seminar, hosted by David Bartels and Greg Frost.\u00a0 David Bartels is an executive with Loan\u2026","rel":"","context":"In "Real Estate"","block_context":{"text":"Real Estate","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/real-estate\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3185,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/3185\/whos-a-mortgage-fiduciary\/","url_meta":{"origin":2962,"position":3},"title":"Who’s a Mortgage Fiduciary?","author":"Brian Brady","date":"May 31, 2008","format":false,"excerpt":"Are you ready for the next big argument about fiduciary capacity? It's coming in the form of national loan originator licensing and it promises to be a doozy. The Federal Housing Finance and Regulatory Reform Act of 2008 is proposed legislation that seeks to license anyone who quotes rates or\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":2901,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2901\/zillow-mortgage-im-still-looking-for-the-yellow-brick-road\/","url_meta":{"origin":2962,"position":4},"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":[]},{"id":18696,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/18696\/lenders-can-help-realtors-get-offers-accepted-in-a-competitive-market\/","url_meta":{"origin":2962,"position":5},"title":"Lenders can help Realtors get offers accepted in a competitive market","author":"Brian Brady","date":"April 14, 2022","format":false,"excerpt":"Most buyers find themselves in a multiple offer situation in today's market.\u00a0 While the highest price often wins the home, other factors come into play--some buyers are waiving appraisal, loan, and even inspection contingencies.\u00a0 Selling agents who want to protect their buyers, while affording them an \"edge\" against competing offers,\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\/2962","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=2962"}],"version-history":[{"count":0,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/2962\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=2962"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=2962"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=2962"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}