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_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":[4,26],"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":810,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/810\/a-realtors-guide-to-alien-lenders-2\/","url_meta":{"origin":2962,"position":0},"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":3185,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/3185\/whos-a-mortgage-fiduciary\/","url_meta":{"origin":2962,"position":1},"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":3366,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/3366\/greed-is-good-but-greedy\/","url_meta":{"origin":2962,"position":2},"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":967,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/967\/a-selfish-case-for-national-originator-licensing\/","url_meta":{"origin":2962,"position":3},"title":"A Selfish Case for National Originator Licensing","author":"Brian Brady","date":"January 29, 2007","format":false,"excerpt":"There is a movement to create a national licensing platform for loan originators similar to the one the National Association of Securities Dealers (NASD) requires for registered representatives. Supporters of this movement claim that originators must be licensed because the quality of advice given to the consumer is woefully inadequate.\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":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":6681,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/6681\/david-bartels-redefines-mortgage-originators-as-borrower-advocates\/","url_meta":{"origin":2962,"position":5},"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":[]}],"_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}]}}