Banks vs. Mortgage Brokers

The age old debate continues. There is plenty in the media about the Evils of Mortgage Brokers. Recently HUD cam out with a 270 Page report stating borrowers got better deals on average from banks vs brokers. I say the facts were right but the data is skewed.

I contend that the difference is in part due to the Slime Factor. Yes, there are plenty of slimy Loan Officers on both the Bank and the Broker side. However I think there are far more on the Broker side. That's what skewed the numbers.

I suggested if that had they run the same numbers, sifting out the slime on both sides, and using only the knowledgeable, honest, ethical loan officers on both sides, she would be writing a different story.

Remember, you have the choice to work with an honest, ethical Loan Officer, or not. That Loan Officer may work as a Mortgage Broker or for a Bank. Slime happens on both sides of the isle. Borrowers that chase rates often end up getting Slimed.

Category:

Education

Tags:

• mortgage
• brokers
• scams.
• lies

[LJMIER]

Man I really don't like you!! You just look like you would rip someone off

[desithug4lyf]

this is bit helpful but i would like to add something to be careful of ...some mortage brokers will just huk you up with some bank just to get there own comition and not rreally thinking of whatz best for me !

[mannyfeseha]

thehelpfund.blogspot

[pwcrealtor]

great comparison. I have treid to stay with a mortgage broker but many cannot survive in my local market due to the numbers of sellers who do not accept brokered loans the the number of banks that are not brokering out loans at all

[AppraiserRealtor]

OK, so both video responses ended up there...oh well. Job well done, Mike.