By Jack Guttentag The Mortgage Professor, Chairman of Upfront Mortgage Brokers Association April 24, 2012 “I refinanced last year and negotiated the fee I paid the mortgage broker. Now, I want to refinance again to take advantage of lower rates, and my broker tells me that

By Sharon Lowry Your mortgage professional should meet the following qualities in order to provide you with the best mortgage financing advice & experience.  Your mortgage professional’s job is to provide you with the best financing experience possible.  This includes finding the right loan for

Accurate pricing depends on a number of borrower, property, and transaction characteristics. If these are not known or used, the price cannot be accurate. Loan originators who quote the best prices possible — and sometimes even better than the best possible — with the intent of roping in the customer are low-balling…

In the past 10 years, I have written almost 50 articles on different mortgage broker topics, but none of them addressed the most basic topic of all: What makes a good broker? Perhaps it took 10 years before I was ready to confront this question, along with its obvious corollary: How do you know a good broker when you see one?

At a customer’s request, UMBs disclose their fees to customers in writing and in advance. At the customer’s request, UMBs also disclose the wholesale prices (rates and points) they receive from lenders. Customers of UMBs pay the broker’s fee plus wholesale loan prices…