A Surprising Rate Quote!

We recently encountered a client who was shopping around for the best loan. She called in and applied and we promptly quoted a rate for her loan scenario. At the time it was 5.875%. She then checked around with a few other lenders and one of them completely surprised her! They said they had some credit issues and anybody would be lying to her if they told her she could do any better than 6.5%!!!! WOW, that is quite a difference! She of course ended that call and contacted us again. "Is this true?" she asked. She had no idea what "problems" they could be talking about. After going over her credit report, we could not either! There were simply no issues that would hinder then from getting the loan and rate we quoted!
This is the difference between a transaction broker and a relationship broker. The transaction broker takes a client and squeezes as much out of them as possible and moves on to the next one, never to do business with them again. A relationship broker nurtures the relationship with each client, resulting in repeat business over time. The only way a client will use your services again is if you do a great job and treat them appropriately!
Lenders that quote rates and conduct business like the one mentioned above, is why our industry has a tarnished image! They take away from the majority of professionals that conduct business that way it was meant to be conducted!
Today's market is extremely difficult to navigate for lenders, realtors, appraisers, etc..
However, one good thing that will come from this tough market will be that it will weed out some of these bad apples!

Brought to you by:
Professional Mortgage Group, Inc.