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About This Commentary

The goal of the Community Commentary channel is to provide analysis and perspective on events affecting the mortgage and housing industry from members of our community that work in the marketplace on a daily basis.

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  • The Way of the Guerrilla Mortgage Warrior

    I use transparency as a weapon against the banks. I walk into a bank branch and snap a picture of their mortgage rates, on the lobby sign. I e-mail that picture with a copy of the wholesale rate sheets (from the same bank), and SHOW THE CUSTOMER HOW MUCH "SECRET PROFIT" THE BANK IS MAKING ON ITS MORTGAGES. I explain how yield spread premium can lower the portion of the mortgage brokerage fee they pay me. Sometimes, I lock the loan with the same bank and laugh along with the customer. ...
  • Mortgage Marketing with Twitter

    How powerful would it be if, as a mortgage professional, you could tell when someone looking to refinance their home was unsatisfied with their current mortgage broker? Or if another person is questioning something about the rate they got from the broker they are currently with? Or what if you could tell when someone was interested in buying a home in your city? All of this type of information is invaluable to any mortgage professional. These are hot hot hot leads, people that need your help right now. Well these same people are putting this information right out there on the internet for anyone to see; you just have to know where to look....