"I gotcha. I only say because certain mortgage companies have a minimum comission that they have to cover in order to do the loan. I've worked for companies in the past that require the bank/banker/mortgage company to make at least 3k or they would not do the loan. Larger loan sizes it's customary to make 1-1.5% but on smaller sizes around 100-150k you would need to make 2%-3% to cover expenses. Some it not most banks actually penalize you for smaller loan sizes because of this. Good Luck..."    View Post

""I just don't want to wait until closing or a couple of days before and find out that the YSP are excessive. I think 1.5-2% should be enough compensation for the work involved" On a 100k loan 1.5% to 2% is a VERY LOW number. What do you base your assumption that it SHOULD be enough compensation?"    View Post

"I've been with the same mortgage banker for 4 years and I am now looking for a new home to hang my hat. I don't want to go into too many details on a public forum but the time has come to make a clean break. That said what organizations and or banks should I be reaching out to? I have been in mortgages since 2001 starting as a loan processor then an underwriter then closing manager for a large NYC lender before going into sales where I've acted as a broker before helping start a wholesale..."    View Post

"I'm a correspondent lender and we have no information just yet. I also have wholesale relationships as well and haven't had any formal information yet. I'm also waiting on the Fannie Conf Agency loan limits to go back to 2008 levels and have no sense when that will happen either. Clients are getting frustrated waiting for these answers."    View Post