Comments on: Transparent Fixed Fees Could Save Mortgage Broker Business Model http://thexbroker.com/2006/09/09/fixed-fees-for-a-broken-business/ Thu, 10 May 2012 07:34:26 -0800 http://wordpress.org/?v=2.8.4 hourly 1 By: Michael Cauley http://thexbroker.com/2006/09/09/fixed-fees-for-a-broken-business/comment-page-1/#comment-4758 Michael Cauley Fri, 13 Mar 2009 18:22:04 +0000 http://xbroker.realestatetomato.net/2006/09/09/fixed-fees-for-a-broken-business/#comment-4758 I am always amazed at the simplicity of describing the only originators serving the public are Mortgage Broker/Banker. The banks (depository, not mortgage banks) have originators. Bean counting has its place, but certainly can be used in a myopic analysis which misses out on bigger picture of business purpose.<br><br>Relative to a new business model, if a professional has a model that is serving its client/customers desires; the proper advice would be to investigate an additional business model if it desired a different client/customer experience. Too often one person bombs out with a business model while another flourishes. Fortunately, we have a diverse society with many different desires on how they would like to be served. Just look at the range from Walmart to Neiman Marcus and all those in between.<br><br>What you have described is more of a communist business model where there is no differentiation; just a very sterile consumer choice.<br><br>Thank goodness for consumer variety and choice. I am always amazed at the simplicity of describing the only originators serving the public are Mortgage Broker/Banker. The banks (depository, not mortgage banks) have originators. Bean counting has its place, but certainly can be used in a myopic analysis which misses out on bigger picture of business purpose.

Relative to a new business model, if a professional has a model that is serving its client/customers desires; the proper advice would be to investigate an additional business model if it desired a different client/customer experience. Too often one person bombs out with a business model while another flourishes. Fortunately, we have a diverse society with many different desires on how they would like to be served. Just look at the range from Walmart to Neiman Marcus and all those in between.

What you have described is more of a communist business model where there is no differentiation; just a very sterile consumer choice.

Thank goodness for consumer variety and choice.

]]> By: The XBroker http://thexbroker.com/2006/09/09/fixed-fees-for-a-broken-business/comment-page-1/#comment-13 The XBroker Tue, 05 Feb 2008 21:56:02 +0000 http://xbroker.realestatetomato.net/2006/09/09/fixed-fees-for-a-broken-business/#comment-13 Yes...it's very common. YSP (all fees) should have been disclosed well prior to closing for your review, at least 72 hrs. YSP is paid in one lump some at the close of the loan...if someone told you they were receiving YSP in increments, this probably means 'under the table'...interesting question, care to elaborate? Yes…it’s very common. YSP (all fees) should have been disclosed well prior to closing for your review, at least 72 hrs.

YSP is paid in one lump some at the close of the loan…if someone told you they were receiving YSP in increments, this probably means ‘under the table’…interesting question, care to elaborate?

]]> By: Gigi http://thexbroker.com/2006/09/09/fixed-fees-for-a-broken-business/comment-page-1/#comment-14 Gigi Tue, 05 Feb 2008 21:46:26 +0000 http://xbroker.realestatetomato.net/2006/09/09/fixed-fees-for-a-broken-business/#comment-14 Is it legal for a broker to charge the client a point, loan fees, and get a Yield Spread Premium all together on one loan? Also, is the yield spread premium paid by a lender to the broker paid to them in one lump sum at the close of the loan or in increments? Thank you for your assistance, Gigi Is it legal for a broker to charge the client a point, loan fees, and get a Yield Spread Premium all together on one loan? Also, is the yield spread premium paid by a lender to the broker paid to them in one lump sum at the close of the loan or in increments?

Thank you for your assistance, Gigi

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