Archive for September, 2006
Roots of The XBroker.
September 2nd, 2006 Categories: Mortgage News
The seed was planted two years ago when I decided to reinvent my own mortgage brokerage—a traditional operation on the East Coast. Tired of peddling ‘low rates’ and ‘great service’ while competing with 4000 other mortgage monkeys, I had the ‘novel’ idea of marketing a mortgage business that only tells and sells the truth and provides service for a transparent flat fee.
We would explain how brokers make money, YSP, junk fees, display par rates, etc. I rationalized that if telling ‘The Truth’ differentiates you from 95% of your competition; there is a big problem and thus a big opportunity. Now, don’t mistake me for an innocent broker, my businesses made money doing things the ‘traditional way’; steering, fee gouging, deception, whatever it took to close a deal. If you know who Frank Abingale Jr. is, then you can appreciate the relative value of information I am providing.
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