MEDICAL CARE – 76% of Americans do not believe that higher-priced doctors provide better medical care than lower-priced doctors (source: Kaiser Family Foundation). “I wonder how this same stat plays in the mortgage market.”–Dan Green

My gosh! The American psyche is extremely cost driven, even in the arena of medical care.

In line with answering Dan’s question, 100% of Americans should not believe higher priced ‘mortgage care’ equals better service. Are you a broker or banker guilty of Mortgage Malpractice? Put yourself to the test:

Do you depend on a consumers lack of knowledge to enrich yourself? Are you a Banker (or broker) that does not disclose 100% of YSP’s, per their definition?

If any YSP is generated on a mortgage loan do you disclose to the borrower they qualify for a lower rate or reduced costs?

Have you floated a rate when a client told you to lock? Are you selling the value of mortgage services based on points rather that dollars?

Like medical malpractice, incorrect mortgage procedures and non-disclosures can land you in a hot place, even if you think you’re covered…