Does the bank
pay your fee, and if so, does it cost the borrower more to use Greenbacks'
services?
There are many misleading articles stating that banks pay Mortgage brokers'
fees; Or, it costs more to use a Mortgage broker. These articles, are not
completely accurate, and focus on only unscrupulous practices in the mortgage
industry. These articles leave out the tremendous financial benefits to be
derived by using an ethical and professionally trained mortgage company. People
who read and follow the advice of these articles are potentially depriving
themselves of saving thousands of dollars. We have saved our clients thousands
of dollars just by selecting the best mortgage product (fixed vs. adj.). Most
consumers focus on products they are familiar with. Ignorance is not always
bliss. We expose borrowers to options they never would have known about nor
considered. There are lenders that only prefer to deal with mortgage brokers.
Borrowers might not even have known that these companies' exist if not for us.
We provide banks with quality applicants and professionally prepared loan
packages. In return, they offer origination fee (points) discounts to our
company. We then competitively price the mortgage money and pass this along to
our clients, but, in addition, we service all our clients in a private banking
fashion. A service similarly offered to only the banks wealthiest of clients.
There are times when the borrower never would have been accepted if not for our
ability to package a loan the way banks prefer, or sell the strong points of a
borrower. We have obtained loans for borrowers turned down by banks they
approached directly. How can you put a price on an ability to put a borderline
applicant into a home. Yet, we do this as part of our daily service.
The only borrowers that really pay way above market rates, are borrowers whose
credit history demonstrates an inability to make payments on time and
consequently poses a greater risk to a lender, and, a borrower who places his
trust in an untrustworthy greedy persons hand.
Most consumers should realize that fees are paid directly or indirectly by them.
It becomes a question of accounting as to who actually issues the check to the
broker the bank or the borrower. As in all industries, there will always be
companies that are priced lower and companies that are priced higher. In any
case, our analyses and placement will save the borrower: 1. Thousands of dollars
by choosing the right mortgage for them, 2. Choosing the right lender and saving
them recurring application fees, 3. Offering origination fee discounts based on
the loan amount, and 4. Obtaining the most competitive interest rate for their
circumstances.
Our Guarantee
