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Radical Transparency for the Mortgage and Real Estate Industries
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‘E-Lenders’ When Thieves Compete, You Lose

Started by JeffX · 9 months ago

There is an army of foot soldiers on the other side of these nice web façades banking on your ignorance. DiTech, Lending Tree, e-Loan, Quicken, and a slew of other ‘e-Lenders’ have created convienient web-sites to exploit and facilitate the deceptive nat ... Continue reading »

5 comments

  • There's a radio guy who has a list of "Endorsed Local Providers", I kind of like the idea of sitting down and talking with someone, explaining things and getting an honest answer about something, that might be based on a little more than just a credit score.

    Years and years ago I was in the tele-marketing field, didn't like it much then, certainly don't today, but there were those who sat next to me who could talk a dog out of his biscuit, they were good. While of course does not mean they weren't shining up the penny a little more than was needed, not false hoods, but certainly pushing the high points and avoiding the negatives.

    What we try to do, or are beginning to do is enter into dialogs with people and lenders and find out what makes them tick. Are they all in it simply for the money, or are there some that put people first.

    Is the Jimmy Steward banker (It's a Wonderful Life) gone in the annals of history or are there a few still around? Not sure and I make my living on the net, so hard to knock the "E" in lending, but we all might benefit from a good down home conversation about what ails it, be it money, politics or a creaking knee.
  • Here there is a valid point which i noted..E-lenders are likely to be much more expensive than a local mortgage brokerage..I agree with this..
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  • This works well on so many levels. Not only does it make students by definition active participants in the lesson – after all they’re having to make a choice – but it allows differentiation by task on a more subtle level. It can also support different ‘learning styles’ (if you believe in such things) www.chase.com as you can allow students to represent/record/manipulate information in various ways. For example, if you were looking at the outcomes of the Battle of Hastings in 1066 (I’m a History teacher!) you could give students the option of:
  • The RE agent drop in income story has other facets.Agents incomes are way down. The figures calculated are probably directionally correct overall. What makes things worse for the agents is that they're not doing 54% less work, or incurring 54% less out of pocket costs. Many pay for system access and certain RE related services out of pocket. With income reduced but expenses holding steady, the reduction in their net income is more pronounced. Many of these agents are also spending significant amounts of time and energy working on short sales. Few of these transactions end up closing and yielding commission $ as many banks are dragging their feet on dealing with problems. The only people who seem to have it worse are the spec builders. Many are being boiled alive as the problems they put off in 2008 by renting out unsold inventory are now snowballing into massive losses.

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