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At The End Of The Day....Do Mortgage Brokers Really Matter?

  If you know me or have read my little profile here, you probably know that my answer is a biased, "YES!"  Regardless, if you feel inclined, read on dear friends...

I'm a sucker for doing stuff that tends to be controversial in nature.  The part of that which intrigues me is that sometimes I go into it without that intention ever being involved.

I write this now when it should of been written then, but again I was reminded in a phone call I received earlier today.  I'll preface this with the fact that to me, Respect Means The World.  So, if you want to jive....show it.  And to avoid being a hypocrite, I'll give it as it is deserved.  Respect Means The World!

Ring Freakin Ring...  And I answer with..."Hey man, how are you doing?" 

Just wonderful, and you?

No immediate complaints.

What's going on?  Are you still doing that Broker Stuff?

What do you mean, that Broker Stuff?

You still doing that for coin, I mean, come on, I work for a BANK man.  When are you going to get out of that trash?

Trash!!!??? Trash, I didn't say this to my amigo over there in Wonder-Wonder Land, but I'll say it now.  Besides, I used explicatives that wouldn't possibly be right if written here. 

For those of you, Real Estate Professionals Or Consumers Alike, let me clue you in on a little something....

Wealth,Currency,US Paper Currency,Dollar Sign,Bill,Green,Joy,Coin,Incentive,doesnt,Business,Finance,Stock,Stock Market,Store,Greed,Spanish Currency  Unless you have a lot of this to spare, you'll need financing for any Real Estate Venture you may want to enter.  I tell you what, go to your local/preferred/popular bank and apply.  If they will help you, do me a small favor, go shop at reputable Mortgage Broker just to see.  Just to see...

I didn't think at the time that going away from what I was doing and then into this would enter me into yet another industry aloof with confusion, mistrust, & point-blank incompetency.  I was naive because I never thought I'd be labeled by the crowd I'm in.

I read somewhere recently that somebody had said we make so much money.  Let me tell you something folks, it ain't about that.  This industry, this career, this life, has never, ever, been about that.  I was trying to 'Sell' mortgages to individuals whose W-2's were far greater.  And they were social workers and janitors and teachers and lawyers and bartenders and I hope you GET my drift.  It ain't about the money per se.  It's about Respect.  We should earn it, you should know the difference...

 

28 commentsJason Sardi, Mortgage Banker • July 01 2007 01:16PM

Comments

Amen, Jason.  :o)
Posted by Sarah Cooper (Real Estate Shows) over 2 years ago
You sound like the pastor preaching to the choir. I am with ya brother. I am running the same numbers year to date as last year and our market has fallen off. One of the loan officers in my company went to a bank. I asked him if it was better. He replied "It is the same But, I have more people looking down at me wanting to know my business."
Posted by SHAUN WREN (LICENSE IS NOT PLACED) over 2 years ago

Puma in the wild or puma in a cage...I'll stay free, thank you!

 

Bob Mitchell

ValueList Real Estate Services, Inc. 

Posted by ValueList Real Estate Services, Inc. over 2 years ago
And then I suppose your friend thinks self employed people shouldn't get loans, First Time Homebuyers shouldn't get loans and Property Investors shouldn't get loans.  Allright......
Posted by Joe Long - Purchase Perfect (Waterstone Mortgage) over 2 years ago
Jason - Fear not, friend.  You have respect here on AR.  It's sad when we get labeled along with the folks who do a lesser job---just for the money.  When times get tuough, they generally scurry back under the sink.
Posted by Laguna Homes|Laguna Condos| Laguna Real Estate|Marlene Bridges (Sherman Smith & Associates) over 2 years ago
Well done Joe!!  Enough said,  I think by the responses we all are a little biased here. - in a good way.  Great post!!
Posted by aasent Mortgage Corporation National Lender for FHA & Conventional (aasent Mortgage Corporation ) over 2 years ago

Sarah - The Sermon is over:-)

Shaun - That's not altogether shocking. 

Bob - Maybe I'm a tad disoriented, I have no clue what that means.  Good Puma!

Joe - Well put amigo, well put.

Marlene - I appreciate the kind remarks. 

Open Home Mortgage - Thank you and I think Joe put it well as well!

Posted by Jason Sardi, Mortgage Banker (FHA-VA-USDA-Conventional-Pennsylvania Loans) over 2 years ago
I agree totally with Marlene....labeling is not good...but then such is life....stigmitize, judge and rationalize why....I only have one answer. There are such that rise above it all and still do a grand job. Well respected are you...I agree.
Posted by Celeste "SALLY" Cheeseman HAWAII Relocations & Real Estate (Century 21 Liberty Homes) over 2 years ago
Jason,  Great post.. I am so tired of getting no respect...I tell you that no respect at all..:-)  just kidding
Posted by My Favorite Mortgage.net - Matthew J Blum over 2 years ago

Jason,

This is a area where people just don't really know what we do and how we do it. I myself am tired of all of the B/S and it's because of all of those out there who think they really know how to be a Real Mortgage Broker Great post, because i'm ready to explode with this topic.

I won't say anymore, because I don't want to take away from your post... it's good..

Take care,

Tom Weiss

Posted by Thomas Weiss (Thomas R. Weiss) over 2 years ago
Jason, I've used my local bank and mortgage brokers for loans. My bank was a whole bunch easier. BUT I got a better rate using a Broker. So it really just depends on the mood I'm in. When I use my bank I have my money in a week. To me that's a big deal if I'm in a hurry. If time is not a factor I prefer the MB hands down. I respect you man!!!!  
Posted by Bryant Tutas-Tutas Towne Realty, Inc over 2 years ago

Hi Jason,

Since I am a Realtor and since I do criticize some loan officers,mortgage broker etc. I only said it because of the unprofessional job they did. These people do not belong in your industry and it has been happening more lately. and it is nothing personal towards anyone here ..if any LO or even a Realtor contributes on their end I am the first to compliment them. We need to work together not separate.

Posted by Neal Bloom-Realtor ® Assoc.-CRS-Weston FL (Keller Williams Properties) over 2 years ago

I work with a great local broker..I am still leary of the "out of town" broker.  But its not all brokers that make the industry so terrifying...it's just the really bad ones.  I have had bad loans with local banks too...it's not all about the title...it's about the delivery...that's where you get the R-E-S-P-E-C-T. 

Posted by Bob Carney Licensed MD/PA Real Estate Agent (Long & Foster Real Estate, Inc.) over 2 years ago

Celeste "Sally"  Cheeseman - Gracias!  I concur with you, rise above it all!

Matthew - Lol, thanks man.

Hey Tom, if you ever want to "Hijak" my post, feel free.

Bryant - Totally understandable.  I've closed a loan in 7 days, somethings it takes me 60 days!  Lol, I appreciate the respect, I want a group hug:-)

Neal - You said it all when you said, "We need to work together not separate."  I agree completely Neal.

Bob - Find out what it means to me, R-E-S-P-E-C-T....whoops, catchy tune:-0

Posted by Jason Sardi, Mortgage Banker (FHA-VA-USDA-Conventional-Pennsylvania Loans) over 2 years ago

Well said but I would add this. Some contend that people just don't understand. Maybe not. At least when we see them as the distant group of citizens we never meet. But believe me, the people we are working with know. They have lots of respect, they also get it. We provide a sevice. when we do it well we get rewarded in a number of ways. The appreciation, the earnigs, the self esteem, the referrals, they are all important and well earned. The generalizations are just that and most know they don't apply to their  mortgage and real estate brokers.

William

Posted by San Diego Real Estate Voice authored by William Johnson (RE/MAX Associates) over 2 years ago
Great Post! Unfortunately I think it is true that in every industry there are those situations and even people who give the business a bad reputation. Common goals or working together is the only way to abort those negative predispositions.
Posted by Valerie Betz (First Choice Equity Group) over 2 years ago

Good points.  To get respect in this business, you have to earn it double.  Going over and above what is thought possible on every deal.

The saddest part is that all of your hard work and respect earned can be lost in a moment's notice.  Then you have to start all over.

Posted by Steven Shewell, The Mortgage Maverick (Primary Residential Mortgage, Inc.) over 2 years ago

I think you're all a bunch of used car salespeople.

 

 

 

Posted by Rob Robinson- Lehigh Valley PA (Bertrum Settlements (Title & Abstract)) over 2 years ago

William - Some good points!

Valerie - I see you stopped by again, nice to see you are perusing this website.  Hope you are learning a lot, see you back at the office soon.

Steven - That's a fact amigo.

Rob - In which case I would need a gold chain rather than a badge, don't ya think:-)?

Posted by Jason Sardi, Mortgage Banker (FHA-VA-USDA-Conventional-Pennsylvania Loans) over 2 years ago
Jason, Good post! I understand why people look at us cock eyed.  Its because of the shifty people that raked their clients over the coals for the money!  Don't worry though because the industry is doing a good house cleaning right now and soon people like you and I will be standing at the top of the hill knowing we are still here because we treat our clients with respect and integrity!  I am with you man! 
Posted by Rey Gallegos Mortgage Loan Officer Las Vegas, NV (A Mortgage Bank) over 2 years ago
Thanks Rey.  Oh, I understand as well and I agree with you that as the year moves forward, the ones who aren't in this for haul with flutter, fall, & fail.  The end result of that will be even better news for consumers...
Posted by Jason Sardi, Mortgage Banker (FHA-VA-USDA-Conventional-Pennsylvania Loans) over 2 years ago

It's about Respect.  We should earn it, you should know the difference...<---

Jason...

My sentiments exactly. It really doesn't matter what we do as long as whatever it is we are doing includes respect.

No. I am not going to talk about the human test for 25 points. Heck I have already gone past my quota for today and I am still not going to talk about the human test for points. Or am I? :)

P.S. I don't have anything more to say on this topic. Your Dad took the words right out of my mouth :)

TLW...ROAR!

Posted by "The Lovely Wife"...Broker Bryant's Wife... (Co-Owner Tutas Towne Realty, Inc.) over 2 years ago
Jason - we find the Mortgage broker / lender we work with better than banks, credit unions and other sources. We just had a client that went to their credit union and after 2 months and losing the house they really wanted because "mom" pressured them to use the CU they finally were ready to talk to our mortgage professional, Leah Ross who had them approved in a week to get the house they wanted. No comparison - I for one respect the real pros!!!
Posted by Clearwater Real Estate Pinellas Florida Condos & Homes for Sale- Cyndee Haydon (Charles Rutenberg Realty) over 2 years ago

TLW - You always have something of quality to add, thanks!

Cyndee - I find this quite often, nothing against Banks & Credit Unions but that (Mortgages) is typically not their forte in this day and age.  Great to hear that Leah has done such a good job for you!

Posted by Jason Sardi, Mortgage Banker (FHA-VA-USDA-Conventional-Pennsylvania Loans) over 2 years ago
Jason - trust me so are we - we kissed a ton of mortgage frogs before finding Leah - some of which even have a pad here on AR (hope they don't jump in your path :-))
Posted by Clearwater Real Estate Pinellas Florida Condos & Homes for Sale- Cyndee Haydon (Charles Rutenberg Realty) over 2 years ago

Wow, Jason, you AND Jeff write posts about other people thinking mortgage brokers making too much money? Did I miss something that inspired both of you to write similar posts?

 

Posted by Janet Guilbault California Mortgage Banker/Broker over 2 years ago

Cyndee - LOL, you and me both.

Janet - Me & Jeff.  I'm confused, Jeff who?  Feel free to add the link to Jeff's Blog.

Posted by Jason Sardi, Mortgage Banker (FHA-VA-USDA-Conventional-Pennsylvania Loans) over 2 years ago

I may have been the forementioned bartender.

 

Hiya Jason

Posted by Josh over 2 years ago

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