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bnm94607
17 Posts |
 Posted - 07/02/2009 : 11:14:18 AM
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| Rumors saids client mostly go to retail now. is that tru, or is still like before where alof of retail loan officers are passing the hard to do deals fos us brokers/wholesale channel to finish. please advise |
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ShamWow
171 Posts |
Posted - 07/02/2009 : 11:18:53 AM
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| Ask who ever you heard these rumors from. |
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mantixmortgage
3368 Posts |
Posted - 07/02/2009 : 11:18:57 AM
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| why dont you figure this out for yourself, rather than ask a bunch of people on the internets |
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jscorbett
4602 Posts |
Posted - 07/02/2009 : 11:20:15 AM
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| Wow, my head hurts from reading that |
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bnm94607
17 Posts |
Posted - 07/02/2009 : 11:20:19 AM
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Posted - 07/02/2009 : 11:18 AM
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why dont you figure this out for yourself, rather than ask a bunch of people on the internets
lol. I thought thats' what brokeroutposts are for???????
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mantixmortgage
3368 Posts |
Posted - 07/02/2009 : 11:25:12 AM
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| if you work in the business you should be able to figure this out |
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bnm94607
17 Posts |
Posted - 07/02/2009 : 11:27:51 AM
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| I dont work with other agents for referals so wont know the market |
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egamarro
278 Posts |
Posted - 07/02/2009 : 11:31:18 AM
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I thought brokeroutposts's was for exchanging recipes on how to cook methamphetamine's, wow, i'm in the wrong place.
sweet jesus! is it friday yet???? |
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mantixmortgage
3368 Posts |
Posted - 07/02/2009 : 11:47:04 AM
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quote:
Originally posted by egamarro
I thought brokeroutposts's was for exchanging recipes on how to cook methamphetamine's, wow, i'm in the wrong place.
sweet jesus! is it friday yet????
there's a sub-forum for riverside and san bernardino county brokers where this is discussed in detail |
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MastaOfDaMoney
99 Posts |
Posted - 07/02/2009 : 11:53:02 AM
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I will actually answer this question, since I am not a sarcastic, bitter LO. :)
Retail pricing is horrendous compared to wholesale right now.
We are beating EVERY retail outlet by 2-3pts in fees right now.
It's not even close.
Hope that helps. |
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VVance
6508 Posts |
Posted - 07/02/2009 : 12:03:18 PM
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quote:
Originally posted by MastaOfDaMoney
I will actually answer this question, since I am not a sarcastic, bitter LO. :)
Retail pricing is horrendous compared to wholesale right now.
We are beating EVERY retail outlet by 2-3pts in fees right now.
It's not even close.
Hope that helps.
I'm sarcastic, but not bitter.
Around here, if a large retailer wants the deal, they will out price Wholesale. Most of the time now, they don't seem very competitive. But, keep in mind, many of the rules we in wholesale have to play by retail does not.
For example, a couple of months ago, the local B of A was quoting stated income loans.
Other then that, it seems to be the opinion of the Government that Retail are just better people then Wholesale (sarcastic part). |
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MastaOfDaMoney
99 Posts |
Posted - 07/02/2009 : 12:06:35 PM
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quote:
Originally posted by VVance
quote:
Originally posted by MastaOfDaMoney
I will actually answer this question, since I am not a sarcastic, bitter LO. :)
Retail pricing is horrendous compared to wholesale right now.
We are beating EVERY retail outlet by 2-3pts in fees right now.
It's not even close.
Hope that helps.
I haven't seen anything like this yet in our office.
Retail pricing *****, and they don't seem to be able/willing to make exceptions.
SO they are DOA as far as we are concerned.
I'm sarcastic, but not bitter.
Around here, if a large retailer wants the deal, they will out price Wholesale. Most of the time now, they don't seem very competitive. But, keep in mind, many of the rules we in wholesale have to play by retail does not.
For example, a couple of months ago, the local B of A was quoting stated income loans.
Other then that, it seems to be the opinion of the Government that Retail are just better people then Wholesale (sarcastic part).
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VVance
6508 Posts |
Posted - 07/02/2009 : 12:16:55 PM
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quote:
Originally posted by MastaOfDaMoney
quote:
Originally posted by VVance
quote:
Originally posted by MastaOfDaMoney
I will actually answer this question, since I am not a sarcastic, bitter LO. :)
Retail pricing is horrendous compared to wholesale right now.
We are beating EVERY retail outlet by 2-3pts in fees right now.
It's not even close.
Hope that helps.
I haven't seen anything like this yet in our office.
Retail pricing *****, and they don't seem to be able/willing to make exceptions.
SO they are DOA as far as we are concerned.
I'm sarcastic, but not bitter.
Around here, if a large retailer wants the deal, they will out price Wholesale. Most of the time now, they don't seem very competitive. But, keep in mind, many of the rules we in wholesale have to play by retail does not.
For example, a couple of months ago, the local B of A was quoting stated income loans.
Other then that, it seems to be the opinion of the Government that Retail are just better people then Wholesale (sarcastic part).
Well, too I should mention there is still a good ole boys system of banking here. A couple of years ago, I had this attorney with low 5 scores. Wouldn't fly through DU, so offered him a sub-prime. He went to the bank he deals with and ended up with a great fixed rate. But, that's how things are around here. |
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jsaville
247 Posts |
Posted - 07/02/2009 : 12:33:15 PM
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I think retail ***** and being a broker is awsome.
Unfortunatly some customers and most agents dont feel the same.
As far as retail passing on the tough deals, in most retail branches you will have 1-3 TOP lo's that are established and always have full pipelines that produce probally 80% of the volume. The rest of the LO's are just order taking and have no idea the real amount of work that it takes to get loans done.
IMO |
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ctr2
129 Posts |
Posted - 07/04/2009 : 10:59:36 AM
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The national statistics show that that a MUCH higher % of home loans are now originated retail. The % wholesale used to be in the upper 60% range a few year ago, I think that has now slipped to like the 30% range.
So the hard facts are brokers are originating a much smaller % of the total U.S. residential loan volume. |
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