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xbroker24
445 Posts |
 Posted - 04/03/2006 : 03:51:27 AM
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| take a loan out from a bank that you already submitted it too without making thier AE get pissed at you an fudge up any other deals you give them in the future?? If its not obvious already I put a loan through one bank submitted everything to them now I got price from different bank thats about 1.5% lower rate then the one I put it through so I need to swith banks...any good ideas I dont want the banks account rep to take it personal an mess up any other deals I put through them in the future?? |
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blokk
563 Posts |
Posted - 04/03/2006 : 05:38:25 AM
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| I'd talk to the rep and let him know that you had placed it with two lenders at the same time looking for the best rate. Ask him if there is anything he can do to help you with the rate, that way you are giving him/her a chance to meet the other lenders rate. Be honest. Even though the rep may not like it. He/She should understand that your borrower isn't going to pay 1.5% more on the rate than they have to. If the rep doesn't understand that, then I'd question the reps desire to help the customer. |
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krodriguez480
14 Posts |
Posted - 04/03/2006 : 05:47:03 AM
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| i don't think a rep would take it personal we. understrand you have to give the client the best deal. an account executive would never fudge up any future deals, thats how we get paid. |
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bswain
453 Posts |
Posted - 04/03/2006 : 06:17:18 AM
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Kristina is right. We are professional and understand business is business. I can't imagine an A.E. purposely messing up their own money however we would like the opportunity to know before hand that you are pulling the deal so that we can either try to match your other offer or we won't continue to spin our wheels on a dead deal.
1.5% seems to be a huge gap unless you went from subprime to A paper and even then you would have to watch out for PMI/MI that can offset the difference in rate and payment.. Rate isn't always the most important thing in a deal..payment is so make sure it is worth the switch by calculating payment and which is better for your client. |
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