Mortgage Broker flamed me....

[rudder]

Originally posted by: da loser
he's probably pissed because he wasted time on you for years and got paid $0

Then he shouldn't be in a commission based position if he can't handle it.

 

[racolvin]

Shopping around and comparing quotes is just good sense. He just displayed his incredible level of douchebaggery, both in not giving you his best the first time and for the flame.

 

[alkemyst]

He was playing a shell game. You owe him nothing.

One of the typical snags a broker pulls though is to get $500-1000 up front for 'credit and appraisal' and then you are sort of locked in.

A GFE is a lender/brokers best first impression. The whole 'not final' thing is a misnomer...it should be reasonably close to what you will be signing. The only exception is getting one based on no credit being run. They will quote you on the best of the best deal and often many will not qualify even with excellent credit.

Now if all was said and done and you were within spitting distance on two deals, it would be fair to give the first guy that put together the initial deal a second chance.

Usually the first person you see does most of the work the rest need to see.

Like buying a car you mentioned...it's easy for the next dealer to say they will knock $100 off, but usually the first guy will still be able to meet that.

Saving $100 per month though is an INSANE amount on a loan difference if everything else was the same.

 

[NoCreativity]

Good work. I had a guy who wouldn't even give me a GFE. I found another broker who did and went with her. He acted very similar to your guy, except over the phone. You were right and he is a lazy idiot who just lost out on some easy money.

 

[Scarpozzi]

Unless you sign a contract, you're not bound to anything.

Mortgage brokers are middlemen anyway. They usually get paid base salary + commission for a year and switch to an all commission salary after a year or two. If you were able to get a better deal through someone else on the first request, I say drop the first guy anyway. I don't like playing footsie when it comes to money.

I suggest shopping around on your own. Sometimes the brokers work with bad companies that will buy and sell your mortgage to just anyone. The reason I don't like this is because they can sometimes hit you with unexpected fees, depending on how honest the companies are that end up with your mortgage. Do research and definitely try to lock in a low rate this week or next...they're expected to continue rising throughout the Summer and into the Fall.

 

[Chryso]

Flame him back and tell him that you are telling all your friends how he tried to rip you off.