Mortgage Blog

It is very interesting that Summers withdraw the
competition for the Fed chairman brought down the
interest rate. The market still does not like too
much changes from the Bernanke Era. And I hope the
paering to 75B a month will stablize the market
and help the interest rate lower.

Usually a lot of clients refer me to their friends,
co-workers, and sometime, they will ask others about
how I was doing with all the loans. And today, I got
the chance to rate the real estate brokers.

One borrower was trying to find a RE broker/agent who
specialize in saratoga/Los Altos/Cupertino area.
He got a few references from the friends and asked
me to rate them based on my expereince with them.
Very interesting, right? And one of the agents
happened to be a loan agent as well, and she tried
to get the loan business even the borrower could
get better rates/service from me. And she was so
reluctant to provide me the escrow contact info,
the purchase contract, etc.  And I am not sure
whether she is still doing business on both now.

I might try to get some new lenders with better
rates, or I will try to help my borrowers to
purchase the properties from other states.
I don't know how long it will take, and whether
this is possible.

A few years ago, my previous old broker tried
to purchase a local bank so that we could do
business in a lot of states, and with good
rates. But the transaction failed and the company
failed as well. We all knew what happened in those
crzay years.

Don't forget to celebrate the Mid Autumn Festival.
The moon outside is almost round now.Stay tuned.