February 15th, 2012 10:06 PM by Eric Fang
I talked to one of my clients about the mortgagebusiness. We talked about one lender, which we hatethe practice, but we like the rates.
As the borrower, we all wish we could get thelowest rates with easy lenders, but it is notthe case some times. This lender will askendless documents from the borrower.
As a mortgage broker, we spent 4 times of myprocessing time to work on those loans. It is not economically right. But we will still do it, just because we want to get thebest rates for our clients.
Another thing, this lender will require theborrowers to stay for 180 days before next refinance. I think I will shop around for onemore lender in the future.