September 16th, 2013 10:43 PM by Eric Fang
It is very interesting that Summers withdraw thecompetition for the Fed chairman brought down the interest rate. The market still does not like toomuch changes from the Bernanke Era. And I hope thepaering to 75B a month will stablize the marketand 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 whospecialize 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 couldget better rates/service from me. And she was soreluctant 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 topurchase the properties from other states.I don't know how long it will take, and whetherthis 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 companyfailed as well. We all knew what happened in thosecrzay years.
Don't forget to celebrate the Mid Autumn Festival. The moon outside is almost round now.Stay tuned.