February 8th, 2011 12:11 AM by Eric Fang
Just watched a bridge game(on Yhaoo) during my lunch break, the team bid 4S and was done 2, it was a very good bid. The first player saidthe bid raised to 4S was bad. the dummy arguedthat they can make it if they played rightly.
From my opinion, those players had differentopinions for the same game, and both were "right" based on their own knowledge and expertise. And I think they were not on the same level.
Same with mortgage applictaions. Especially with some sophiscated loans for the investors.
I closed one purchase loan last week with the rate 3.875% for 5/1ARM with buyer paying all the closing cost. The buyer worked with another agent with 3.625% at the beginning, but did not get the approval.
I told the buyer that I did not quite the same 3.625% rate since I know he could not get theloan approval based on his loan senarios.His loan could not be approved by that lender.
So we went ahead with the lender who can approvethe loan. And we closed it successfully within 19 days.