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BIG Proposed Change To The Mortgage Industry - Way To Go Mr. Bush!
Liane Jamason
I saw this article come out today from FloridaRealtors.org and the parts I have bolded below are what jumps out at me most. I am sure some mortgage brokers won't be happy about this but this is a badly needed reform. It calls for the "Good Faith Estimate" to truly disclose everything.
For example, the yield-spread from lenders to mortgage brokers would be disclosed. This is big. Personally, I feel that before I was in real estate, I myself was "duped" into getting a loan for an interest rate that was much higher than what I probably could have received elsewhere. But when a mortgage broker tells a client "You qualify for a 10% loan" - how are they to know any different else the yield-spread is disclosed?
Previously there has been no disclosure and…
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My name is Liane Jamason. I am native Floridian who grew up in Palm Beach Gardens, Florida. I attended Palm Beach Atlantic University where I earned a Bachelors in Business Management and Marketing. I have a background in technology and marketing, and love to market my client's homes on and offline - its creative and fun to me! I own over 20 domain names relating to Real Estate in Tampa Bay so my site gets a lot of traffic! You might call me a real estate geek, but its to my client's advantage!
I got into the real estate business because it combines many things I enjoy - marketing, sales, and helping people, technology, AND photography. I guarantee your home will look GREAT on the MLS system, I have a Digital SLR camera that takes awesome high quality photos!
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