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BIG Proposed Change To The Mortgage Industry - Way To Go Mr. Bush!

photo 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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Posted: 2 years ago, Comments: 0, Average Rating: Views: 329
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Liane Jamason

Liane Jamason  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! Let me help you find your dream home in the sunshine state. I service areas from St. Read More

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