Need help with realtors

[TxLoanOfficer]

You never get paid more than the 1% origination fee? Are you saying that you never make anything on the yield?Wow!!!!!

[CafeMonkey]

Me? No, I think you're mistaking me for someone else... I don't take the deal unless I'm getting 20%.

I said I've never "paid" more than one point.

[TxLoanOfficer]

i never charge more than one point on the front, any other points i make are from the lender themselves and has nothing to dowith the client

[kensmith]

There is a lot more work that goes into placing a loan than you think. Go spend a day with your loan officer on a busy day and then tell me how much you think his time is worth. Good loan officers work as hard or harder than most realtors I know.

The company I used to work for was a mortgage company that started a real estate company. I was part of the day to day opperations in the loan side for 6 months just so I would know how much went into the loan process.

There is NO WAY that an average loan takes 1/3 the time and average real estate deal takes. At that I haven't found a single good LO that even claims to say that it does. Those 6 days you spent with the Real Estate agent and their client...that is the norm for us, it is a one time deal for you. In case you have no clue, the time invested doesn't stop when the contract is signed.

A loan officer can easily do 3 times the deals that a real estate agent can in the same amount of time. A slow week for my LO is still 3-4 deals, that is a great week for a real estate agent. What my LO calls a good week is better than the best month I have ever had.

Charge what you wish, just remember that a good agent will not let their customer pay more with you than the next guy just to make 20% of the deal. That was my point. We have an ethical duty to do what is best for the client not what helps our pocket books.

[TxLoanOfficer]

I think you are still misunderstanding. I do not charge a 3 point origination fee. I only charge a 1% origination fee. Anything I make above the 1% is paid to me by the lender. Apparently you do not know how that works though.