I understand the sentiment - and I agree with you (sort of).
Brokers that do decent volumes should be in the know because pricing requests are being put fourth with multiple lenders everyday - so you quickly get a feel for who's offering what.
Cheers
Jamie
lol - I called today to change my postal address for statements. Got offered the same thing as you- then asked about insurances, my LOC, if I wanted to update my credit card......no, no, no - please just update my postal address.
Cheers
Jamie
0.15% of the loan balance p.a paid monthly for the life of the loan. So on a $300k loan, the trail would be $37.50 per month.
Then our aggregators dip their hands into as well.
Life of the loan is not 30 years either. Loans are refinanced and properties are sold.
Some lenders don't pay...
Ahhh - I'm onto you Brady (although it's probably no secret which lender you work for).
There's only one major I can think of where the staff seem to have a permanent smile glued to their face and welcome every person into the branch.
Cheers
Jamie
The others guys have touched on how much brokers get paid.
I spoke with a lender from a big 4 last year about her KPI's - apparently hers were based on the number of loans settled and not the overall amount of funds settled.
Cheers
Jamie