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Bad Mortgage Business, You’ve Been Warned

Hopefully, Miami isn’t all about attempting to do bad mortgage business. If so, my true “Wholesale Lending Concept” will cut the market by 75% and that will have me way too busy.

As I previously stated, it is my intention to have a wholesale mortgage business here in Miami.

I am happy to announce that “total wholesale” is now available. We now have the capability to process wholesale conforming products as well as Government products (VA & FHA).

We at MiamiBeach411 have now positioned ourselves to offer our valued clients a totally under priced mortgage transaction. 

Last year, I wrote about the concept of the wholesale mortgage lender.

The term “wholesale” in my understanding means: “well below the average price”.

I was shocked on the final day of my mortgage broker training classes to have a fellow student approach me and tell me that although his credit score is tops and his wife is a real estate broker, they were offered a “bad mortgage product”. The kicker is, the mortgage broker that offered them the product is supposed to be a friend and colleague.

Buyer beware: when comparing mortgage products, make sure you understand all the costs and read the fine print.

When he told me all the details, I found that their so called “friend” had offered them a mortgage which was loaded with over $13,000 in hidden costs. The “friend” had told them she had reduced the fees to a minimum. What an outright attempt to hoodwink a close associate.

Bad mortgage business practices slow our economy.

There’s a new ethical process in this city. Misinformation and bad business, you’ve been warned.. Bad mortgage business is NO LONGER ACCEPTED.

By Jim Jump To Comments
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1 Responses to "Bad Mortgage Business, You’ve Been Warned"

    Toronto says:

    The credit markets are seizing up and the uncertainty recently drove up short-term interest rates for municipalities and some rock-solid institutions such as New York’s Metropolitan Museum of Art to 20%. And now even so-called prime borrowers, the ones who were properly vetted, are being sucked into defaults on their mortgages. Yet it’s still a relatively small number of institutions and individuals getting hurt by this not-yet-a-recession. So what’s the worst that could happen?


    Posted on 01/17 at 5:00 AM

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