Main > Everything Else
Bloodbath only a few hours away
shardian:
heh, well then I guess I am definitely blaming lenders.
shardian:
--- Quote from: patrickl on January 22, 2008, 02:51:03 pm ---Aren't "lenders" and "brokers" the same thing?
--- End quote ---
Not always. The big lenders do have their own agents (like countrywide), but you also have mostly independent brokers who wheel and deal alot more.
For instance, when i did all of my loan paperwork, I fill out my paperwork, etc at an independent broker that was paid to handle the paperwork of my loan.
You also have banks that give loans (local banks, branch banks, etc) that can buy/sell your loan as they please.
patrickl:
--- Quote from: shardian on January 22, 2008, 02:53:04 pm ---
--- Quote from: patrickl on January 22, 2008, 02:51:03 pm ---Aren't "lenders" and "brokers" the same thing?
--- End quote ---
Not always. The big lenders do have their own agents (like countrywide), but you also have mostly independent brokers who wheel and deal alot more.
--- End quote ---
Ah ok, brokers are the "middle men" between lenders and borrowers. Just wondering. Thanks
ChadTower:
--- Quote from: patrickl on January 22, 2008, 02:51:03 pm ---Aren't "lenders" and "brokers" the same thing?
--- End quote ---
Brokers are often independent agents or agencies that write up loans for a lender (sometimes more than one) for their own profit. They get paid separately from closing costs and have no persistent interest in the loan once it is processed. Same concept as insurance agents. They can work directly for the lender but those aren't the brokers that wrote up most of the really crappy loans.
ChadTower:
--- Quote from: shardian on January 22, 2008, 02:51:52 pm ---heh, well then I guess I am definitely blaming lenders.
--- End quote ---
I can buy that. I may even finance it if you can get me interest only payments for at least 2 years.
Navigation
[0] Message Index
[#] Next page
[*] Previous page
Go to full version