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Topic & Comments
Watch your steps not to pay unfair mortgage commissions by | 2013-02-05 3:44:34 PM

With the complete respect to Mortgage Brokers community, I was the victim of an unfair mortgage commitment that ended me to pay the commission of mortgage broker for doing nothing. I want to share my story may be it would be beneficial for some individuals who are looking for mortgage. I came across to a broker introduced by my friend to find a mortgage. I trusted on him and singed the commitment relying on his explanation that “THERE IS NO LIABILITY AND PENALTY ON THIS MORTGAGE COMMITMENT”. Ultimately, for two or three phone conversations and one hour meeting to get me to sign the commitment I was sued by broker and his legal rep. and I spent about $2500 to get rid of the hell. It is unfortunate that some brokers are trying to get the commitment signed by their clients and regardless of suitability of the offers being brought to the table expect to get their fees. I realized that these people are not successful in their career and are not capable of doing quality jobs; may be no choice they take the approach of “Legal Method of Stealing People’s Money”. More unfortunate part of the story is that they are supported by some Paralegals whose jobs are “Obtaining Lost Commissions whether or not the offer suits client's needs”. Hey individual folks looking for mortgage, "DON’T SIGN ANY MORTGAGE COMMITMENT UNLESS YOU THOROUGHLY UNDERSTAND WHAT THE CONSEQUENCES ARE AND DON’T TRUST ON EVERY BROKER, THEY MIGHT TAKE THE ADVANTAGE OF YOUR TRUST AND YOU WILL HAVE TO PAY UNFAIR MONEY TO THE PEOPLE WHO DON’T DESERVE A more

CMP has an app for that, too by MBN | 2013-02-01 4:53:07 AM

CMP magazine is only a download away, and now available on more

Waiting list for rate site grows by Vernon Clement Jones | 2013-01-24 9:24:12 AM

At least one leading rate site is pointing to growth in the number of brokers now on its waiting list, suggesting a slowing market is partly responsible for the more