By Rick Adlam on Tuesday, March 16, 2010
If the Mortgage Broker explains to the customert that they are offering a no cost home loan service to them, because the lenders are paying them a commission for introducing the home loan to the lender, they are being honest in my view.
If on the other-hand the mortgage selected favours the mortgage broker and his or her own personal interest, then it seems to me that the mortgage broker would have to be considered dishonest.
Posted in Commonwealth Bank, Home Loans, Homeowners, Lender, Mortgage Broker, Mortgage Industry, Westpac | Tagged Borrowers, Commonwealth Bank, first home buyers, Home Loan Lender, Interest Mortgage, Mortgage Broker, Mortgage Brokers, Mortgage Lender, Refinancing Home Loans, Refinancing Loans, Westpac
By Rick Adlam on Thursday, October 15, 2009
Banks over the last three years have let leading standards slip, in an effort to compete with non conforming lenders [sub-prime lenders]. This has lead to higher defaults and foreclosures and that is no good for anyone involved. But are the extra credit reporting requirements really necessary?
Posted in Banks, Home Loan Interest Rates, Home Loans, Housing Market, Interest Rates, Lender, Mortgage Rates | Tagged Credit Reporting Agency, Foreclosures, Home loan, Home Loan Applicants, Home Loan Lender, Mortgage Loan, Non Conforming Lenders, Sub Prime Lenders
