No. of Recommendations: 1
RayVT,

You're a knowledgable man and many of your posts have value, but this one doesn't.

IOW, you are going to be dealing in a commodity.

So is home heating oil, many people purposely choose a higher cost vendor. The value is in the delivery.

You are not likely to have much repeat business, or much referral business. The peculiar thing about commodities is that they are interchangable, thus "referrals" are of no value to the borrower.

I'm an employee of a bank, wages are paid thru a W2, but my earnings are 100% commission based on loan volume. Over 90% of my current business comes from past clients or referrals from past clients. And, I do a LOT of business. Referrals are plentiful.

And you as a L.O. have no control over the price and very little control over the speed of closing.

That's entirely false. I have impact on price, while I'm contained within a threshold, that threshold will be worth $1,000. to $6,000. to the borrower, depending on loan amount. I would also say that I have a high amount of control on the speed of the closing.

Ray, your knowledge of mortgages is as a consumer, correct me if I'm wrong, but I don't think you've ever originated a loan. Your projecting your own beliefs across an entire industry. It's nonsense.
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