No. of Recommendations: 2
I respect the poster whose quote is below, my reply is in general, as someone who originates mortgage loans, and not direceted specifically to the poster.

To me, it's not a matter of if the customer thought of and did the work-around. As the customer, I'm paying for a service, and maybe you think I'm crazy, but I then expect to receive that service. I don't expect to pay for it and then have to do it all myself.

Many on this board have repeatedly stated that mortgages are a commodity, you're buying money. Price is the only criteria in making a selection of where to buy.

I agree that purchasing mortgage money is a commodity. Yet I've continued to state that the experience of the buyer of that money; from first consultation and review of loan options, to processing and delivery, to loan closing and funding, and concluding with the ongoing servicing of that commodity (literally for years) is a value added service. Hence, obtaining a mortgage is not really buying a commodity.
Print the post  


Useful Resources
Our Home Center has all you need to make buying and owning a home a great experience. Get or refinance a mortgage and much more!
Buying/Selling a Home FAQ

Mortgage Professor
Offsite resource for mortgage questions.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.