It certainly is getting ugly out there when looking at the methods of many mortgage broker’s recently. I recently hired a young aspiring loan officer that is nineteen. Although not in the business long, he learned of the cut throat nature that exist in the business quickly. At his first mortgage shop he was told by a manager to lie and do whatever it takes to close the loan. Wow , what a nice first glimpse into this young man’s career. He is good hands now.

We have had alot of loans falling out from other mortgage broker’s straight up lying to people. The market is in such a tough time right now that homeowners really want to believe they are going to get a magical deal for free. It turns out that it isn’t free nor all that is magical, unless you like seeing money disappear. It useually goes down like this.